MENA startups raise $105m in July, the lowest in 2022 so far

RIYADH: The Middle East and North Africa region witnessed a drop in investments in July raising only $105 million in 44 deals.

According to Wamda monthly report, investments in July proved to be the lowest in 2022 so far with funding dropping 84 percent year-on-year and 68 percent month-on-month. 

Saudi Arabia witnessed a 55 percent decline as compared to June.

The UAE witnessed a 73 percent drop in investments followed by Saudi Arabia with 55 percent decline. Egypt was the only country to have experiences a rise of 72 percent in startup investments.