February 2024 MENAPT VC Funding: Significant Declines with Key Investments in Cybersecurity and AI

As we step into February 2024, the venture funding pulse in the MENAPT region shows a significant slowdown compared to the previous year. January 2023 saw total deal values surpassing a billion dollars, but this year, the figures have dropped sharply to $520 million. The number of deals also plummeted from 201 to just 88, indicating a more conservative investment landscape influenced by economic uncertainties. Despite this, notable startups like Israeli cybersecurity company Silverfort raised $116 million, and Aqua Security secured $60 million. Dubai-based True Gamers and AgriTech startup Bluewhite also made strides, along with TravelTech startup Tumodo. This January, cybersecurity investments took top spots, emphasizing the growing demand for digital security.

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