Magnitt: startups in Saudi Arabia raised $1.4B in 2023, up 33% YoY, for a 52% share of VC funding in the MENA region, beating the UAE for the first time (Bloomberg)

Bloomberg:

Magnitt: startups in Saudi Arabia raised $1.4B in 2023, up 33% YoY, for a 52% share of VC funding in the MENA region, beating the UAE for the first time  —  – Saudi Arabia dominates tech scene with 52% share of funding  — Overall regional funding drops 23% amid shifting landscape