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MENAPT 2024 Funding Wrap-Up: A Clear Shift in Investment Dynamics

MENAPT 2024 Funding Wrap-Up: A Clear Shift in Investment Dynamics

By Pierrick Ribes 18 February 2025
Calculator, pie chart, and an upward arrow on financial documents with glasses on a green background.

The global venture capital landscape in 2024 has been marked by a shift toward concentration over expansion. While overall funding remained stable, the number of deals declined significantly, signaling a trend of fewer but larger rounds. Artificial intelligence (AI) emerged as the dominant sector, drawing an unprecedented one-third of global VC dollars.

The MENAPT region mirrored this shift but with a notable distinction: funding volume increased. In 2024, MENAPT startups raised US $10.19 billion across 932 deals, compared to US $9.69 billion across 1,486 deals in 2023. While global markets faced uncertainty, the region continued to attract capital, with larger funding rounds reflecting investor confidence in scalable, high-growth businesses.

The top 10 funding rounds of 2024 highlight three key trends:

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Mentioned Startup & VC Profiles
Salla

Salla

Salla allows users to easily set up an e-commerce store in Arabic through their platform.

MNT-Halan

MNT-Halan

MNT-Halan, a fintech ecosystem in Egypt, was formed through the acquisition of Halan by MNT Investment in June 2021. It offers various financial services, including Buy Now Pay Later, microfinance, and payments solutions that aims to bank the unbanked. Users can disburse, collect, and transfer money digitally through mobile applications.

Telegram

Telegram

Telegram is a cloud-based instant messaging app that allows users to securely send messages, photos, videos, and other files to individuals or groups with over 500 million active users worldwide.

G42

G42

G42 is a United Arab Emirates artificial intelligence (AI) and cloud computing company.

Hailo

Hailo

Hailo is a pioneering developer of specialized deep learning processors, aiming to empower edge devices with data center-level computing performance and bridging the gap between current and future AI technologies.

Data Ownership Protocol (DOP)

Data Ownership Protocol (DOP)

DOP (Data Ownership Protocol) is restoring control to users over their own data in the Web3 economy. Our protocol enables selective transparency of user data, empowering people to own and control their financial information.

Cadena

Cadena

Cadena is a hybrid solution for overseas growth. Cadena combines local sales, AI-driven prospecting tools and CadenaPay invoice factoring.

Pathfinder

Pathfinder

Pathfinder is an information technology company that provides AI-based retail intelligence solutions for brands and companies.

Quantix Technology Projects

Quantix Technology Projects

Quantix a subsidiary of Astra Tech, is proud to be the first UAE-based fintech to receive a Finance Company License from the UAE Central Bank since 2008. Focused on driving financial inclusivity, Quantix offers innovative solutions in personal financing, setting a new benchmark in the UAE's fintech industry.

Nostromo Energy

Nostromo Energy

Nostromo Energy provides a large-scale, commercially available behind-the-meter (“BTM”) energy storage solution for widespread, grid-interactive deployment in commercial and industrial (C&I) buildings. It enables customers to realize both energy cost savings and greenhouse gas reduction and supports grid modernization and decarbonization through intelligent, large-scale load management as a virtual power plant (VPP).

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