Mena startups raised $267 million in June 2021, pushing Q2 investment to $552 million
Startups in Mena have raised $267 million across 44 deals in June, propelling the second quarter investments to more than $552 million, a 33 per cent increase compared to the first quarter of 2021.
Perhaps one of the most exciting investment deals in June was that of Egypt-based Trella, which attracted $42 million in a debt and equity round led by global shipping giant Maersk. Overall, eight Egyptian startups raised $52 million, ranking the country second in terms of number and value of deals.
Large rounds in the e-commerce sector including those from Floward ($27.5 million) and OpenSooq ($24 million) pushed total investments in the sector to $110.9 million across nine deals, while nine fintech startups raised $71.5 million. The logistics sector raised the third highest amount with $49 million thanks to Trella’s round.
Five Colors raises SAR5 million
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Pfizer Shots: Outbound migrants face trouble registering
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Proactive headlines: KR1, Shanta Gold, Cloudbreak Discovery…
A look at some of today s major headlines from the Proactive newswire
KR1 PLC (LON:KR1) net asset value jumped five-fold last year as it reaped the benefit of the upsurge in interest in cryptocurrencies. NAV per share at the end of the year to December 2020 was 28.97p, compared to 5.72p a year as assets in the crypto investor s portfolio jumped in value to £37.9mln from £7.5mln. Profits for the soared to £30.3mln (£1.15mln).
Shanta Gold Ltd (LON:SHG) announced high-grade drilling results from the phase 1 drilling programme at its West Kenya project. Visible gold was identified in four different intersections across 15 holes drilled as part of the drilling programme conducted in April and May 2021 at the Isulu and Bushiangala deposits.
Saudi-Based Blockchain Startup IR4LAB Raises $1 5M from Wa ed Ventures
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