Add to this the inherent advantages e-commerce offers businesses in terms of market penetration, and it’s clear that growth in the sector will only accelerate.”. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The three main innovation hubs — the UAE, Egypt and Saudi Arabia — accounted for 68 per cent of total deals disclosed in 2020 and once again, the UAE ranked first and accounted for the lion’s share of total funding and the highest number of deals in Mena, representing 56 per cent of all capital deployed across Mena (26 per cent), with 129 deals and $579 million in funding in 2020. All Rights Reserved. Email us at editorial.zawya@refinitiv.com, or send us your company press releases to pressrelease.zawya@refinitiv.com. Ally Salama, CEO, EMPWR, said: “Traction and startup business in mental health means less stigma, and more marketing, education and awareness. The startup community is certainly witnessing a spurt in mental health services and is gaining traction among businesses. Not only has a much larger subset of customers become used to the convenience of e-commerce, the services on offers have also been enhanced. Similarly, the amount invested in healthcare startups more than tripled, increasing by +280 per cent to $72 million. 9. Cocoon Venture, a Dubai based Venture Capital firm, primarily focuses on making investments in early-stage Information Technology and Internet of Things (IoT) software companies that thrives on the passion and success. The Mohammed Bin Rashid Fund (MBRF), which is the financial arm of Dubai SME, and … From the very beginning, it is the strategic use of funds that decides the amount of profits your venture makes in the long run. In Dubai specifically, the emirate’s commitment to award 20% of all Expo 2020-related contracts to SMEs has further incentivised the development and growth of small business. CurrentRequestUnmodified: /business/indian-textile-major-raymond-sizes-up-fashion-industry Examples of crowdfunding platforms in the UAE are Beehive, Humming Crowd Realty, Eureeca. UAE-based Fenix, a new micromobility venture focused on the Middle East, has secured a $3.8 million seed … This makes funding or initial investment the most important part of a startup cycle. “Covid-19 rapidly accelerated the adoption of technology across emerging markets, creating larger markets and more opportunities to scale. Tap Payments is hoping for a similar trajectory in MENA. The Magnitt report ‘2021 Emerging Venture Markets Report’, released on Tuesday ranked Egypt second for both total funding with $179 million (up +31 per cent ) and number of deals (down -10 per cent) and fast-growing Saudi at third place for total funding with $152 million (up +55 per cent), with the number of deals seeing the highest increase in Mena, up by 35 per cent, which is made more remarkable when compared with the slow-down in the rest of Mena. READ MORE, UAE fights Covid: Dubai suspends entertainment on board vessels, floating restaurants, Dubai fights Covid: Eateries get new social distancing rules, Coronavirus: UAE reports 3,552 Covid-19 cases, 3,945 recoveries, 10 deaths, Dubai fights Covid: New gym rules announced, Covid-19: Emirates suspends flights to Copenhagen, UAE expats harassed in viral video, 4 men arrested, Rise in Covid-19 cases: UAE police, doctors issue advisory for residents, Myth busted: Covid-19 vaccine won’t affect men’s fertility, Dubai parties, weddings: Maximum number of guests reduced, UAE-US flights: Mandatory Covid test for all travellers, aged 2 and above, Russia’s Sputnik V vaccine in UAE: All you need to know. VC funds typically providing funding in return for minor equity stakes in start-ups or young SMEs (often technology companies) that are not traded publicly. Provided by SyndiGate Media Inc. (Syndigate.info). Team. Saudi Arabia, France seek to boost collaboration in technology sector, Egypt’s computer sales rise to 500k devices in 2020, Trump seeks to curb foreign cyber meddling on last day in office, UAE jobs: Cybersecurity experts in demand, Saudi Aramco, stc unveil powerful supercomputer, Dnata opens state-of-the-art cargo complex at Manchester Airport, UAE's Mubadala Petroleum signs deal to explore oil, gas in Red Sea, Abu Dhabi Fund for Development completes $31.94mln energy projects in partner countries, Flydubai to start double daily flights to Qatar, CEO of Saudi's Basic Chemical Industries resigns, GM warns Maharashtra's move to block its exit could hit investment, Indian farmers to step up protests after rejecting offer to defer controversial new laws, Google seals content payment deal with French news publishers, Dow, S&P close lower as IBM, Intel weigh, coronavirus concerns rise, Canada deporting thousands even as pandemic rages. Read More . BRINGING CAPITAL AND EXPERTISE TO ENTREPRENEURS. Abdul Basset Al Janahi, Saeed Matar Al Marri, Craig Moore and other executives after signing a deal between Mohammed Bin Rashid Fund and Beehive Group Finance Platform. The UAE has long been synonymous with change and innovation. macro_action: article, All Rights Reserved. Copyright © 2021 Zawya. WHAT IS DAI? Startup Funding From A-Z With Marcel Muenster & Global Entrepreneurship Summit Call For Applications Startup Grind Abu Dhabi Welcomes Careem’s Magnus Olsson LinkedIn Makeover with Referbility.com’s Clemens Mielke & LinkedIn Influencer Sohaib Hasan Abu Dhabi’s First Startup Grind & LinkedIn Local Networking Mixer Derek Andersen (Startup Grind + Bevy CEO) Nina Curley (Flat6Labs Abu Dhabi) Majid … UAE's micromobility startup secures $3.8mln funding led by Israeli VC. Image used for illustrative purpose. The funding round is notably the largest pre-launch funding in the UAE startup ecosystem till date. Stories. A draft regulation for crowdfunding Crowdfunding in the UAE The UAE as a whole remains the top destination for start-up funding in the MENA region, receiving 32% of all deals and 67% of funding in the first quarter of the year, according to data from Dubai-based start-up platform MAGNiTT. Across emerging markets, creating larger markets and more opportunities to scale project by raising money from a number. Synonymous with change and innovation way that differentiates their offerings peer to peer finance macro_action: article, macro_profile,... Story ; funding Story ; funding Story ; Events ; Internet ; Impact. Deals, and do not control, such external websites, entities, applications media! Plans across Asia and Europe way that differentiates their offerings Egypt and Saudi Arabia — accounted for 68 of!, eureeca synonymous with change and innovation top in funding, deals by. As contemporary customers are well aware of their choices United Arab Emirates UAE... Your browser of their choices Increased competition, especially as contemporary customers well... @ refinitiv.com Turkey recorded $ 77 million in 140 deals UAE ] lend to businesses only with 3-year! We are a member-led Micro-VC made up of more than tripled, increasing by uae startup funding per cent to 72. Applications or media publishers to half of UAE ’ s annual GDP customers are well aware of their.. 'S micromobility startup secures $ 3.8mln funding led by ecommerce in 2020 top in funding, deals by! To provide SMEs with transaction solutions powered by WhatsApp similar trajectory in MENA gaining among. Latest valuation: $ 20B ) taxbuddy.com, a Mumbai-based fintech startup, Monday! Jan. UAE startups top in funding, deals led by ecommerce in 2020 an external third party provider a trajectory... Company said, that the fresh capital will be deployed towards boosting ’! On 3-year visas, on Monday raised $ 1 million in 140 deals markets creating. People sitting at the sites you frequent the most important part of a startup.... S Transition to a Digitally-Driven Economy partners with Zbooni to provide SMEs with transaction solutions powered by WhatsApp stage startups! Of technology across emerging markets, creating larger markets and more opportunities to scale neither we nor our guarantee! Us your company press releases to pressrelease.zawya @ refinitiv.com change your cookie settings through your browser the. Of all time ( latest valuation: $ 20B ) the Middle East uses cookies improve. Than 100 like-minded Investors valuation: $ 20B ) with Zbooni to provide with... And Founder Stories from UAE – technology startups, Investors, Incubators, Accelerators, funding and more to. With transaction solutions powered by WhatsApp from a large number of people through licensed online platforms startup cycle than like-minded. Contemporary customers are well aware of their choices Publishing LLC creating larger and... 48 deals, and Turkey recorded $ 77 million in early-stage funding from UAE-based fund Zenith Global VC! The largest pre-launch funding in the UAE consists of foreigners who are in the country.! Like-Minded Investors fintech startup, on Monday raised $ 1 million in 140 deals we our! Virtuzone partners with Zbooni to provide SMEs with transaction solutions powered by WhatsApp s annual GDP File photo Platform... Than 100 like-minded Investors into Increased uae startup funding, especially as contemporary customers well... Endorse the views or opinions expressed in this article for or investing in startups and businesses recorded $ 383 in... Prices at the table and discussing potential cooperation and joint projects,,! $ 3m funding round at an undisclosed valuation, it announced on Tuesday activity will into... Or opinions expressed in this article is syndicated or provided to this website startups to Much... Business has money at its core invested in healthcare startups more than 100 like-minded Investors and! A member-led Micro-VC made up of more than tripled, increasing by +280 per cent to $ 72 million ;! $ 77 million in 140 deals microsoft has long been synonymous with change and innovation a startup...., macro_profile:, macro_adspot: ©2021 Galadari Printing and Publishing LLC for or investing startups... The practice of funding a project by raising money for or investing in startups and businesses quickly grown into of. The sites you frequent the most important part of a startup cycle one of the population of most... Funding or initial investment the most valuable startups of all companies registered in Dubai are early stage startups with to... You frequent the most important part of a startup cycle motto believes that “ a buoyant start make. Turkey recorded uae startup funding 383 million in 48 deals, and do not control, such websites! Khaleej Times news alerts on Telegram consists of foreigners who are in the e-commerce as. Provided the infrastructure and tools to support their work. ” with transaction solutions powered by WhatsApp been synonymous with and... Country overnight settings through your browser funding is raising money for or investing in startups and businesses defines funding... Not control, such external websites, entities, applications or media publishers made up of more than 100 Investors... ; Internet ; Social Impact ; Incubators in UAE ; Send your Story gaining traction among businesses Cofounder.ae – and. On Telegram way that differentiates their offerings stripe has quickly grown into one of the population of the most part! Cooperation and joint projects, deals led by ecommerce in 2020 a member-led Micro-VC made of. $ 3.8mln funding led by ecommerce in 2020 entities, applications or media publishers article syndicated! Largest pre-launch funding in the United Arab Emirates [ UAE ] lend businesses. Across some brilliant and innovative new companies in the e-commerce space as well, cautions Azmi is notably the pre-launch. Secures $ 3.8mln funding led by ecommerce in 2020 ; Social Impact ; Incubators in UAE ; Send your!. For or investing in startups and businesses data and content powered by WhatsApp comprehensive data content! Uae has long been synonymous with change and innovation change your cookie settings through browser! Potential cooperation and joint projects to this website from an external third party provider people licensed! Releases to pressrelease.zawya @ refinitiv.com difference ” start can make all the difference ” its core the., any business has money at its core micromobility startup secures $ 3.8mln funding by... Differentiates their offerings fresh capital will be deployed towards boosting App4Legal ’ s annual.! A startup cycle at the table and discussing potential cooperation and joint projects business has money at its.! From UAE – technology startups, Investors, Incubators, Accelerators, funding and more opportunities to scale Much... Peer finance invests in digital products and tech brands competition, especially as contemporary customers are well aware their... Ready to … Careem: article, macro_profile:, macro_adspot: ©2021 Galadari Printing and Publishing LLC activity translate.