Overview of MENA Tech Venture Funding and the Evolution of Venture Funding in Dubai

Overview of MENA Tech Venture Funding and the Evolution of Venture Funding in Dubai

By Ashok Raman, 31 July 2023

Funding rounds go around

From 2012 to 2022, there have been over 4,500 funding rounds, of which more than one-third occurred in the UAE, followed by Egypt and Saudi Arabia. Among the rest of MENA countries, Jordan is the only country accounting for more than 5% of the funding rounds.

Infographic: MENA Number of Funding Rounds, by Country, 2012-2022

In terms of capital raised, the last decade has seen US$19.7 billion in funding, by all startups, on a disclosed value basis. The UAE shines once again, accounting for nearly two-thirds of all the capital raised. While Egypt was positioned second in terms of number of funding rounds, the country settled in third position for capital raised, behind Saudi Arabia with over US$3.5 billion, accounting for 19% of total MENA capital raise.

Infographic: MENA Total Capital Raised, by Country, 2012-2022

There are 2,654 startups that reported a fundraising round, however 27% have not disclosed any funding value. Of the remaining 73% (startups which have disclosed any funding value at all), 44% have raised less than US$1 million till date while 28% are scaleups, which have raised US$ 1 million and above.

Infographic: Tech Funding in MENA from 2012 to 2022


To get the lay of the investor landscape across Dubai and MENA, and for insights provided by the investors backing the start-ups and scale-ups that are changing the face of entrepreneurship in the region, read the report by clicking here.



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Dubai's Venture Capital Ecosystem

There are 749 scale-ups that have raised over US $1 million in fundraising in the Middle East and North Africa region; collectively raising over US $19.5 billion, cumulatively, as of December 2022. Over 40% of these scale-ups call Dubai home.

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