Total technology industry artificial intelligence venture financing deals worth $419.5m were announced in Middle East and Africa in June 2022, led by $142m venture financing of Coralogix, according to GlobalData’s deals database.

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The value marked an increase of 133.6% over the previous month of $179.6m and a rise of 60.3% when compared with the last 12-month average of $261.77m.

Middle East and Africa held a 10.95% share of the global technology industry artificial intelligence venture financing deal value that totalled $3.83bn in June 2022. With a 10.87% share and deals worth $416.5m, Israel was the top country in Middle East and Africa’s artificial intelligence venture financing deal value across technology industry.

In terms of artificial intelligence venture financing deal activity, Middle East and Africa recorded 22 deals during June 2022, marking an increase of 340% over the previous month and a rise of 83.33% over the 12-month average. Israel recorded 17 deals during the month.

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Middle East and Africa technology industry artificial intelligence venture financing deals in June 2022: Top deals

The top five technology industry artificial intelligence venture financing deals accounted for 72.4% of the overall value during June 2022.

The combined value of the top five technology artificial intelligence venture financing deals stood at $303.5m, against the overall value of $419.5m recorded for the month.

The top five technology industry artificial intelligence venture financing deals of June 2022 tracked by GlobalData were:

1) Advent International,Brighton Park Capital,Greenfield Partners,Joule Ventures,Maor Investments,O.G. Tech Ventures,Red Dot Capital Partners,REVAIA and StageOne Ventures $142m venture financing deal with Coralogix

2) The $90m venture financing of Workey Employees Recruitments by ACCEL,Eight Roads Ventures,Intel Capital and Lumira Capital Investment Management

3) Hiro Capital and Insight Partners $35m venture financing deal with IncrediBuild

4) The $21m venture financing of Konnecto Top Tech by Differential Ventures,Magna Capital Partners,Mindset Ventures,PeakSpan Capital,SeedIL Ventures and TPY Capital

5) Headline Ventures,Hetz Ventures Management,Khosla Ventures,OurCrowd,Qualcomm Ventures,Samsung NEXT Ventures and TPY Capital $15.5m venture financing deal with Tabnine