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Saudi startups collect 58% of $375m in funding in MENA

A Saudi man counts banknotes at his jewelry shop at Tiba market in Riyadh.
By TRENDS Desk
March 10, 2022 11:26 pm
  • Startups in the logistics sector raised the most funding in February with $120 million in the region, and the Kingdom’s startup Trukker secured $96 million in its series B round
  • Saudi Arabia was also the most active in terms of investor participation with 27 deals, while UAE investors participated in 22 agreements

Saudi startups have secured 58 percent of the total $375 million in funding, in the MENA region, in February.

Startups in the logistics sector raised the most funding in February with $120 million in the region, and the Kingdom’s startup Trukker secured $96 million in its series B round.

Saudi Arabia was also the most active in terms of investor participation with 27 deals, while UAE investors participated in 22 agreements.

The United Arab of Emirates startups raised $77.6 million while Egypt pulled in $70 million.

Together with Saudi Arabia, those three markets amounted to 98 percent of overall funding in the region.

 

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