2024 MENA Tech Investment Trends: Capital Cools, But Innovation Widens

🧭 2024 MENA Tech Investment Trends: Capital Cools, But Innovation Widens

Despite a drop in total funding, MENA’s tech ecosystem expanded its foundation in 2024—with more deals and deeper investor interest in early-stage ventures.

🔍 Key Highlights from the Report:

• 💸 $2.78B raised across 602 deals, down from $4B in 2023—but deal count increased from 583 → 602.

• 🏆 Top 3 countries:

  • 🇦🇪 UAE: $1.53B across 253 rounds

  • 🇸🇦 Saudi Arabia: $763M across 171 rounds

  • 🇪🇬 Egypt: $385M across 115 rounds

• 📊 Top sectors by capital raised:

  • Fintech: $937M

  • SaaS: $200M

  • AI: $184M
    ➤ These three alone attracted 50% of all capital.

• 🌱 Early-stage surge: Seed & Series A rounds made up 38% of all funding.

• 📐 Median round size was just $2M, highlighting the influence of a few mega-deals—like Pathfinder’s $328M round, the year’s biggest.

🚀 Investor Trends:

• 499 institutional investors were active in 2024.

• Oraseya Capital (Dubai) and Flat6Labs (Egypt) were among the most active VCs.

• Strong movement in Generative AI, PropTech, Climate Tech, and Sustainability.

🔎 Country-specific insight:

• Egypt: Despite macro pressures, Egypt maintained its position as a leading innovation hub with solid early-stage activity and two of the top 20 most-funded startups in the region.

📥 Access full insights, sector deep-dives, and funding maps for every country in the report:
👉 Read the full report