Saudi Arabia raised a total of $114 million in startup funding in just six deals (Shutterstock)
RIYADH, Broadcasting News Corporation : 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. NEWS COLLECTED FROM ARAB NEWS.
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