June 2024 witnessed a slowdown in investment pace in tech startups in the Middle East and North Africa (MENA) region, with 38 startups raising $116 million, bringing the total funding in the first half of the year to $882 million.<\/p>\n\n\n\n
This slowdown represents a 59% decrease compared to May, but it remains 182% higher than the same period last year, indicating sustained long-term sector growth.<\/p>\n\n\n\n
The United Arab Emirates led the region in attracting investments, with its startups raising $82.5 million. Egypt ranked second with $15 million in funding, while Saudi Arabia fell to third place with $13.5 million. Iraq also saw notable investment activity, with six startups raising $1.2 million.<\/p>\n\n\n\n
June lacked large deals, while the fintech sector was the most funded, raising $38 million. Proptech companies also made significant progress, raising $19.6 million.<\/p>\n\n\n\n
Funding rounds focused on early stages, with four startups receiving $45 million in Series A rounds. B2B startups dominated the scene, raising $66.4 million, while B2C startups raised $49.5 million. As always, male-led startups dominated the funding, raising $103.4 million, while only two female-led startups received $200,000. Additionally, last month saw grants totaling $140,000 awarded to eight pre-seed startups.<\/p>\n\n\n\n
This investment slowdown indicates a cautious trend among investors, but it still represents tremendous growth compared to last year. The MENA region remains a promising market for startups, with significant opportunities across various sectors.<\/p>\n","protected":false},"excerpt":{"rendered":"
June 2024 witnessed a slowdown in investment pace in tech startups in the Middle East and North Africa (MENA) region, with 38 startups raising $116 million, bringing the total funding in the first half of the year to $882 million. This slowdown represents a 59% decrease compared to May, but it remains 182% higher than […]<\/p>\n","protected":false},"author":2,"featured_media":29139,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"post_subtitle":"","footnotes":""},"categories":[1772],"tags":[3604,3605,3820],"class_list":["post-29136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startups","tag-middle-east","tag-north-africa","tag-startups"],"_links":{"self":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/29136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/comments?post=29136"}],"version-history":[{"count":0,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/29136\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media\/29139"}],"wp:attachment":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media?parent=29136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/categories?post=29136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/tags?post=29136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}