RIYADH: Startups across the Middle East and North Africa saw multiple funding rounds in the past week, as companies across a range of industries seek geographical expansion.
Earlier this month, a report released by Wamda revealed that startup investment across the MENA region accelerated sharply in July, with total funding reaching $783 million, representing a 1,411 percent rise compared to the same month in 2024.
Saudi Arabia led regional funding activity, securing $396.5 million across 16 deals in July, while the UAE followed with $359 million raised in 22 startups.
Gathern raises $72 million
Saudi Arabia’s vacation rental platform Gathern raised SR270 million ($71.94 million) in a series B funding round, led by Sanabil Investments, a wholly owned subsidiary of the Kingdom’s sovereign wealth fund.
