Keeping up with the Series: Our roundup of November’s investment activity
MAGNiTT's November 2020 Dashboard revealed that a total of 26 MENA investment rounds were closed in the month, marking a 30% increase from October 2020 (20). A total of $47M was invested across the mentioned deals, which was in fact a $5M drop from the previous month.
We recently published an article to highlight the 10 Seed rounds that took place in October, which illustrated a promising increase in early-stage investments. This was following a decline as investors took fewer risks due to the COVID-19 crisis, focusing on more experienced, later-stage startups.
However, interestingly November witnessed a solid increase in the number of Pre-Series A/Series A investment rounds in the Emerging Venture Markets startup ecosystem (11 deals).
With a rocky and unpredictable year, it may be reasonable to state that it's also been a rocky year for VC funding. Can we make valid predictions when month on month the trends seem to shift? Despite this, we believe it's important to shine a light on the startups that have raised their second or third round of funding and how the newly raised capital will help them to continue thriving.
Meet and connect with the Emerging Venture Markets startups who raised their Pre-Series A/Series A rounds and were published on MAGNiTT in November below (the startups are categorised by the date that they were announced).
Access our new November 2020 Dashboard Report for a full, detailed overview of all investment activity in the month.
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Brantu is a digital marketplace that enables local and global fashion brands to reach Egyptian fashion consumers.
They raised a seven-figure Series A round to fuel the growth of its user base, increase its verticals, and capture the growing market share within Egypt's fashion industry.
Cartlow, a UAE-based re-commerce solution where customers can order pre-owned, refurbished, open-box, and clearance products, announced a $2M Pre-Series A round and launched its sister company - VASCART.
3. ATLAN Space
ATLAN Space develops artificial intelligence to guide unmanned aircrafts (UAV) in their data collection and tracking missions over large geographical areas.
The Pakistan-based beauty and fashion E-commerce platform successfully closed a $900K Pre-Series A investment, to expand to multiple cities in Pakistan and upgrade their technology stack, inventory management systems, and logistics partnerships.
5. Brand Ripplr
Brand Ripplr is an online marketplace that simplifies the entire influencer marketing process for businesses based in the UAE.
They secured a $1M Series A funding round to expand Brand Ripplr’s footprint across the region including in Saudi Arabia.
Conatural Beauty is a Pakistani and female-led natural and organic skin and hair care brand, which announced an $825K Pre-Series A round, in order to accelerate the growth of the company by creating new product lines and online channels.
ExpandCart provides E-commerce solutions to enable merchants and retailers to build their online stores and expand their sales.
A KSA-based integrative platform between electronic product platforms, payment systems, and delivery companies, Salla, raised $8.5M in a Series A round.
The company will invest in developing its product and expanding its geographical footprint within Saudi Arabia and the wider MENA region.
Yahaal is a Kuwait-based E-commerce platform that specializes in providing a wide range of children and baby products.
The startup closed a Series A funding round, to fuel its expansion plans and development of its operational infrastructure.
The emerging legal-tech entity provides complete legal practice management solutions to law firms and legal teams within organizations.
App4Legal has announced a Pre-Series A investment to bolster strategic growth plans across Asia and Europe.
Lahore-based fashion E-commerce startup Clicky.pk, closed a $700K Pre-Series A investment round, to invest in logistics and the supply chain in four major cities of Pakistan, focusing on improving the platform's customer experience.
Did we miss anything? Connect with me and share your thoughts!
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