RIYADH: Startups across the Middle East and North Africa region witnessed multiple funding rounds in the past week, as companies across a wide range of industries continue to expand their operations.
The sustained momentum in early stage funding reflects continued investor interest in the region amid global economic headwinds.
A report released by Wamda revealed that startup funding in the MENA region witnessed a 74 percent year-on-year increase in August, with $337.5 million secured across 47 deals.
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.
Spare secures $5m
