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Most Funded Startups in MENA Region, 2020 (in US$ MN)
Despite the challenges faced during the pandemic, Sehteq managed to raise over US $23 million in funding for its series A round from 971 Capital and acquired Dawa Express that same year.
Sehteq also ranked 4th highest in MENA for “first-time fundraising”, falling behind STCpay, Sweetheart Kitchen, and Jahez; the insurtech startup was also the 11th most funded startup in MENA overall in 2020.
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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.
