August 18, 2024
July 2024 MENAPT VC Funding Sees 3 Mega Rounds: Top 5 Fundraising Rounds
As the second half of 2024 kicks off, MENAPT's startup ecosystem is gaining momentum with a significant surge in VC funding. July 2024 recorded a 123% year-on-year increase in funding, totaling $1.171 billion, despite a drop in deal count. Leading the pack is UAE-based Pathfinder with a $325 million round, followed by Egyptian fintech MNT-Halan and Israeli healthtech Magenta Medical. The month also saw promising rounds from Sentient Labs and CytoReason, reflecting a strong focus on healthtech and AI innovation. Explore the details behind these major investments and what they mean for the MENAPT region's tech landscape.
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.
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