MENA start-ups raise $659mln in H1 2020
Tuesday, 07 07 2020, Category: Economy, Country: Middle East
MENA-based start-ups have raised $659 million in the first six months of 2020, with the UAE receiving the largest share of the total funding, a recent report showed.
The report by startup data platform MAGNiTT, titled “H1 2020 MENA Venture Investment Report”, revealed a 35 percent increase in total funding from H1 2019 to H1 2020, with the funding for H1 2020 already reaching 95 percent of the full year funding in 2019.
The UAE received 59 percent of the total funding in H1 2020, the largest share, while Egypt maintained its first rank in number of deals (25 percent).