(MENAFN)According to the statistics, Saudi Arabia dominated the startup investment market in the Middle East and North Africa (MENA) region in last month.
Data from entrepreneurship platform Wamda declared that about USD110 million was raised across 35 deals over the stated month.
And the majority came from Saudi Arabia where nine startups increased USD46.6 million, most through the USD30.5 million Series B funding by Sary, a business-to-business (B2B) marketplace that links small firms and wholesalers.
Arab News quoted Wassim Basrawi, the managing director of Wa’ed, the entrepreneurship arm of Saudi Aramco as saying that “It is not surprising that venture capital deal making is picking up in the Saudi market. We’ve been observing that now for months as the Kingdom emerges from (the coronavirus disease) COVID-19 pandemic.”
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