RIYADH: Startup funding across the Middle East and North Africa posted a 74 percent year-on-year increase in August, with $337.5 million secured across 47 deals.
The figure reflects continued investor interest amid market recalibration, although the monthly total is a 57 percent drop from July’s record $783 million.
Saudi Arabia led the region for the second consecutive month, attracting $166 million across 19 deals, while the UAE followed with $154 million raised by 11 startups.
The funding concentration in Saudi Arabia and the UAE highlights their dominance in regional venture activity.
Egypt, typically a top-three performer, saw continued weakness with just $14.7 million raised across eight startups.
