MENA startup ecosystems have been attracting attention for some years. Startups are predominantly catalysts for innovation and essential economic growth and job creation drivers. Young firm innovation is a crucial contributor to aggregate productivity growth in the Middle East and North Africa (MENA). Since the MENA states got aware of the necessity to diversify their economies away from oil and gas, they have put considerable effort into creating unique innovation ecosystems. Through the years, MENA has attracted investors' and other stakeholders' (in the innovation ecosystem) attention; then, many successful startups were built.
Here are the Top 10 Startups from MENA Region according to the funding they raised in total:
Kitopi ($804 mn): Kitopi is a Kitchen as a Service (KaaS) platform that enables restaurants to open delivery-only locations by providing the necessary managed infrastructure and software with minimal capital expenditure and time.
Pure Harvest Smart Farms ($272 mn): Pure Harvest Smart Farms is a regional innovator in sustainable agriculture focused on producing premium fruits and vegetables in the challenging climates of the Arab Gulf region using world-leading controlled-environment agriculture technologies.
STARZ PLAY ($150 mn): Stream thousands of blockbuster Hollywood movies, TV shows, documentaries, kid's entertainment, and same-day-as-the-US series – plus dedicated Arabic and Bollywood content – to 19 countries across the Middle East and North Africa.
tabby ($186 mn): Tabby provides consumers across the GCC with the flexibility to pay for their online and in-store purchases in interest-free installments. tabby helps over 2,000 leading retailers grow their sales.
Tamara ($116 mn): Tamara is MENA's leading payments innovator, focused on providing a seamless experience for merchants and customers through fair and transparent financial solutions.
Sary ($112.1 mn): Sary is a B2B marketplace that seamlessly connects small businesses with suppliers. The company's mission is to empower organizations with more innovative ways to operate and grow efficiently.
Postpay ($63.5 mn): Postpay was founded in 2019 and is the leading buy now, pay later provider in the region. We offer shoppers transparent, flexible, and seamless options to pay in installments online (on our partner stores) with absolutely no added risk to our partners.
MaxAB ($62.5 mn): MaxAB is a B2-B e-commerce platform that connects food and grocery retailers to suppliers in the most under-served geographies.
iMile Delivery Services ($50 mn): iMile is a logistics and courier services provider across the Middle East. It is the first courier company providing smart logistics and courier services to the e-Commerce business and brings the unique value of solving Cash On Delivery (COD).
Quiqup ($48.9 mn): Quiqup provides on-demand, same-day, and scheduled delivery solutions to retailers and restaurants. Quiqup is reinventing how urban consumer deliveries are done for better business, cities, and living.
* The source of startup one-lines is Crunchbase.
January 27, 2023
January 25, 2023