VP of Sales | Delivering live, detailed operational data at scale | MBA | Angle Investor
In May 2024, startups in the Middle East region raised an impressive USD 282 million, marking a dramatic 413% increase from April’s USD 55 million. This surge was largely driven by debt financing, which accounted for nearly USD 140 million of the total raised, showcasing a growing trend toward leveraging debt as a funding mechanism. The UAE led the way, attracting the most investments with USD 189 million across 23 transactions. Saudi Arabian startups followed, securing USD 56 million from 10 deals. In comparison, Egyptian startups raised USD 24.5 million from four deals, including a USD 16 million Series A round for OneOrder, combining debt and equity funding. This represents a significant increase from the USD 8.7 million raised by Egyptian startups in April 2024.
