What's Hot

    Tech African Women startup accelerator launches in Ethiopia

    August 17, 2022

    Appetito and Purity sign MoU

    August 16, 2022

    Afriguild strikes investment deal with Adaverse  

    August 15, 2022
    Gulf Africa ReviewGulf Africa Review
    • Industry
    • Infrastructure
      1. Airport
      2. Hospitality
      3. Ports
      4. Power
      5. Rail
      6. Roads
      7. Transport
      Featured

      Osun seeks to capitalise on infrastructure momentum

      Infrastructure May 21, 2018
      Recent

      Rotana enters Algerian market with new Oran resort

      August 11, 2022

      AD Ports Group and Hutchison Ports Sign MoU on Tanzanian projects

      August 3, 2022

      Mulk International to develop USD 500 million high-tech park in Zimbabwe

      July 22, 2022
    • Business & Trade
      1. Agri-Business
      2. Entrepreneurship
      3. FDI
      4. Legislative
      5. MEA
      6. Telecoms
      7. Properties
      Featured

      Analysts predict bullish future for Nigeria’s REITs market

      Business Business & Trade January 21, 2018
      Recent

      Abu Dhabi’s non-oil foreign trade climbs to USD 33 billion in H1 2022

      August 15, 2022

      AD Ports Group and Hutchison Ports Sign MoU on Tanzanian projects

      August 3, 2022

      Kenya and UAE begin talks on Comprehensive Economic Partnership Agreement

      July 29, 2022
    • Finance
      1. Banking
      2. Islamic finance
      Featured

      MENA startups raise USD105 million in July, the lowest amount in 2022

      Business FDI Finance Innovation August 8, 2022
      Recent

      MENA startups raise USD105 million in July, the lowest amount in 2022

      August 8, 2022

      IsDB: Islamic Development Bank Group announces USD 10.54 billion package to address food security

      August 1, 2022

      The United Bank for Africa Group expands to EMEA

      July 25, 2022
    • Innovation
    Gulf Africa ReviewGulf Africa Review
    FDI

    MENA startups raised USD 297 million in April

    May 13, 20223 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    MENA Startups
    Egypt ranked third in terms of the total value of startup investments in April.
    Share
    Facebook Twitter LinkedIn Pinterest Email

    MENA startups raised USD 297 million in April, according to a report by WAMDA, a startup accelerator and investment vehicle.

    Startups from across the MENA region raised USD 297 million through 29 deals in April of this year. This represents a month-on-month decrease of USD 2 million, but a year-on-year increase of 60 percent. To date, 2022 has seen over USD 1 billion of investment in MENA startups.

    MENA startup environments: The big three

    Following on from recent trends, Egypt, the UAE and Saudi Arabia continue to lead the way. Saudi Arabian businesses raised USD 195 million in April. Highlights included Foodics’ raising of USD 170 million.

    The UAE came second behind Saudi Arabia, raising USD 61.5 million USD in April, the largest deal was Millennial Brand’s USD 35 million growth round. The UAE saw the largest number of deals over the last month.

    Egyptian startups raised USD 35 million, down 57 percent from the previous month. Infrastructure systems startup Pylon held the most successful fundraiser, gaining USD 19 million through a seed round.

    The top three were followed by Jordan (USD 1.4 million), Oman (USD 1.0 million) and Morocco (USD 584,000). Morocco saw two deals, Oman and Jordan claimed one each.

    Investors from Saudi Arabia were the region’s most active, participating in 13 deals, followed by investors in the UAE who took part in 10 deals. Of the 29 deals last month, 14 attracted overseas funding, with US investors taking part in 10 deals. Egypt-based startups had the highest concentration of overseas investors.

    The majority of investments were made at the pre-seed and seed stage.

    Smaller deals dominate

    The total number of deals across the MENA region fell from 79 investment rounds made in March, to 29 in April. While large deals contributed to the overall figures, smaller deals and seed stage funding rounds accounted for the largest number of deals and 18.5 percent of the total funding.

    SaaS and e-commerce continue to lead

    SaaS and e-commerce startups accounted for 85 percent of the total funding raised in April.

    Fintech was the leading segment, raising USD 9.8 million over four deals.

    B2B startups raised over USD 223 million across 13 deals, with B2C startups raising USD 70 million across 14 deals.

    MENA startups: Male dominated

    Male-led startups continued to receive the majority of the investments, at USD 259 million over 25 deals. Companies with male and female co-founders raised USD 3 million in two deals. Female-led startups saw a significant improvement in their performance, thanks largely to the investment in Millennial Brands and the segment accounted for 12 percent of all investments last month.

    The report follows news of a successful Q1 for the MENA startup region, where African startups raised over USD 1 billion.

    Egypt investment Jordan MENA morocco Oman saudi arabia Startups UAE
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleRenewable energy: Egypt continues drive with green ammonia deal
    Next Article Fintech dominates global and regional VC investment surge

    Related Posts

    Business Innovation

    Tech African Women startup accelerator launches in Ethiopia

    August 17, 2022
    Business FDI Innovation

    Appetito and Purity sign MoU

    August 16, 2022
    Business Culture & Society Education

    Afriguild strikes investment deal with Adaverse  

    August 15, 2022
    View 4 Comments

    4 Comments

    1. Pingback: Fintech dominates global and regional VC investment surge

    2. Pingback: Sylndr raises USD 12 million to scale used car marketplace

    3. Pingback: DXwand secures USD 1 million to expand across MENA region

    4. Pingback: MENA startups raise USD 176 million in May

    Leave A Reply Cancel Reply

    LATEST STORIES

    Tech African Women startup accelerator launches in Ethiopia

    August 17, 2022

    Appetito and Purity sign MoU

    August 16, 2022

    Afriguild strikes investment deal with Adaverse  

    August 15, 2022

    Abu Dhabi’s non-oil foreign trade climbs to USD 33 billion in H1 2022

    August 15, 2022

    Convertedin raises USD 3 million in Seed round

    August 12, 2022
    • Business
      • Agri-Business
      • Entrepreneurship
      • FDI
      • Legislative
      • MEA
      • Properties
      • Telecoms
    • Infrastructure
      • Airport
      • Hospitality
      • Ports
      • Power
      • Rail
      • Roads
      • Transport
    • Finance
      • Banking
      • Islamic finance
    • Commodities
      • Agri commodities
      • Metals & minerals
      • Precious metals
    • Culture & Society
      • Education
      • Energy
    GAR logo
    © GulfAfricaReview.com 2014-2022, All Rights Reserved.

    Gulf Africa Review is a trade news and future networking platform for businesses leaders and trade organisations, established to first inform and secondly assist in facilitating the ongoing business and trade relations between the Gulf Cooperation Council countries and Sub-Saharan Africa. We aim to provide an apolitical voice for this channel of economic activity in a way that benefits both geographies by improving the availability of information about market events, developments and opportunities, while publicising the successes achieved by this ever-broadening regional relationship.

      Subscribe to our newsletter

      Type above and press Enter to search. Press Esc to cancel.