Book a free demo with us
Book Now
May 2024 MENAPT VC Funding: Proptech Startups Take Top Spots

Register for Free or Login to Continue Watching Videos

By Lucidity Insights Research Team • June 13, 2024

May 2024 MENAPT VC Funding: Proptech Startups Take Top Spots

In May 2024, startup investments in the MENAPT region (Middle East, North Africa, Pakistan, and Turkey) saw a decline, with total deal values dropping by 41% from $961.6 million in May 2023 to $571.2 million. The number of deals also fell by 38%, from 133 to 83. However, there are promising developments, particularly in Proptech, gaming, and e-commerce.

Key highlights include:

  • Property Finder (Dubai) secured $90 million in debt financing.
  • Spyke Games (Istanbul) raised $50 million in Series A funding.
  • XTEND (Tel Aviv) obtained $40 million in Series B funding.
  • Agora (Tel Aviv) closed a $34 million Series B round.
  • Keyper (Dubai) secured $4 million in pre-series A funding and $30 million through sukuk financing.

Despite the overall decline, Proptech led the way, showcasing strong investor interest in innovative real estate solutions. Watch the full video to explore how these trends are shaping the investment landscape in MENAPT!

Dubai's Venture Capital Ecosystem

There are 749 scale-ups that have raised over US $1 million in fundraising in the Middle East and North Africa region; collectively raising over US $19.5 billion, cumulatively, as of December 2022. Over 40% of these scale-ups call Dubai home.

Other Videos

Will a Proptech Revolution Happen in the MEA?

Explore how Proptech is transforming the property sector in the MEA. Learn about the challenges, solutions, and potential for a tech-driven revolution.

MENAPT VC Funding Up +17.3% in June 2024 Despite Fewer Deals

June 2024 MENAPT VC funding rose 17.3% with InSightec leading in healthtech. Explore the month's key investments in blockchain and SaaS.

UAE's 10 Most Funded Startups: H1 2024 Roundup

H1 2024 - Top 10 Funded Startups in the UAE

Top 10 Most Funded Startups in MENAPT H1 2024: UAE Tops with a $1.5B Round in AI

MENAPT’s H1 2024 VC funding reached $4.73B, with G42 and Telegram leading the top 10 funded startups. Discover key investments shaping the region.

[Trailer] "The Perfect Pitch" Podcast by Lucidity Insights

Join free founder masterclasses with top VCs from the Middle East & Africa. Learn about VC funding, perfecting pitches, and mastering fundraising strategies.

March & Q1 2024 MENAPT VC Funding Recap: Telegram and Salla Lead with Major Investments Amid VC Winter

Q1 2024 sees MENAPT VC funding drop to $1.52B with top deals by Telegram and Salla. Discover the top 5 deals in this recap. Watch the video for more insights!

Dubai's Dominance in MENA's Thriving Venture Capital Scene

Dubai, home to 306 scale-ups, leads with over 90% in the UAE and 40% in MENA. Watch our video to see why it's the MENA region's top digital economy hub.

What are the Top Performing Tech Sectors in Dubai?

Which technology sectors are leading the pack in terms of funding and growth in Dubai? Watch this video to discover insights from global venture capitalists.

How Mega Rounds and Diversified Capital are Fueling Dubai's Startup Ecosystem

The rise in large funding rounds and diverse capital sources is driving Dubai's startup scene to new heights. Watch this video to explore Dubai's growing role as an innovation hub

The MENA Startup Exit Routes

Viability and availability of exit options for startups remain key concerns for venture capitalists. What about startups in the Middle East and North Africa?