Dubai, UAE— Startups in the MENA region have been raising a sizeable amount of funding during the course of the ongoing year, but the fear of global economy going into a recession weighs heavily across the region as many startups rue the decline in investments.
The startups in the region have raised more than $2.5 billion this year and made more than 500 deals, according to a few estimates.
The UAE raised $460 million in 24 deals in October, a huge boost compared to the country’s $27 million raised in September. Egyptian and Saudi companies also performed well during the last month,