UAE leads MENA start-up investments in November with $146m across 11 deals
Stay Informed
Get Industry News In Your Inbox…
Sign Up Today
Tech startups in MENA raised $258 million across 46 deals in November, marking a 92% monthly increase.
According to a new report from Wamda and Digital Digest, the UAE was the top-funded MENA ecosystem in November, with $146m across 11 deals.
Saudi Arabia followed with 23 startups raising $94 million. Egypt ranked third in MENA funding as eight startups raised nearly $16 million, a decent rise from $1.6 million last month.
E-commerce takes the lead
As for various sector performances, e-commerce led with $104 million from seven startups. Fintech came second with $80 million across four startups. SaaS providers emerged with $21 million across seven funding rounds.
In November, Series A startups attracted $23 million through two deals, while pre-seed startups led by deal count raised $5 million across 16 transactions.
B2B startups were the top funding recipients with 48% of investments, while B2C startups secured only $11.5 million.
Male-led startups received 90% of the funding, female-led startups received $583,000, while mixed-gender co-founded startups secured $22.5 million.
