Dealroom – MENA Tech Update, 1Q 2024

In the first quarter of 2024, Middle East and North African startups received a total of $431 million in investments, surpassing the levels seen in 2019 and 2020. More than 40 funding rounds of $2 million or more were raised by startups in the region, indicating a healthy early-stage venture capital scene in the MENA region. However, the late-stage investment landscape was relatively quiet, with only one megaround taking place. Overall, the MENA tech sector is showing promising growth and strong support for startups at the early stages of development.