MENA startup funding soars 206pc to $355m in July

CAIRO, Aug 13 (Arab News): Venture capital investments in the Middle East and North Africa reached $355 million in July, marking a 206 per cent increase from June and a 260 per cent rise year on year, according to recent data.

This growth highlights the region's resilience in the face of global economic challenges and rising geopolitical tensions, including potential conflicts involving Israel and Iran.

Despite the broader uncertainties, the number of deals held steady at 38, indicating a stable investment environment, Wamda's monthly report showed.