In 2021, more than 50 per cent of the world’s private investment funding went to startups in the United States. The other four top countries with the most private funds invested are China, the UK, India and Germany.
By October 2021, investments in Middle East and North Africa startups nearly approached the $2 billion mark, with some sectors growing by 50-300 percent compared to the previous year.
According to management consultancy RedSeer, the funding raised by region’s start-ups between Jan 2021 and Aug 2021, was twice the annual funding raised over the past three years.
The consultancy said the upsurge has been driven by the digital economy, with players across sectors and stages of evolution closing strong funding rounds.
A sizable portion of this investment has landed in the GCC region, where several business success stories, such as Careem and Kitopi, are fueling their own local startup ecosystems.
Here is the startup investment scene in the GCC region in January 2022.