MENA startups raise $1.8bn in first half of 2022

Follow-ups -eshrag News:

Tue, 2022-07-05 15:13

RIYADH: Startups in the Middle East and North Africa region raised $1.8 billion in the first half of 2022 — hitting an all-time high of $974 million in the first quarter alone, said a MAGNiTT report.

The region saw three startups in the top-10 investment rounds across the MENA region, Pakistan, Turkey, and Sub-Saharan Africa, thanks to Saudi Arabia’s Foodics, UAE’s Pure Harvest Smart Farms, and Bahrain’s Rain.

The report also indicated that 33 mergers and acquisitions were recorded in the MENA region.

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