UAE-based Lyve Global reaches 86 percent of total funding in delivery, logistics startups

2021-08-29 02:37:19

(MENAFN) Data platform MAGNiTT showed that delivery and logistics startups in the Middle East and North Africa, Turkey, and Pakistan increased in funding activity in the January-June period of 2021, turning the sector into the fourth busiest in terms of deal count.

MAGNiTT further declared that the sector attracted almost 10 times more capital in the region at USD1.1 billion in comparison with 2020 as the number of deals rose by 1,729 percent annual in the first half of the year.

The three rounds of Turkey-based Getir of fundraising amounted at 91 percent of venture funding in the sector as it accomplished unicorn status with an assessment of at least USD1 billion.

UAE-based Lyve Global stood at 86 percent of the amount of funding in UAE-based delivery and logistics startups, and 45 percent of the sector’s funding in the MENA region in the January-June period of 2021.

MENAFN29082021000045011369ID1102698258

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.