US State Secretary, Egypt FM discuss bloodshed in Gaza, stress strategic partnership    Egypt's Al-Sisi in Paris for Sudan Transition Conference    Sundance Institute names 20 fellows across upcoming summer labs    Grand Egyptian Museum opening to be as impressive as Royal Mummies Parade: El-Anani    Egypt to soon complete COVID-19 vaccination of tourism workers in Red Sea, South Sinai    EGP 308.3bn allocated to Egypt economic authorities to support services, development projects    Chief of Egypt's Financial Regulator elected as committee head at IOSCO    Washington calls for resumption of GERD talks    Egypt, Saudi Arabia aim to restore calm in Palestinian territories    Comedy actress Nadia Al-Iraqia passes away from COVID-19    Egypt's Health Ministry launches awareness campaigns against COVID-19    Sudan pledges to investigate killing of 2 protestors during peaceful sit-in    Egypt scales up readiness of hospitals nationwide for Eid Al-Fitr holidays    Egyptian hospitals in Sinai on alert amid Israeli aggression on Gaza    Egypt announces Thursday 1st day of Eid Al-Fitr    Nuweiba: Egypt's paradise of serenity    Egypt's trade deficit down 1.2% to $3.34bn in February 2021: CAPMAS    Global economic recovery to improve debt service coverage ratios: Moody's    Egypt's current account deficit jumps to $7.6 bln in 1H of FY2020/21: CBE    India signs an agreement to buy 300,000 doses of Remdesivir from Eva Pharma    Egypt will locally manufacture first 2m Sinovac vaccine doses by June-end    Turkey seeks to restore 'historic unity' with Egyptian people: Erdogan    Elneny's Arsenal targets 'remontada' in Europa League semi-finals    Zamalek eye return to victories at expense of Smouha in Egyptian Premier League    Al Ahly face injuries as they take on Al Ittihad Alexandria    Egypt buys 30 Rafale fighter jets from France    Direct flights between Russia and Egypt will resume in June, Ambassador    Egypt's Ahly is establishing a new stadium, expected to be 'sports complex'    Blinken presses Ethiopia's Abiy to ensure full withdrawal of Eritrean troops from Tigray    Forces opposed to Somali president control parts of Mogadishu    Nine people executed in Egypt over Kerdasa police killings in 2013    UEFA investigating Ibrahimovic's alleged ties to betting company    61 doctors died from coronavirus since start of April: Egypt's medical syndicate    Egypt targets 5.6% inflation rate in FY2020/21, 6% in FY2021/22    Egypt allocates EGP 132 bln to modernise railway system: Transport minister    Real Madrid not thinking about any Super League sanctions: Zidane    Total declares force majeure on Mozambique LNG after attacks    All the winners at the 93rd Academy Awards    Egypt's Ahly granted approval to build new stadium on Cairo outskirts    Aswan Int'l Women's Film Festival dedicates 5th edition to Kawthar Heikal    BREAKING: Egypt's information minister Osama Heikal resigns amid parliamentary criticism    'War was not Egypt's aim, but peace was the ultimate goal,' Sisi says on Sinai Liberation Day anniversary    Factbox: Key nominations for the 2021 Academy Awards    Old Cairo's Al-Fustat will be revamped on Egyptian President's directives    Veteran Egyptian journalist Makram Mohamed Ahmed passes away at 86    Allianz Egypt partners with IGNITE to equip brand ambassadors for 2021 Olympics    Hassan Allam consortium wins contract to manage, operate Grand Egyptian Museum    Seasoned Egyptian screenwriter Wahid Hamed dies at 76    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Egypt placed fourth as MENA's start-ups raise $160 mln in Febraury: Report
Published in Ahram Online on 10 - 03 - 2021

Start-ups in the Middle East and North Africa (MENA) region have raised $160 million in February across 43 deals, driven largely by debt financing, Wamda, a start-ups accelerator, said in a recent report.
Egypt placed fourth among the region's countries, with total deals worth $11 million, following the UAE, Saudi Arabia, and Bahrain.
UAE-based start-ups Yellow Door Energy and Starzplay together raised $56.2 million in debt to fuel expansion plans. Without these two deals, the total raised in February was $104 million, a substantial jump from the $43 million raised in January across 37 deals, according to the report.
Saudi Arabia's FOODICS raised the most with $20 million in its Series B round, helping to boost the the foodtech sector's investments alongside UAE-based cloud kitchens operator Kitch, which raised $15 million, according to the report.
"Overall, foodtech is attracting growing interest as the region's food delivery habits continue to rise while restaurants are now settling back into a more stable environment", said the report.
The report showed that the UAE has seen the highest number of investments with 16 deals amounting to $88.8 million, not counting Yellow Door Energy and Starzplay's debt round.
UAE start-ups raised $32.6 million, almost $4 million less than the $36.5 million raised in Saudi Arabia across nine deals.
Bahrain's Tarabut Gateway, which raised $13 million, helped to push the country's ranking to third, alongside graduates from the Startupbootcamp and Flat6Lab's latest cohort.
The report also said that the seed rounds continue to dominate the scene in the region, reflecting the rise in new start-ups that have emerged in 2020 amid the COVID-19 pandemic crisis.


Clic here to read the story from its source.