Despite the current crisis, H1 2020 has seen $659M invested in MENA-based startups, which is already 95% of total funding full-year 2019 and is concentrated in 3 countries
As H1 2020 saw an increase of 35% in total funding compared to H1 2019, we saw further growth of ecosystems across the MENA region. Many governments have doubled down on supporting entrepreneurs and investors in the current climate, but funding has been concentrated in 3 ecosystems across the region. You can purchase the full report here.
What's included in this 70+ page report?
MENA's most comprehensive research report on venture trends
- Funding Trends in MENA, incl. deals & funding evolution, avg. funding, and top deals
- Exits in MENA, incl. a list of all H1 2020 exits
- Investors in MENA, with most active investors ranked by funding stage
- Industry Insights, with deep-dives in top industries FinTech, Delivery, and E-commerce
- Pre-money Valuation by Funding Stage, highlighting the avg. pre-money valuation at Seed & Series A
- Country Rankings & Trends, incl. a ranking of MENA countries by deals and funding
The United Arab Emirates (UAE) continued to account for the largest share of total funding (59%), with large deals including EMPG ($150M), Kitopi ($60M), and SellAnyCar ($35M). Countries such as Egypt and Saudi Arabia, however, saw more than a 100% increase in their total funding from H1 2019 to H1 2020, while the UAE saw a more modest increase of 28%. These three countries make up the top 3 in both total funding and number of deals.
While the UAE, Egypt, and Saudi Arabia accounted for the highest number of deals in MENA in H1 2020 as well, Oman saw a notable change compared to H1 2019. The country increased its rank by 3 places, accounting for 12% of total deals in H1 2020, 11% higher than H1 2019.
A big contributor to this increase in the number of Omani deals are accelerator programs, with Oman Technology Fund (otf) accelerating the majority of the startups in the country through its Techween and Wadi accelerator programs.
Purchase the full 70+ page report here for the most comprehensive insights into MENA's venture funding trends in H1 2020.