During the first half of the current year, startups in the Middle East have succeeded in raising $1.8 billion, according to a MAGNiTT report.
The fintech sector remained the most capital attracting sector, raising nearly $1.7 billion and accounting for 34 percent of the total funding secured across all markets.
Transport and logistics and e-commerce came in second and third, each raising respectively $1 billion and $501 million.
The region saw three startups in the top-10 investment rounds across the MENA region, Pakistan, Turkey, and Sub-Saharan Africa, thanks to Saudi Arabia’s Foodics, UAE’s Pure Harvest Smart Farms, and Bahrain’s Rain.
The report also indicated that 33 mergers and acquisitions were recorded in the MENA region.
