The UAE led startup fundraising in the region once more for the month of March, closing 11 deals.
Entrepreneurship knowledge platform Wamda released startup funding data for the month of March 2021, reporting that MENA startups raised $170 million in March, a 6% rise month on month, across 43 deals. The platform noted that this takes the total amount raised in the first quarter of this year to $396 million across 125 deals.
The UAE led the charge in terms of amount invested in March, with $130 million invested in 11 startups. This was primarily down to two companies, agritech Pure Harvest ($50 million) and last-mile delivery Lyve ($35 million), Wamda said.
UAE startups raised $256 million across 38 deals during Q1 2021, leading in terms of deals closed on a quarterly basis as well.
You can find the full results on Wamda, here.