Madagascar
Africa · Pop. 32M
Largest rounds
Largest funding rounds in Madagascar
A live treemap of $100M+ rounds from the Dealroom API. Each cell is one round into a Madagascar-headquartered company, grouped by Dealroom sector.
Largest rounds in Madagascar - 2026
VC investment
How much venture capital flows into Madagascar
VC investment into Madagascar-headquartered, VC-backed companies, broken down by round size, company location, sector and funding stage. Live from the Dealroom Next Gen API.
Academia
Madagascar's academic flywheel
Companies founded by university alumni or spun out of research, plus the institutions producing the most founders tied to Madagascar.
Location comparison
How Madagascar stacks up
Compare Madagascar with similarly sized ecosystems in Africa — switch between combined EV, 5-year EV growth, and a growth × size view. Expand the table for the full ranking.
Combined enterprise value of each ecosystem.
Top ecosystems in Africa ranked by combined EV. Madagascar's row is highlighted (#12).
| # | Ecosystem | Combined EV | 5-yr EV growth | Unicorns | VC invested | Tracked startups |
|---|---|---|---|---|---|---|
| 1 | South Africa | $18.9B | 8.2× | 2 | $406.5M | 973 |
| 2 | Nigeria | $17.2B | 11.8× | 5 | $137.7M | 926 |
| 3 | Egypt | $12.3B | 9.6× | 4 | $416.9M | 838 |
| 4 | Kenya | $8.6B | 9.7× | 1 | $369.8M | 524 |
| 5 | Seychelles | $3.1B | — | 1 | $15.8M | 46 |
| 6 | Senegal | $2B | 98.9× | 1 | $13.5M | 52 |
| 7 | Mauritius | $1.9B | 29.4× | 0 | $19.5M | 42 |
| 8 | Ghana | $1.4B | 4.6× | 0 | $146.9M | 194 |
| 9 | Morocco | $1.2B | 15.5× | 0 | $20.2M | 145 |
| 10 | Tunisia | $1.1B | 37.2× | 0 | $5.2M | 110 |
| 11 | Rwanda | $705M | 5.8× | 0 | $13.2M | 58 |
| 31 | Madagascar | $30.6M | — | 0 | $532.3K | 8 |
Premium analytics
What we don't show on this page (yet)
Sector breakdowns, founder origins, AI-talent leaderboards and live deal flow are gated to logged-in Dealroom users. Book a demo to access the full Madagascar dataset — or see a sample on the Dealroom app.
Get the full Madagascar ecosystem on Dealroom
Live company-by-company deal flow, full cap tables, founder pedigrees, hiring signals and revenue trajectories.