MENA Startup Funding Drops 46% to $882 Million in First Half of 2024 Due to Political Uncertainties

Funding for startups in the Middle East and North Africa (MENA) region plummeted by 46% year-on-year to $882 million in the first half of 2024 due to political uncertainties, according to a report. Another source noted a 34% drop in funding, with startups raising $768 million over the same period. The decline is largely attributed to the lack of megarounds, or funding worth more than $100 million, new data showed on Tuesday. Despite the overall decrease, there has been an increase in early-stage rounds and investor participation. Notably, more than a fifth of startup funding rounds were down rounds.