MENAPT Funding Rounds Total Deal Value ($USm) & Deal Count - Mar 24 vs. Mar 23

In March 2024, the MENAPT region saw a substantial influx of investments totaling $649.5 million, primarily buoyed by two megarounds. This influx comes despite a significant 62% reduction in the number of deals compared to March 2023. Notably, Saudi Arabia distinguished itself by more than doubling its deal count from the same period last year, securing $165.3 million across 13 transactions.

The standout megarounds were led by Telegram in the UAE and Salla in Saudi Arabia, which together constituted 71% of the total investment volume for the month. Among the top five funding activities, spanning a range of industries and stages, were:

1. Telegram, securing $330 million through debt financing,

2. Salla, raising $130 million in a venture round of an undisclosed series,

3. Sweet Security, capturing $33 million in its Series A funding,

4. Hunch, achieving $23 million in a Series A round, and

5. NeuReality, closing the list with a $20 million venture round of an undisclosed series.