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MENAPT Funding Rounds Total Deal Value ($USm) & Deal Count - Feb 24 vs. Feb 23
February continued the downtrend observed in January, with deal values plummeting by 67% compared to February 2023, reinforcing the persistence of the VC winter.
A substantial portion of this funding, amounting to $340.5 million and accounting for over 95% of the total MENAPT investment value, was concentrated in Israel and the UAE.
The five largest funding rounds, spanning various industries and funding stages, were centered in these two countries:
- Exodigo raised US $75 million in its Series A
- Flare Network raised US $35 million
- BRIA raised US $24 million in its Series A
- DustPhotonics raised US $24 million in its Series B
- Sensos raised US $20 million in its Series A
Related Report
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Dubai’s Digital Economy and Its Expanding Startup Ecosystem
Dubai’s startup ecosystem will have raised over USD 2 billion by the end of 2022, with self-employed and digital economy roles tripling. Few MENA markets have a 20-year-old startup ecosystem birthing multiple unicorns. Dubai has been the digital startup hub for tech giants and new unicorns alike. Since 2017, Dubai has raised 96% of UAE’s funds, totaling over USD 2 billion by October 2022. LinkedIn data shows a booming digital economy job market with increasing opportunities and remote work options. Learn from top home-grown startups and global transplants why Dubai is poised to become the next digital economy capital of the world.
