Egypt's NBE, Banque Misr collect EGP 705 bln from high-yielding CDs issued on March 21    Gold prices in Egypt on May 24    Saudi Arabia's Mouwasat signs MoU to acquire Egypt's Al-Marasem International Hospital    Egypt to inaugurate new Sphinx International Airport in mid-July    Turkey's finance minister to visit Egypt for first time in 9 years    Finland and Sweden formally apply to join NATO alliance    Saudi Arabia prolongs Yemen central bank's deposit    Egypt Knauf launches its first training centre in Egypt    Egypt uncovers official logo for COP27    Noura Al-Mutair – first Gulf female boxer in World Championships    Egypt unveils 50 pound coin minted to mark Avenue of Sphinxes grand reopening    Liverpool fans: "You'll Never Walk Alone" to Cristiano Ronaldo    Hot, rainy weather hits Egypt this week    COVID-19 in Egypt: infections fall to 124 cases last week    Egypt to play key role in integrating water, climate issues globally – World Bank official    Egypt's telecoms regulator announces working hours for holy month of Ramadan    Maha karara joins AAIB as Head of Corporate Communications, Sustainability    Egypt works on charting cooperation strategies with international institutions for 5 years: Al-Mashat    Over 2.4 million newborns examined for hearing impairment: Health Ministry    Netflix releases trailer of Arab adaption of 'Perfect Strangers' film    Balqees to headline concert celebrating launch of streaming giant LIVENow in MENA    Sawsan Badr to be honoured at Aswan Women Film Festival    MP Abdel Hady Al-Qasby calls government to facilitate and support NGOs    Al-Sisi follows up on 'Great Transfiguration Project' in St. Catherine    Cairo, London stress need to strengthen cooperation to face climate change    Foreigners account for 22.6% of Egypt's T-bills issuances in 1H 2021: CBE    Egypt's ambassador to Italy passes away    Egypt confirms readiness to help African countries face terrorism and extremism    An estimated 235 million people needed humanitarian assistance and protection in 2021, an increase of 40% compared to 2020: IOM Egypt    Egypt, DRC discuss water cooperation during WYF    Egypt, DR Congo discuss boosting bilateral cooperation during WYF    Cameroonian police probe assault on three Algerian journalists covering AFCON    Pharaohs start AFCON 2021 campaign with fierce clash against Nigeria    Foreign Ministry opens capacity building course for French-speaking African diplomats    Egypt's trade with Nile basin countries climbs 26% y-o-y in 9 months    Ethiopia halts work at its embassy in Egypt for 'economic reasons'    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







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



MENA startup investment approaches $2bn: MAGNiTT
Investment in the MENA region is approaching the $2bn mark with nearly $150m raised in October.
Published in Daily News Egypt on 14 - 11 - 2021

According to MAGNiTT's October 2021 Investment Information Report covering venture capital activity in the MENAP region, you notice a very significant closing of a massive year.
Investment in the MENA region is approaching the $2bn mark with nearly $150m raised in October.
Significantly, it appears that fourth-quarter funding is just getting started in this ecosystem as startups like Egypt-based Rabbit, UAE-based Immensa, Bahrain-based coinMENA, and Jordan-based EonDental have closed multi-million dollar rounds, resulting to increase the deployment of capital in the Middle East and North Africa region by more than $50 m this week alone.
The fourth quarter appears to be starting steadily for Turkey and Pakistan as well. In the first month of the fourth quarter, Pakistan continued to witness unprecedented international investor engagement with global investors such as US-based +92 Ventures, Germany-based Global Founders Capital, and UK-based Zayn Capital in the closing rounds in October.
On the other hand, Turkey was the only geographical region among the three countries that recorded a monthly growth in published capital (33%).
The magnitt report said: "We stand at a pivotal moment before witnessing how the final two months of the year turn out. As we record shifts in the venture capital spaces across the MENAPT region, we explore three major milestones in October."
Healthcare, Transport and Logistics among the top 5 industries in the MENA region experienced year-over-year growth in the number of deals during October 2021, growing by 50% and 300% compared to October 2020 respectively.
Overall, compared to September, deal volume in the MENA region grew by around 10% compared to the previous month.
While usually suspect industries like FinTech, with innovations like BitOasis and Sarwa, and e-commerce with tours from Chari.ma and Seez, paying the lion's share of the investment, it was a $64.5m deal by Red Sea Farms that put the agricultural industry in 1st place during the month.
More interestingly, October welcomed a new investor supporting the largest number of deals across the MENA region, Orange Corners, an initiative from the Kingdom of the Netherlands aimed at stimulating entrepreneurship among African and Middle Eastern youth, culminating in 7 investments in early stages of supporting startups in various industries in Sudan.


Clic here to read the story from its source.