The Investments of Startups in the Arab World in November Hit a Record High
The startups in the Middle East and North Africa continued to attract significant investments in November, with total funding reaching $379 million compared to $147.4 million in October 2023. This marks a staggering increase of 157.1% on a monthly basis, according to data from the “Digital Digest” platform.
Regarding venture capital investments in Arab startups, a significant portion flowed towards Saudi companies, capturing 81.1% of the total investments, while Emirati companies secured 15.3%.
During the last week of November, 18 startups in the region received investments totaling $73.6 million, including a $25 million pre-Series A funding round for the Emirati company, Flow48.
In terms of investment distribution by country, Emirati companies received 45.5% of the total investments, followed by Saudi companies at 27.3%, with Egyptian companies at 9.1%. Moroccan and Tunisian companies each accounted for 6.1% of the investments.
Continuing the trend, the total funding acquired by startups in the Arab region during the first 11 months of 2023 escalated to approximately $1.72 billion, up from $1.34 billion by the end of October last year.
These figures reflect the persistent growth momentum and attractiveness of investment in this sector, with startups amassing $1.19 billion during the first quarter of the current year, rising to $184.05 million in the third quarter.
Furthermore, 350 startups in the Arab region received funding during the initial 11 months of this year, indicating the sustained growth and robust dynamism witnessed in the startup sector in the region.
