MENAPT Funding Rounds H1 2024 vs H1 2023

As the first half of 2024 concluded, the MENAPT venture capital landscape experienced a modest increase in total deal value, rising from $423.7 million in June 2023 to $497.1 million in June 2024, representing a 17.3% increase. However, the number of deals signed dropped significantly, from 111 in June 2023 to just 55 in June 2024, reflecting a sharp 50.5% decline.

This trend indicates a pattern observed throughout 2024, where fewer fundraising deals are being finalized, but those that are tend to be larger and at later stages. In 2024 so far, startups in the MENAPT region have completed 423 deals, compared to 823 deals in 2023. Despite the reduced number of deals, regional startups have raised $4,733.2 million, which is 2.38% higher than the $4,623 million raised in 2023, primarily due to significant megadeals occurring in April this year.

The notable megadeals in April include:

• G42 securing $1.5 billion from Microsoft.
• DOP raising $162 million.
• Hailo obtaining $120 million.

For more details, read the full article here