Saudi Arabia secured extra enterprise capital investments than its principal regional competitor, the United Arab Emirates, for the primary time final 12 months as government-backed funds boosted spending within the sector.
Startups within the kingdom raised $1.4 billion, a 33% improve from a 12 months earlier and simply over half of all enterprise capital funding raised within the Center East and North Africa in 2023, in accordance with Dubai-based enterprise capital knowledge platform Magnitt.
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