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20-11-22
MENA startups collects USD646M through investments deals
(MENAFN) Startups in the Middle East as well as North Africa region collected USD646 million in investments through 69 agreements seeing a 331 percent surge on a yearly basis.
The region’s startup ecosystem collected an overall of USD3 billion in 2022 with more than 551 agreements up to now, as said by startup news outlet Wamda.
Firms from the UAE, Egypt as well as Saudi Arabia were the highest-performing last month, as all three nations have been locking their spots on top of the list as of the start of 2022.
Top of the list is the UAE which collected USD460 million in 24 agreements last month, a massive growth in comparison with the nation’s USD27 million collected last month.
The UAE witnessed one of the largest funding rounds in the area because of clean technology startup Yellow Door Energy’s USD400 million investments.
Egypt came in the second spot with funding amounting to USD113 million in 18 agreements, with the top three fundraisers
MENAFN20112022000045014228ID1105208576
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