{"id":96624,"date":"2024-10-09T00:00:00","date_gmt":"2024-10-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/the-uae-saw-134-funding-rounds-in-9m-2024-the-most-in-the-mena-region\/"},"modified":"2024-10-09T00:00:00","modified_gmt":"2024-10-09T00:00:00","slug":"the-uae-saw-134-funding-rounds-in-9m-2024-the-most-in-the-mena-region","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/10\/09\/the-uae-saw-134-funding-rounds-in-9m-2024-the-most-in-the-mena-region\/","title":{"rendered":"The UAE saw 134 funding rounds in 9M 2024, the most in the Mena region"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>UAE startups led the region in secured funding rounds<\/strong><strong> with a <\/strong><strong>total of 134 in the <\/strong><strong>first nine months of 2024,<\/strong> according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/595.pdf\" style=\"\" rel=\"noopener\">Magnitt's venture investment summary report (pdf)<\/a>. This accounted for 38% of all funding rounds in the Mena region, and marked a 12% y-o-y increase. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE came in second in the Mena region and fourth across emerging markets in terms of value of funding<\/strong>, with USD 380 mn in funding during the period, down 18% y-o-y. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE-based venture capital firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/plus.vc\/\" style=\"\" rel=\"noopener\">PlusVC<\/a><\/strong> <strong> emerged as the region\u2019s fourth largest investor<\/strong> in terms of the number of startups it provided funding for.<\/p>\n<p class=\"tag-border-left\">THE REGIONAL PICTURE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mena's venture capital market raised USD 1.32 bn,<\/strong> reflecting a 13% decline from the previous year. Despite this downturn, non-megadeal funding increased by 30% y-o-y, indicating sustained support for early-stage ventures. The region recorded a total of 352 investments, marking a slight 6% drop year-over-year, which outperformed other emerging markets like Africa and Southeast Asia, which saw declines of 42% and 28%, respectively. Emerging venture markets \u2014 including ones outside the region \u2014 witnessed a 45% y-o-y dip in funding, raising USD 4.9 bn in the first nine months of 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The number of investors in Mena rose by 34% to 386<\/strong>, with international investors leading the charge, accounting for 51% of all investors in the region for the first time in over five years. Exits declined by 50% with 17 recorded exits across the region. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fintech remained dominant, securing approximately USD 480 mn in investments <\/strong>and capturing 37% of total funding in Mena. E-commerce and retail experienced declines in funding, while there was renewed interest in enterprise software as well as transport and logistics.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Could 2024 end on a high note? <\/strong>\u201cWith global trends pointing towards lower interest rates and an uptick in investment activity, Q4 2024 will be a crucial period. All eyes are on whether we can exceed last year\u2019s performance,\u201d said Magnitt CEO Philip Bahoshy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EVMs\u2019 total funding fell by 45%<\/p>\n","protected":false},"author":1,"featured_media":96625,"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-96624","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":"96f19e72-9d77-4c3e-b1ae-953be5a06ffa","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/2182.jpg","photo_position":"above","homepage_title":"","full_issue_title":"The UAE saw 134 funding rounds in 9M 2024, the most in the Mena region","related_issue":[96610],"teaser":"EVMs\u2019 total funding fell by 45%","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.6d1e79e4-6196-4802-87ff-c2e25f772de1.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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