Mena start-ups increase 63 percent in funding venture capita...| MENAFN.COM

Monday, 08 August 2022 09:52 GMT

Mena start-ups increase 63 percent in funding venture capital last month


(MENAFN) In line with information from venture capital platform Wamda projects in the Middle East and North Africa (Mena) district increased USD176 million last month from 42 transactions.

The sum surged is 40 percent lower monthly in investment value, but around 63 percent more yearly, Wamda stated in an announcement on Thursday.

Start-ups in the Mena district increased USD299M and USD297M in March and April in 2022, individually. Regardless of a drop in funding worth, May’s deal count witnessed a 31 percent raise against the month before.

Egypt, Saudi Arabia in addition to the UAE sustained to lead venture capital (VC) inflow in Mena.

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