RIYADH: Startups across the Middle East and North Africa region witnessed multiple funding rounds across various sectors over the past week, as firms continue to seek cross-border expansion and increase their offerings.
This momentum builds on the record $3.5 billion funding received by startups in September, marking a 914 percent month-on-month and 1,105 percent year-on-year leap, according to Wamda data. Saudi Arabia topped the regional charts, with 25 startups collectively raising $2.7 billion.
The sustained momentum in early-stage funding reflects continued investor interest in the region amid global economic headwinds.
Saudi Arabia’s Ghanem raises $7.1m
Saudi Arabia-based property tech firm Ghanem has raised $7.1 million from Al-Romaih Group, one of the leading investment groups in the Kingdom, with experience in the real estate and financial sectors.
