Morocco’s startups raised a record $108.44 million across 48 disclosed funding rounds in 2025, with investment spread across more companies, according to UM6P’s Morocco Startup Ecosystem 2025 Report.
The three largest rounds accounted for 33.66% of total funding, down from 64.70% in 2024. The report said the shift points to a market that is becoming less dependent on a few large transactions, with more startups attracting institutional capital.
Funding rose 14.2% year on year, while the number of disclosed rounds increased 20%, from 40 to 48. Deal activity had remained flat in 2023 and 2024. Unlike 2024, when a large traveltech round significantly influenced the annual total, 2025 growth came from a broader mix of companies, sectors and funding stages.
The five largest rounds represented 46.11% of disclosed funding. Pre-seed remained the busiest stage, followed by seed, while pre-Series A and Series A deals became more common.
Median round sizes rose from $0.53M at pre-seed to $1.10M at seed, $3.28M at pre-Series A and $7.50M at Series A. Six Series A rounds raised a combined $51.41M, although no Series B round was disclosed. According to the report, the increase in later-stage deals suggests more Moroccan startups are progressing into institutional financing.
Source: Morocco World News
