MENAPT Funding Rounds Wrap Up: 2024 vs 2023

In 2024, global VC funding remained steady in dollar terms but shifted toward fewer, larger rounds—driven primarily by AI, which claimed one-third of all VC dollars. The MENAPT region bucked the trend by both increasing its total funding to US$10.19B (up from US$9.69B) and simultaneously reducing deal volume from 1,486 to 932. This signals investors’ growing preference for high-conviction bets on scalable startups.

A look at the year’s top deals reveals three notable themes:

1. AI & Deep Tech Surge – G42’s landmark US$1.5B funding from Microsoft underscores fierce competition for AI dominance.

2. Debt Financing Rises – Tightening equity markets led late-stage startups like Quantix and Telegram to secure large debt deals.

3. Pre-IPO Maturity – Sizable rounds for Salla and Cadena highlight a burgeoning pipeline of companies preparing to go public.