In the first half of 2024, startups in the Middle East and North Africa (MENA) region secured a total of $882 million in funding. This represents a significant increase compared to the same period in 2023, when MENA startups raised $756 million.
The growth in investment reflects the growing interest in the region's startup ecosystem, which is attracting more attention from investors looking for promising opportunities.
In the first half of 2024, the UAE remains the top-funded ecosystem, with 91 startups raising $455.5 million. However, this figure marks a decrease from the $604 million raised during the same period in 2023. Saudi Arabia also witnessed a decline, attracting $300 million compared to last year’s $554 million.
Egypt’s economic challenges significantly impacted its startup ecosystem. Only 33 startups raised $83 million in H1 2024, a staggering 80% drop compared to last year.