Mena region start-ups raised $105m in July – The National

Mena region start-ups raised $105m in July – The National

Start-ups in the Mena region raised $105 million from 44 deals in July, the lowest amount of monthly funding so far this year as global macroeconomic trends dampened investor sentiment, according to venture capital platform Wamda.

The investment value of the deals represents an annual drop of 84 per cent and a monthly decline of 68 per cent, Wamda said in a statement on Thursday.

In terms of volume, the number of deals that Mena start-ups sealed in July almost halved annually and fell by about a third from June, the data showed.