MIDDLE EAST AND NORTH AFRICA • FINANCIAL SERVICES
JULY 19, 2017
MAGNiTT’s MENA funding report card reveals a pick up in Q2 investments: $290m invested in 88 disclosed deals across the region in the first six months of the year!
(Dubai, United Arab Emirates) July 19th, 2017 – With transparency at the core of MAGNiTT’s values, today it publishes their follow up to the Q1 funding report card with an update overviewing the first six months of the MENA funding landscape. It’s report highlights positive news for Entrepreneurs and Investors alike with a solid start to 2017. In the first six months of this year they identified 88 disclosed deals amounting to $290m in startup funding.
Key takeaways from MAGNiTT’s H1 report card include:
MAGNiTT’s founder, Philip Bahoshy, states “this is positive news all around for Entrepreneurs and Investors showing a healthy appetite for investment in MENA startups”. He also notes “ There is generally a lag in reporting of startup funding because of confidentiality concerns and time to close deals and I expect there to be a further flurry of activity after the summer”. These positive signs highlight a growing and healthy ecosystem with continued room for improvement.
This report looked to provide additional information to further empower stakeholders to make decisions on how best to further boost and develop the startup ecosystem across the region. The MAGNiTT founder also highlighted that they continue to build relationships with VCs and startups to gather the most comprehensive data set of startups but that transparency of information remains an issue for the region with regards to data reporting.
Bahoshy notes “there was a flurry of activity leading up to Ramadan and the summer”. As noted in their previous report VC are investing to close out existing funds while simultaneously looking to close new funds which will no doubt create continued momentum into Q3 after the summer.
In conclusion, the latest report card shows continued funding in the MENA region and raises further awareness and transparency on the MENA regions funding environment. A strong start to the region sets it up to match if not exceed 2016 numbers. All data of investments on startups are available on www.magnitt.com where you are able to track funding history as well as portfolios of the regional VCs.
MAGNiTT, founded by Philip Bahoshy, is the largest online community platform for startups across the MENA region. Based out of Dubai, UAE, MAGNiTT connects entrepreneurs directly with ecosystem stakeholders including funders, mentors, support services, and talent. Startups can apply for funding directly to VCs and angel networks from MAGNiTT. Investors, Corporates, Mentors and Service providers are able to review information on over 3,500 startups including their funding history. MAGNiTT is also an established provider of data and analytical reporting for the MENA startup ecosystem.
For more information, interview requests and high resolution images contact [email protected]
For more information about MAGNiTT http://www.magnitt.com
Follow MAGNiTT on social media on Facebook, Twitter, Linkedin and Instagram
Philip Bahoshy is the founder and CEO of MAGNiTT, an online community that connects MENA entrepreneurs with stakeholders across the MENA ecosystem. Raised in the UK with Iraqi origins, Philip obtained an MBA from INSEAD in 2013 and a BSc in Economics from the London School of Economics. During his time in Dubai, Philip worked at Oliver Wyman in the Financial Services practice for three years, followed by nearly three years at Barclays Wealth working as Chief of Staff to the CEO advising on strategic initiatives. Philip has lived in the UAE for more than eight years and is passionate about developing the MENA startup ecosystem.
“Disclaimer: Seedstars encourages freedom of speech and the expression of diverse views. The views of columnists published on Seedstars are therefore their own and do not necessarily represent the views of Seedstars.”
CENTRAL AND EASTERN EUROPE • INVESTMENT
How to support impact investment in CEE and what chess to do with it | Olena Boytsun
Olena leads Luminate's funding activities in Central and Eastern Europe, including Ukraine, Georgia, and the Baltics.
LATIN AMERICA • TECH
Fifteen Tech Startups from Latinamerica Advance to Regionals of Seedstars World Competition 2020
Let’s take a closer look at some of the promising startups in the region that have made it to the LATAM Regional Finals of the Seedstars World Competition 2020/21.
CENTRAL AND EASTERN EUROPE • TECH
17 Tech Startups from CEE Advance to Regionals of Seedstars World Competition 2020
Out of the 570 applications we received, we had selected 17 of the most promising startups in the batch to move on to the next stage.
LATIN AMERICA • OTHER
7 startups selected for the final phase of the Expansion Program, Colombia 2020
The MinTIC, APPS.CO and Seedstars, the consortium running the Expansion Program, have selected seven startups with a mission to expand their business to international markets.
CENTRAL AND EASTERN EUROPE • OTHER
Five startups from Moldova vie for a spot at the Seedstars World Competition 2020/21
Five up-and-coming tech startups from Moldova are set to pitch on November 26th at 16:00 at the Online Seedstars Chisinau Competition 2020/21
AFRICA • EDUCATION & CONSULTING
Seedstars Partners with UNITEL for Seedstars World Competition to Grow a Startup Ecosystem in Angola
This year, we partnered with UNITEL Angola to make sure more entrepreneurs in the country have access to quality learning and investment opportunities.
GLOBAL • INVESTMENT
Seedstars Brings Its Startup Competition Online: 2020 Applications Are Open
We are happy to announce that Seedstars World Competition 2020/21 will be held exclusively online and the call for startups is open until July 31st.
GLOBAL • ECOSYSTEM ENABLER
Online Is The New Black: Running Events In The Times Of Coronavirus
Event organizers are no strangers to crisis management. Last-minute speaker cancellations, Wi-Fi connectivity issues, missing files… The list goes on
GLOBAL • OTHER
Online Seedstars World Competition 2019/20
How does it feel to compete with the 44 most promising startups from all over the world? And how does it feel when your name is announced as the winner?
OCEANIA • FINANCIAL SERVICES
Bringing Online Payments to the Population with 3% Credit Card Penetration | Celeste (Lupe) Solofa
GLOBAL • EDUCATION & CONSULTING
The Mag: Education
Living in the era of the ‘technology Renaissance’ as the digital merges with the physical, and robots are capable of executing surgeries on the human brain, requires a completely new approach to education starting in early childhood, continuing throu
GLOBAL • HEALTHCARE
The Mag: Accessibility
According to the World Bank research, one billion people, or 15% of the world’s population, experience some form of disability, with prevalence higher in developing countries.
GLOBAL • OTHER
The Mag: Migration
Everyone is a migrant, and most people are not a native of the place where they are born. So, why is the world divided into migrants and “natives”?
GLOBAL • ENERGY & NATURAL RESOURCES
The Mag: Environment
Around 3.5 billion to 7 billion trees are cut down each year, and during 2018 alone, 3.6 million hectares (8.9 million acres) of primary tropical forest disappeared.
MIDDLE EAST AND NORTH AFRICA • HEALTHCARE
From $100 M USD Exit to Street Art Activism | Marc Berrebi
It is difficult to present Marc Berrebi in just a few sentences. An entrepreneur since he can remember, but an artist at heart, this multi-exit founder has, what one could say, lived it all.
MIDDLE EAST AND NORTH AFRICA • INVESTMENT
How Kenza Traveled the World to Find Her Calling and Started an African VC Fund | Kenza Lahlou
Kenza was born in Morocco, but has quite a rich international experience: from France and Singapore, all the way to the USA. At some point, she found her calling and decided to go back to her home country.
LATIN AMERICA • HEALTHCARE
Transforming the Lives of Millions of People with Disabilities Around the World | Alvaro Rios
After watching the US TV show “The Six Million Dollar Man” at the age of 5 in Colombia, Alvaro Rio, founder of Human Assistive Technologies, knew exactly what he wanted to do with his life.
ASIA • ENERGY & NATURAL RESOURCES
Disrupting the One Billion Energy Market, One Household at a Time | Sebastian Groh
Sebastian comes from a middle-income family in Germany and originally pursued a career as an investment banker.
AFRICA • EDUCATION & CONSULTING
Advancing Learning for Millions of Kids Through Entertainment | Lucrezia Bisignani
Lucrezia wanted to be an actress and started her entrepreneurial journey when she was 8 years old, selling crafts to give to those most in need.
OCEANIA • FOOD & BEVERAGES
From Bait to Plate: How Traseable Is Increasing Food Security | Kenneth Katafono
Come with us to the middle of the Pacific, where Kenneth is shaping the future of the fishing industry. Did you know that around 70% of the world’s tuna comes from the Pacific?
LATIN AMERICA • TECHNOLOGY
Three Continents, One Data-Driven eCommerce Startup and a Baby | Ann Pichestapong
In this episode, we meet Ann, founder and CEO of DataCue, who not only launched her own company but did it with her husband as her co-founder whilst travelling across Central and South America for their honeymoon!
GLOBAL • EDUCATION & CONSULTING
Seedstars Summit 2020 Is Going Online
Given the growing concerns around the COVID-19 outbreak in Europe, we’ve decided to redesign the Seedstars Summit and bring it fully online to ensure everyone’s safety.
CENTRAL AND EASTERN EUROPE • EDUCATION & CONSULTING
From $300 to $60K Monthly Revenue and Serving 400,000 Students Worldwide | Daria Kroshkina
With a passion for learning, growth and continuous development, Dasha turned the knowledge she used herself to secure scholarships.