630 “bold investment” deals in the region worth $3.43 billion in 2022

The investments of venture capital cities around the world recorded a significant slowdown during 2022 compared to the previous year, but in the Arab region they recorded growth, although growth rates were lower than in the previous year.

It seems that the state of almost complete investment stagnation of venture capital in “Silicon Valley” has not yet cast a shadow on investor appetite in Middle East, which continue to witness a certain boldness, so to speak, but with caution.

Read more: “Bank of America” for Arabic: the future vision of the markets is “nebulous” .. and these are our expectations!

According to the latest report from the “Digital Briefing” platform, the Middle East and North Africa recorded investments of $3.43 billion in 2022 through 630 deals, compared to $3.15 billion in 2021 through 669 deals.

Around 47% of these investments came to the UAE, followed by Saudi Arabia, where startups got 26% of the funding and Egypt got 15% of the funding.

The greatest round of funding in the UAE were for Yellow Door Energy for renewable energy with $400 million, while the largest round of financing in Saudi Arabia have been to Foodics, which has been awarded a round funding of approximately $170 million.

In Egypt, the largest round Paymob’s funding raised approximately $50 million.

In Algeria, startups began to attract the attention of investors and attracted more than 4% of investments, led by “Yasser” and he super App Provides ride-hailing, delivery and payment services, in when the company obtained a financing of 150 million dollars.

Startups in the region have also started getting bank loans despite the high-risk element in such companies and banks dedicated to such loans have begun to appear, and startups in the region have raised more than $400 million in bank loans in 2022.

Read More About: World News

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