$53 million for 58 tech upstarts. New funds and accelerators are shoring up the sector

Last year, 58 tech startups were established, with a total funding value reaching $53 million. This is a more than six-fold increase, from $7 million and 11 startups in 2013.

According to Azza Yehia, Research and Data Director at ArabNet, the number of deals increased every year, totaling 162 startups in four years.

Seven new funds and accelerators were initiated between 2017 and today. This is an almost 25 percent share of all new funds in the MENA region. The new funds, in addit...

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