Egypt Number of Startup Deals and Funding Amount ($ Millions) 2019-2023
25 March 2024•
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Egypt’s tech ecosystem has consistently witnessed the signing of over 165 deals, annually, since 2019. Average ticket-sizes were low in 2019-2020, hovering at about $600,000 per deal. In 2021, everything jumped upwards: 200 deals were inked in a single year, the average cheque size jumped to $3 million, and Egypt went from a $100M per year funding market to startups raising $607 million in a single year.
In 2022, Egypt continued to see growth - fundraising $810 million across 212 deals, with average cheque sizes growing again to $3.8 million. 2023 was the year that funding and deals fell, back down to 2019-2020 figures, if we consider removing MNT-Halan’s $400 million debt-financing round early in the year. MNTHalan’s mega-deal also ticked up the average cheque size to $7.9 million in 2023.
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