Venture funding into the African startup ecosystem witnessed a slump in July as 44 startups across the continent raised $102 million in the month. Of the $102 million raised, only $25.5 million came in the form of equity, representing just 25 per cent of the total. Debt funding also now stands at $529 million, about a 44 per cent drop from the $941 million raised in the same period last year. Aside from M-Kopa, South African AI-powered lender Bridgement, also raised $20 million in debt from RMB, an existing funding partner and Standard Bank. Zambian clean energy startup Biolite also raised $11 million in debt, as did Nesa Power, which raised $9 million.