Startup investment across the Middle East and North Africa totalled $783 million in July 2025 across 57 deals, a 1,411% increase from June and more than double the amount raised in July 2024, according to Wamda and Digital Digest.
Saudi Arabia led regional activity with $396.5 million invested across 16 startups. The UAE followed with $359 million spread across 22 deals. Iraq placed third thanks to a $15 million raise by InstaBank. Morocco overtook Egypt into fourth place, driven by a $7.5 million round for Ora Technologies. Egypt slipped to fifth with just $4 million raised over seven deals.
Deeptech emerged as the top-funded sector, drawing $250.3 million from four rounds. E‑commerce also amassed $250 million, largely due to Ninja’s record raise. SaaS startups raised $89 million across 12 deals. Fintech, once the region’s dominant sector, trailed at $61 million across 11 rounds.
Two startups, Ninja and XPANCEO, accounted for 56% of the total funding. XPANCEO, a Dubai-based deeptech firm, raised $250 million in Series A at a valuation of $1.35 billion. It’s a smart contact lens that integrates AR, health-monitoring, night vision, optical zoom, and wireless charging in a device thinner than a human hair.
Consumer-facing (B2C) startups captured $534 million in funding, led by Ninja and XPANCEO. Business-to-business models followed with $202.4 million across 32 deals.
Funding remained concentrated among male-led ventures. Founders who are male raised $774.5 million across 43 deals. Mixed-gender teams secured $5.8 million, while female-led startups received just $3 million across eight deals.
Funding levels through July have already exceeded the full-year total for 2024, highlighting growing investor interest in MENA’s startup sector. Backed by mega-rounds and a strong early-stage pipeline, with Saudi Arabia and UAE in the lead and emerging markets gaining traction, the region is on course to strengthen its position as a global innovation hub.
