The News
December has seen large deals for Gulf startups.
Music streaming app Anghami raised $55 million from Dubai-based entertainment network OSN Group; the same amount was raised by UAE-based fintech CredibleX. Saudi Venture Capital pledged to invest in a $150 million VC fund targeting Saudi and regional technology companies.
The region has largely bucked the prevailing global retrenchment in venture capital funding this year, according to investment and research platform Wamda.
Investors remain bullish, particularly in the UAE and Saudi, with Dubai now ranking third among global cities for VC ecosystem growth, according to PitchBook.
AD