MENA Total Funding 2012-2022, US$ Million

Dubai-based startups have achieved unicorn status through various funding rounds from 2021 to 2022, including notable instances such as Careem, Noon, Vista Global Holdings, Telegram, EMPG (Dubizzle Group), Yalla, stc pay, Fawry, Jahez, Zeta, Kitopi, Aleph Holding, and MNT-Halan.

It is not just VC money that Dubai-based startups are attracting, Dubai-based scale-ups also enjoy a lion’s share of Private Equity rounds, corporate rounds and “others,” which is categorised by fundraising vehicles such as debt financing, equity crowdfunding, grants and convertible notes.