In May 2024, a total of 40 startups in the MENA region raised $282 million, a remarkable 413% increase from April’s $55 million. The growth was largely driven by debt financing, which contributed nearly $140 million. UAE-based startups led the way, securing $189 million across 23 transactions, followed by Saudi startups with $56 million and Egyptian startups with $24.5 million. The Web3 sector saw two investments totaling $1 million, while the proptech sector was the top-funded with $167.2 million.
