In a quarter where global startup funding saw a dip, Nigerian innovators still pulled through, raising a total of $26 million in equity funding between April and June 2025. Leading the pack was renewable energy company Arnergy, which closed an impressive $18 million Series B round, including $15 million in equity and $3 million in debt.
Other key players in this funding wave include:
Carrot, an accounting and finance automation startup, raising $4 million
CutStruct, a digital marketplace for building materials, pulling in $2 million
PaidHR, a tech-driven HR/payroll platform, and
Yikodeen, an edtech company focused on digital labs, each closing $1 million to $2 million in early-stage funding.
Although the numbers are lower compared to the same period last year, the good news is that investors are still betting on Nigerian startups that solve practical problems, such as power, payments, construction, and education. These fresh rounds are expected to boost job creation, expand operations, and improve service delivery across the board. It’s proof that even in tough times, smart solutions still attract support.
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