RIYADH: Startups in the Middle East and North Africa region raised $173 million across 51 deals in September, marking a 54 percent decrease compared to the month before.
Saudi Arabia’s logistics startup TruKKer was responsible for the bulk of that funding as it secured a $100 million pre-initial public offering round, according to Wamda.
The Kingdom raised a total of $114 million in startup funding in just six deals, while the UAE had 12 deals with a total of $27 million.
Aside from Trukker’s fundraise, fintech companies managed to get the highest amount of funding with $28 million followed by food tech startups with $22 million.
Foreign investment was high in September as US investors participated in 11 deals while UK investors were the second active with seven deals.
