Pioneer Investors – Startups in the Middle East and North Africa raised about $645 million investments last October through investing in 61 startups.
These numbers show that the total funding for startups is 3.5 times more than the value invested in October 2021, which amounted to only $199 million. So, a strong tendency to invest in start-ups in the MENA region could be indicated.
However, it is worth mentioning that “Yellow Door Energy” acquired the most significant stake with a total investment of $400 million. But even if we do not consider the $400 million deal in calculations, the remaining $254 million still exceeds last year’s total funding in October.
Also, more deals are expected to be announced in the next nine weeks, as both Q4 and Q1 are historically the two most active quarters in financing.
The UAE also acquired the largest share of the total financing last October, at 72.5%, then Egypt at 16.6%, and then Saudi Arabia at 10.5%.
It is noteworthy that the total investment deals in startups during 2022 amounted to $2.89 billion until the end of October 2022 for 510 deals.