Funding and investors in Madagascar: market analysis
Who invests in Madagascar, in which sectors, with which tickets and instruments: every figure below is computed from the funding deals recorded on the platform.
23
deals recorded
1
over 12 months
13 k$
median disclosed ticket
4
identified investors
Key findings
- 23 funding deals recorded (Madagascar) since 2018, involving 23 companies and 4 identified investors. 1 of them over the last 12 months.
- Median disclosed ticket: 13 k$; half of the deals fall between 5 k$ and 20 k$ (8 amounts disclosed out of 23, 10.1 M$ in total).
- Where the money goes: Agribusiness (48 %), Education (9 %), Energy (9 %).
- Most frequent stage: Growth (52 %); most used instrument: Equity (61 %).
- Most active investors: Miarakap (20), Africa Jobs Fund (1), Investisseurs & Partenaires (I&P) (1).
- 0 % of deals are syndicated (at least two investors around the table).
Sectors
- Agribusiness11
- Education2
- Energy2
- SaaS2
- Tourism & hospitality2
Industries
- Honey, botanicals and natural ingredients3
- Fruit, vegetables and market gardening2
- Hospitality and catering2
- Food processing2
- Beauty, sport and wellness1
Stages
- Growth12
- Pre-Seed8
- Seed1
Instruments
- Equity14
- Grant8
- Senior debt1
Deals per year
| Year | Deals | Disclosed amounts |
|---|---|---|
| 2021 | 2 | — |
| 2022 | 13 | 10.1 M$ |
| 2024 | 1 | — |
| 2026 | 1 | — |
Most active investors
- Miarakap20 deals
- Africa Jobs Fund1 deal
- Investisseurs & Partenaires (I&P)1 deal
- Mirova Natural Capital1 deal
Latest deals
| Company | Date | Disclosed amounts | Lead |
|---|---|---|---|
| Exporters Without BordersFood processing · Madagascar | Sept 2026 | undisclosed | Africa Jobs Fundsource |
| AerialMetricDelivery and last mile · Madagascar | Jan 2024 | undisclosed | Investisseurs & Partenaires (I&P)source |
| Aqre GroupHoney, botanicals and natural ingredients · Madagascar · Growth | Oct 2022 | 10 M$ | Mirova Natural Capitalsource |
| SoanayFruit, vegetables and market gardening · Madagascar · Pre-Seed | Jan 2022 | 5 k$ | Miarakapsource |
| ADI'Gasy CompanyAgricultural inputs and services · Madagascar · Pre-Seed | Jan 2022 | 20 k$ | Miarakapsource |
| Senteurs et Saveurs du Monde - Ilanga NatureHoney, botanicals and natural ingredients · Madagascar · Growth | Jan 2022 | undisclosed | Miarakapsource |
| MycofarmFruit, vegetables and market gardening · Madagascar · Pre-Seed | Jan 2022 | 5 k$ | Miarakapsource |
| ECTACocoa, coffee and export crops · Madagascar · Pre-Seed | Jan 2022 | 5 k$ | Miarakapsource |
| Charbon MitsinjoClean cooking · Madagascar · Pre-Seed | Jan 2022 | 5 k$ | Miarakapsource |
| Stephaina BeautyBeauty, sport and wellness · Madagascar · Growth | Jan 2022 | undisclosed | Miarakapsource |
| Honey of MadagascarHoney, botanicals and natural ingredients · Madagascar · Pre-Seed | Jan 2022 | 20 k$ | Miarakapsource |
| Jiro-VeMini-grids and rural electrification · Madagascar · Growth | Jan 2022 | undisclosed | Miarakapsource |
See also
Method: published funding deals (press releases, specialised media), recorded by Invest Matching's news monitoring and reviewed before integration. Amounts in US dollars; deals without a disclosed amount count in the totals, not in the medians.