MENA Start-Up Funding Soars 260% in July, Reaches $355 Million

UAE, 13 August, 2024 : Start-up funding in the Middle East and North Africa (MENA) region soared in July 2024, reaching $355 million, a 260% increase from the previous year and 206% higher than the previous month, according to data from Wamda and Digital Digest.

A total of 38 start-ups secured funding, with the UAE leading with 12 deals, followed by Egypt and Saudi Arabia with 7 each, and Jordan with 6. Egypt topped in investment value, attracting $185 million across seven deals.

The fintech sector emerged as the top choice for investors, raising $180.8 million, followed by Web 3 at $85 million, cleantech at $37 million, deeptech at $20 million, and e-commerce at $15.7 million.

Source : www.zawya.com