Pioneers Investors – MENA startups earned $267 million through 44 deals in June, taking second-quarter investments to more than $552 million, a 33% increase compared to the first quarter of 2021.
Tappy’s acquisition of $50 million in debt financing pushed the UAE to the fore in terms of investment value in June, with Emirati companies receiving a total of $137 million last month through 14 deals. UAE company “Eyewa” ($21 million) and The Luxury Closet ($14 million) each closed a second funding round, while Opuntia managed to secure $20 million in an initial funding round for its e-commerce enablement platform.
Perhaps one of the most exciting investment deals in June was that of Egypt’s Trilla, which raised $42 million in new capital and loan facilities in a financing round led by global shipping giant Maersk. In general, eight Egyptian startups received $52 million, ranking Egypt second in terms of the number and value of deals.
The large financing rounds in the e-commerce sector, including those of Floward Company ($27.5 million) and the Open Souq platform ($24 million), led to the total investment in the sector rising to $110.9 million through nine deals, while nine start-ups got Fintech is $71.5 million. The logistics sector came in third place in terms of financing value, as it received $49 million thanks to the Trella round.
Of the 44 investments in June, 37 went to startups founded by men, and the other seven went to mixed teams of founders. As for start-ups led by women founders, they did not receive any funding.
In the first half of 2021, 247 investment deals were concluded in the Middle East and North Africa (MENA) region, the value of which nearly exceeded one billion dollars, amounting to 977 million dollars, of which 44% went to Emirati startups, 27% to Saudi companies, and 12.5% to Egyptian companies.
The financial technology sector received the largest amount of investments, amounting to 306 million dollars, of which 110 million dollars was obtained by the Saudi Tamara company alone, which raises the slogan “Buy Now, Pay Later,” in its first financing round. E-commerce performed well again with investments of $181 million, primarily driven by business growth among e-commerce companies, and finally, logistics startups with $103 million, which reflects the strength and growth of online shopping in the region. Middle east.
The top 10 funding rounds in the first six months of 2021 were:
Tamara: $110 million in the first funding round
Pure Harvest: I got 50 million dollars through sukuk
Tappy: $50 million in debt financing
Anghami: $40 million through its merger with a special purpose acquisition company
Trella: $42 million in new capital and loan facilities
Levy: $35 million in the second funding round
Yellow Door Energy: $31.2 million in debt financing
Floward: $27.5 million in Kuwait in the second financing round
STARZ PLAY: $25 million in debt financing
Sarri: $20.5 million in the second funding round
Male start-ups were also dominant, receiving the bulk of the investment at 96% in the first six months of 2021, while female startups received only 0.9%.