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FinancialNews
12-04-21
Saudi startups increase 137.5 percent on last quarter’s fundraising total of USD32M
(MENAFN)Saudi startups increased USD76 million in the first three months of the current year, a 137.5 percent improvement on the last quarter’s fundraising total of USD32 million.
About USD396 million increased from 125 agreements in the Middle East and North Africa in the first quarter of the current year, according to Entrepreneurship platform Wamda.
The UAE was the biggest market with 38 deals valued at USD256 million, as Egypt had 34 agreements valued at USD22 million, and Saudi Arabia had 28 deals valued at USD76 million.
March claimed 43 deals valued at USD170 million, with agritech posting as the biggest sector with USD50 million, followed by logistics (USD37.5 million), food tech (USD30.2 million), fintech (USD26.5 million), mobility (10 million), and e-commerce (USD8 million).
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