MENA STARTUPS RAISED $160 MILLION IN FEBRUARY

Start-ups in the Middle East and North Africa region raised $160 million in February this year through 43 business transactions, largely driven by debt financing. The UAE-based company Yellow Door Energy and Starzplay together raised $56.2 million in debt to support expansion plans. Without these two deals, the total amount obtained in February was $104 million, a large jump from the $43 million raised during January this year across 37 transactions.

In addition to the debt financing rounds, Saudi FOODICS successfully raised more than $20 million in its second round, which helped boosting investments in the food technology sector along with virtual kitchen operator Kitch - based in the United Arab Emirates, which raised $15 million.

In general, food industry technology is increasingly attracting attention, as food delivery habits in the region continue to rise, while restaurants now operate in a more stable environment.

Overall, The UAE had the biggest investment numbers with 16 deal amounting to $88.8 million. However, after excluding the debt round of Yellow Door Energy and Starzplay, UAE start-ups raised $32.6 million, about $4 million less than the $36.5 million raised in Saudi Arabia through nine deals, while helping the Tal Gate.

At the same time, the Tarabut gateway in Bahrain, which raised $13 million, helped push the country's ranking to third place, in parallel with the graduates of Startupbootcamp, the last group of Flat6Lab.

Finally, it is clear that we have seen more pre-Series A and Series A rounds than before, and one Round B, while the seeds Rounds have continued to dominate, reflecting the rise in new start-ups that have emerged over the past year.

News Source: Here