By Lucidity Insights Research Team • 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.
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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.
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