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Dominant MENA Cities based on Number of Tech Scaleups
Dubai’s dominant streak keeps going as it tops the list of the top 50 most funded startups in the MENA region, with 27, and the country has 30 startups on the list. Of the remaining, 17 hail from Saudi Arabia and Egypt. There are startups from four other countries on the list, including Algeria, Bahrain, Lebanon, and Qatar.
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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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