Startup investment in the Middle East and North Africa (MENA) region surged 190% year-on-year in June 2026, with 41 startups collectively raising $148.2 million, according to data from Wamda. However, the monthly total declined 76% compared to May, partly due to regional conflict affecting investor sentiment.
UAE Leads, Egypt Rises, Saudi Third
The United Arab Emirates maintained its lead in MENA startup funding, with 12 companies securing $93.8 million. Egypt climbed to second place, with eight startups raising $41.4 million, benefiting from economic stabilization including a steadier Egyptian pound and record tourism earnings. Saudi Arabia ranked third with five deals totaling $5.7 million.
Morocco re-entered the rankings after a quiet May, driven largely by a $5 million oversubscribed seed round for property tech firm Agenz. Oman showed vitality through volume rather than value, as 10 startups raised $1.3 million, highlighting the impact of local accelerator programs.
Enterprise AI Dominates, Fintech Active
On the sectoral front, Enterprise AI stole the spotlight, with just two companies raising $76 million combined. Fintech held steady as the second-largest category and the most active by deal count, with 13 startups raising $43.5 million. Regulatory tech followed with $15.2 million across three rounds, while property tech attracted $7 million through three transactions.
Early-stage ventures captured the bulk of attention, with no major late-stage equity rounds recorded. Capital flowed primarily to seed and Series A companies, alongside debt financing. Business-to-business models remained investor favorites, drawing $96.3 million across 27 deals, compared to under $50 million for consumer-oriented startups.
Noon Academy Acquires Almakhfi
Noon Academy, a Saudi-based education tech firm, has acquired Almakhfi, a digital platform specializing in preparation for the Qudurat and Tahsili examinations. The acquisition aims to strengthen Noon Academy's AI-powered learning ecosystem and expand its services for students across the Kingdom.
The acquisition follows Noon Academy’s recent SR153 million ($40.8 million) Series B funding round led by Wa’ed Ventures and Raed Ventures. According to a press statement, it forms part of the company’s strategy to build a comprehensive digital education platform combining live learning, artificial intelligence, and personalized educational experiences.
Through the acquisition, Noon Academy plans to integrate Almakhfi’s specialized exam preparation content into its platform, enabling students to access more personalized, AI-powered learning journeys while expanding the availability of high-quality educational resources. Noon Academy, founded in 2013 by Mohammed Aldhalaan and Abdulaziz Al-Saeed, offers live classes, AI-powered tools, and programs covering core school subjects, English, programming, robotics, and drone technology.
Uvera Closes Seed Round
Uvera, a deep-tech Saudi startup specializing in shelf-life extension and supply chain intelligence for the fresh food industry, has closed its seed funding round. The round attracted participation from Morgan Stanley Inclusive & Sustainable Ventures, LAB7 (the venture-building arm of Aramco), Core Vision, and a group of strategic angel investors.
The funding will be used to scale commercial deployments and advance Uvera’s technology platform, which combines proprietary shelf-life extension technology with blockchain-backed traceability and IoT-powered analytics. LAB7 will collaborate with Uvera to strengthen technical robustness, scalability, and data integrity of its platform.
Asrar Damdam, founder and CEO of Uvera, said: “This milestone reflects our efforts to address food waste at scale — and the confidence our investors have in Uvera’s ability to help deliver measurable impact. We’re building the infrastructure for a more resilient and efficient food system, and this investment allows us to bring our technology to more partners across the value chain.”
Planno Raises Strategic Investment
Planno, a Dubai-based Geospatial AI platform for solar developers, has secured a strategic investment from Incubayt Investments, the sustainability-focused venture firm founded by Sami Khoreibi. According to a press statement, the funding will be used to accelerate international expansion and strengthen its geospatial AI platform for the solar industry.
Planno, founded in 2023 by Daniel Domingues, integrates satellite imagery with local market data to help solar developers, EPC firms, and public agencies identify high-potential commercial and industrial rooftops suitable for solar installations. Khoreibi said: “The solar industry has never been short of capital or sunlight. What it has lacked is intelligence. Where to build, and who owns the roof. In a data-driven economy, that insight is as valuable as the projects themselves. Planno is exactly that.”
Domingues added: “We want every solar developer in every market, not just the largest ones, to have proper data to work with. Incubayt’s early backing gave us the foundation to build that. We’re now applying the same playbook country by country.”
Dubizzle Group Invests in Takeem
Dubizzle Group, a leading online classifieds platform in the Middle East, has announced a strategic partnership and investment in UAE-based proptech Takeem. As part of the partnership, Bayut and dubizzle will be the exclusive portal for Takeem’s Rental Guarantee solution, complementing the Group’s growing suite of rental services.
Takeem’s Rental Guarantee protects landlords against tenant non-payment and includes emergency maintenance cover for urgent property repairs, enabling monthly digital direct debit payments. Haider Ali Khan, CEO of Dubizzle Group UAE, said: “Takeem is solving one of the most important gaps in the rental journey, and what stood out to us was not only the strength of the product, but the clarity of the founding team’s vision.”
Founded by Rakesh Mavath and Pooja Vithlani, Takeem has scaled quickly to onboard over 100,000 units. The company has seen strong commercial momentum, with client onboarding increasing by 900 percent over the past two months. Mavath said: “Partnering with Dubizzle Group allows us to bring Rental Guarantee to a much wider audience through Bayut and dubizzle, embedding protection into the rental journey where it matters most.”
