Comments (0) Business, Featured LikeBy AfricaMe-TeamInnovation and flexibility allowed North African and Middle Eastern startups to raise over $1 billion in 2020Despite the ongoing Covid-19 pandemic, investors continued to believe in the potential of North African and Middle Eastern tech start-ups. Despite losing 19% of the number of deals, total funding for this industry shot up to $162 million. Despite losing 19% of the number of deals, total funding for this industry shot up to $162 million. Egypt and the Kingdom of Saudi Arabia follow with 17% and 15% of the total funding, respectively. Pre-seed and early stage venture funding decreased in 2020, while Seed funding and Series A investments exploded, potentially reaching up to $3 million of funding.

Source: The North Africa Journal March 20, 2021 12:45 UTC