The Top 10 Most Funded Startups in the UAE (2023)

The UAE is increasingly establishing itself as a vibrant hub for innovative technology companies, drawing substantial venture capital investment across diverse sectors. In 2023, the top-funded companies highlight the region's dynamic and multifaceted tech ecosystem, encompassing fintech, social media, augmented reality, and virtual reality gaming. This strategic focus on fostering a favorable business environment and strong governmental support for digital transformation is significantly bolstering the UAE's position as a key player in the global tech landscape. 

2023 saw two megarounds with Alpheya raising US $300 million in a venture round and Telegram Messenger with a US $210 million in the form of debt financing.

The other 8 startups making the top funded list in 2023 are:

• HyperSpace secured US $55 million in series A financing led by Galaxy Interactive
• Cadena raised US $43 million in its series A funding round led by ADCN
• Xpanceo closed its seed round at US $40 million from Opportunity Ventures in Hong Kong
• Sabre56 raised US $35 million
• Tarabut completed a US $32 million Series A funding round led by local investor Pinnacle Capital
• Zeebu raised US $25 million in a presale funding round with participation of Bankai Ventures
• qlub closed its second Seed round of US $25 million led by Cherry Ventures and Point Nine
• Nümi raised a Seed round of US $20 million led by Venom Ventures