MAGNiTT founder & CEO Philip Bahoshy will be hosting key stakeholders from the Saudi ecosystem.
Wednesday the 3rd of Feb at 7:00PM KSA / 8:00PM UAE time. 



• The fast-growing KSA ranked 3rd for total funding in MENA, as it catches up to the UAE and Egypt ranking 1st and second respectively.  

• In H1 2020, several high-profile funding rounds included Jahez ($36.5M), Nana ($18M), and Noon Academy ($13M). Each of these startups is notably active in industries that have seen a significant increase in adoption amid COVID-19: Jahez and Nana are active in food and grocery e-commerce, respectively, while Noon Academy focuses on the EdTech space. As a result, E-commerce obtained the top spot as the most active industry by both total funding (45%) and number of deals (20%)
• 2020 saw multiple large break-out deals in KSA, with the increase in the total funding amount partially attributable to KSA’s top-5 deals by funding amount that accounted for 56% of all the KSA-based startups in 2020.


• COVID-19 impact was observed in the second half of 2020 with a 63% decrease in deals compared to the first half of 2020.


E-commerce investments accounted for 45% of all venture funding in KSA. Transport climbed +13 spots in the rankings to 2nd for capital allocation.


• The full year's amount of $152M was mostly driven by a record H1 2020, with $111M raised in the first half of the year, surpassing the total amount raised in the year of 2019.

This report was created with data from MAGNiTT, which is a comprehensive directory of emerging tech and new business strategies through tools like:

Investment directories, a comprehensive list of all startup venture funding across the Middle East, North Africa, Pakistan and Turkey

Market sizing tools to visualize investment growth and trends across industries, geographies and stage

Startup resources including a deal flow tool for applications to leading Venture Capitalists for investment

Exit comparisons, looking at Mergers & Acquisitions from across the region


If you aren’t already a client, sign up for a free trial to learn more about our platform.