Business

MENA startups raised $646m in October

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Sun, 2022-11-20 03:52

CAIRO: Startups in the Middle East and North Africa region raised $646 million in funding across 69 deals witnessing a 331 percent year-on-year growth.

The region’s startup ecosystem raised a total of $3 billion this year with over 551 deals so far, according to startup news outlet Wamda.

Companies from the UAE, Egypt and Saudi Arabia were the top-performing last month, as all three countries

have been securing their positions on top of the list since the beginning of the year.

Egypt came in second with investments totaling $113 million in 18 deals, massive upturn compared to its total of $8 million raised in September. (AFP)
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