Dubai scaleups raised over $11.7 billion in funding over the previous decade: Report

The report, titled ‘Dubai’s Enterprise Capital Ecosystem’, gives an outline of the investor panorama backing the startups and scaleups reworking Dubai and the MENA area. It mentioned UAE scaleups had contributed considerably, accounting for 65 per cent of the entire capital raised all through the area.

The variety of scaleups has additionally elevated significantly in Dubai, rising 26 per cent between 2021 and 2022. Concerning absolute numbers, Dubai noticed a rise of 64 scaleups between 2021 and 2022, rising from 242 to 306. Omar bin Sultan Al Olama, Minister of State for Synthetic Intelligence, Digital Economic system, and Distant Work Purposes and Chairman of the Dubai Chamber of Digital Economic system, mentioned, “The leads to the report replicate our long-term dedication to growing sensible digital options and deploying these to construct a brand new and future-facing mannequin for the financial sector within the UAE, and Dubai particularly.”

Enterprise funding in Dubai has seen large progress up to now decade. From a time of solely seed stage and earlier rounds, Dubai has grown to develop into the one metropolis within the MENA area to be dwelling to startups to lift funds in Collection E and Collection F rounds.