In the Middle East, $704M was invested across 564 different startups in 2019

Nov 21, 2020 · 1 min read
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While the coronavirus had devastated startups every corner of the world, the Middle East surprisingly has a blostering startup scene.

According to a report from MAGNiTT, $704m was invested across 564 projects in this sector of the globe, which had been non-existant in the past.

One of the region’s bigges purchases was Careem, which was bought by Uber for $3.1 billion to compete for cab services in this competitive region.

Be sure to check out the paper published by MAGNITT to see their in-depth numbers.

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