{"id":96538,"date":"2024-10-07T00:00:00","date_gmt":"2024-10-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/28-emirati-startups-bagged-usd-114-3-mn-in-funding-in-september\/"},"modified":"2024-10-07T00:00:00","modified_gmt":"2024-10-07T00:00:00","slug":"28-emirati-startups-bagged-usd-114-3-mn-in-funding-in-september","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/10\/07\/28-emirati-startups-bagged-usd-114-3-mn-in-funding-in-september\/","title":{"rendered":"28 Emirati startups bagged USD 114.3 mn in funding in September"},"content":{"rendered":"

Emirati startups were the second most funded across th<\/strong>e MENA region in <\/strong>September<\/strong>, with 28 startups raising USD 114.3 mn, according to Rasmal\u2019s latest Mena Startup Funding Report<\/a>. This is a 48% m-o-m increase from August\u2019s USD 76.9 mn. KSA came in first position with USD 165.3 mn raised across 13 startups, with Egypt in third place at USD 25 mn across eight startups.<\/p>\n

Dubai led the pack with the most investments in startups in a city<\/strong>, with 25 startups raising a combined USD 107.3 mn. The emirate is a \u201cmagnet\u201d for founders on the back of the government\u2019s initiatives, global investor access, and the emirate\u2019s \u201crobust innovation ecosystem,\u201d the report said. Meanwhile, Abu Dhabi startups were the fifth most funded, with three startups securing USD 23 mn during the month.<\/p>\n

REGIONAL SNAPSHOT- <\/p>\n

Some 60 MENA startups raised a combined USD 328.3 mn in September<\/strong>, down from USD 566 mn in August. In 3Q 2024, 143 startups raised USD 1.1 bn. <\/p>\n

Late-stage startups were the most popular in September: <\/strong>The lion\u2019s share of investments in September \u2014 amounting to USD 129.1 mn \u2014 was in the form of VC funding to growth-stage startups. Meanwhile, seed-stage funding declined 17% m-o-m to USD 57.3 mn, and Series A saw c. 3x surge to USD 54.7 mn.<\/p>\n

The three most attractive sectors: <\/strong>Fintech startups secured USD 134.8 mn in September, up from USD 47.2 mn in August. This was followed by the logistics sector at USD 83 mn, and the software development sector with USD 52.6 mn.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dubai was the top funding recipient last month<\/p>\n","protected":false},"author":1,"featured_media":96539,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1548],"tags":[7,1342,78,147,274],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-96538","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-enterpriseam-uae","tag-investment","tag-startup-watch","tag-startups","tag-venture-capital","wpautop","entry"],"acf":{"mongo_id":"7f18709a-cdbd-4a0e-af31-2cfbfe023f12","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/1424.jpg","photo_position":"above","homepage_title":"","full_issue_title":"28 Emirati startups bagged USD 114.3 mn in funding in September","related_issue":[96526],"teaser":"Dubai was the top funding recipient last month","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.36cf735f-fd6f-479f-bef7-b6955475dc2d.mp3"},"yoast_head":"\n28 Emirati startups bagged USD 114.3 mn in funding in September - 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