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Tech startups in MENA raised $258 million throughout 46 offers in November, marking a 92% month-to-month improve.
In response to a brand new report from Wamda and Digital Digest, the UAE was the top-funded MENA ecosystem in November, with $146m throughout 11 offers.
Saudi Arabia adopted with 23 startups elevating $94 million. Egypt ranked third in MENA funding as eight startups raised practically $16 million, a good rise from $1.6 million final month.
E-commerce takes the lead
As for varied sector performances, e-commerce led with $104 million from seven startups. Fintech got here second with $80 million throughout 4 startups. SaaS suppliers emerged with $21 million throughout seven funding rounds.
In November, Collection A startups attracted $23 million via two offers, whereas pre-seed startups led by deal rely raised $5 million throughout 16 transactions.
B2B startups have been the highest funding recipients with 48% of investments, whereas B2C startups secured solely $11.5 million.
Male-led startups obtained 90% of the funding, female-led startups obtained $583,000, whereas mixed-gender co-founded startups secured $22.5 million.