Riyadh - Sharikat Mubasher: The startup ecosystem in the Middle East and North Africa (MENA) region is flourishing as startups collected $736.7 million during the first half (H1) of 2024 across 248 deals, according to recent figures.

A report released by the Digital Digest showed that the UAE retained its spot as the top-funded ecosystem in the region, seizing 45.3% of the total investments, followed by Saudi Arabia and Egypt which obtained 38.1% and 11.6% of total investments in H1-24, respectively.

Of the 248 deals, only 18 deals were valued between $10 and $50 million, with one exceeding $50 million, namely Salla’s $130 million pre-IPO investment round.

UAE startups attracted 37.9% of the deals in H1-24, followed by Saudi Arabia (31.9%), Egypt (12.5%), and Morocco (9.7%).

It is worth noting that MENA startups collected investments estimated at $94 million in June through 26 deals, led by a $30 million series A round by Tenderd.