UAE witnesses unstoppable growth in 2022
Despite the impact of the pandemic, the UAE’s startup sector has been going uphill both in terms of funding and resources. UAE-based startups have raised almost $1.2 billion across 155 transactions maintaining their first rank worldwide.
Record amounts of capital invested in all geographies in the MENA
Based on the MAGNiTT’s 2022 MENA Venture Investment Report, a total of $2.5 billion capital from over 590 deals was deployed in MENA’s startups, with the top 3 highest value deals above $100 million coming from the region’s top 3 jurisdictions.
Google launches digital marketing program for MENA Startups
Google announced the completion of the first phase of the ‘Startup Expedition’ which aims to help the startups boost their growth using effective marketing strategies in the Middle East and North Africa. The 6-month program is joined by 13 imminent startups at their growing stage from the UAE, Saudi Arabia, and Egypt representing FinTech, Retail, and FoodTech.
MENA Startups raise around $864 million in Q1 2022
According to MAGNiTT’s Q1 2022 Venture Investment Report, $864 million was raised in venture funding over the first quarter of the year which thereupon signifies the strong start for the business ecosystem. This has surpassed the amount raised in the previous quarter by 33.3 and that of 2021 by 161%.
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