Our Terms & Conditions | Our Privacy Policy
Despite a funding decline, the Middle East and North Africa (MENA) startup ecosystem showed resilience, with rising deal volumes and sectoral diversity, as MENA startups recorded $2.3 billion in investments in 2024, a 42% year-on-year (YoY) decline. However, excluding debt financing, the decline is just 11%. Despite the drop in value, the ecosystem saw growth in activity, with 610 deals marking a 3.5% YoY increase.
The UAE led the region with $1.1 billion raised across 207 startups, followed by Saudi Arabia ($700 million in 186 deals) and Egypt ($334 million in 84 deals). Oman rose to 4th place with $41.5 million, while Morocco and Tunisia led North Africa, raising $20.8 million and $13.1 million, respectively. Smaller ecosystems like Jordan, Qatar, and Lebanon showed modest growth but signalled long-term potential.
Fintech dominated with 30% of total funding ($700 million). SaaS excelled in Saudi Arabia, driven by its tech push, while Web 3.0 ($256.8 million) and e-commerce ($253 million) also performed well. Early-stage startups led investments, raising over $1.2 billion, while later-stage and pre-IPO rounds saw limited activity.
Female-founded startups raised just $27.6 million (1.2% of funding), though this marked progress from 2023. Startups co-founded by men and women secured $192 million, despite fewer deals.
The full report is available here
Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.
Aggregated From –
Comments are closed.