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Saudi Arabia VC-Backed Tech Startups Deal Value & Count - 2022 vs 2023
In 2023, the venture capital (VC) environment in Saudi Arabia not only demonstrated resilience but also significant growth, establishing the Kingdom as a burgeoning epicenter for tech innovation and entrepreneurship.
Throughout the year, the VC scene saw a remarkable influx of investments totaling US $1.58 billion, distributed across 118 deals.
This represents a substantial increase in investment volume by 61% from 2022 despite a slight 11% decrease in the number of deals.
This growth is particularly striking in contrast to the broader GCC region, which experienced a notable venture capital downturn.
Across the region, total VC funding for tech startups saw a decline of 35% between 2022 and 2023, highlighting a challenging period for venture capital investments.
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The Evolution of Saudi Arabia Startup Ecosystem 2010-2022
The first comprehensive overview of Saudi's startup ecosystem, its history, and its future. The Special Report hosts perspectives and insights from many of the country’s most active investors, highlights new investment trends, critical milestones hit by the Kingdom’s fast-growing startup ecosystem, and spotlights a handful of interesting startups coming out of the Kingdom. It is packed full of insights, data, and opinions from the thought leaders and market-makers in the Kingdom. Readers will gain a deep understanding of the unique factors driving Saudi Arabia's entrepreneurial spirit, the challenges faced by startups, and the opportunities that lie ahead. This report serves as an invaluable resource for anyone looking to navigate and invest in this vibrant and rapidly evolving market.
