By Lucidity Insights Research Team • October 07, 2024
In September 2024, MENAPT tech startups experienced a significant 38% drop in funding compared to last year, totaling $568.7 million across 77 deals. Despite this decline, key sectors such as Mobility, Quantum Computing, CloudTech, and FinTech saw major investments. Notable startups include Saudi Arabia's SHIFT with $82.8 million, Israel's Quantum Source with $50 million, Qodo with $40 million, Saudi's Syarah with $40 million, and UAE's FlapKap with $34 million. This performance indicates a rapid recovery and renewed investor confidence, highlighting the region’s evolving focus on next-generation technology and innovation.
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MENAPT saw a remarkable 83% increase in VC funding in October 2024, with top startups like Anan, ONE ZERO, AFS, Zenity, and Port leading the charge.