35 deals in May raised $110 million in May for MENA startups, while it is less than the money raised in the previous month, this year as a whole has proved to be successful in raising at least $100 million a month, Saudi Arabia has been the focus of this investment as Jada and SVC, the two funds have resulted in producing more venture to capital (VC) firms in the country that are now obligated to invest some of these funds into Saudi Arabia-based startups. As a result, Saudi startups can now command higher valuations and thus larger ticket sizes.
While the massive funds raised are a sign of successful investing strategies and thriving opportunities for Mena startups,
Unfortunately, out of the 110 million raised in May only $6 million were allocated to only one woman-based startup out of all. Gender inequality and backwardness still holds back Mena countries to let women thrive equally in the field of digital marketing and technology.
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