Total technology industry venture financing deals worth $283.2m were announced in Middle East and Africa in July 2022, led by $64m venture financing of AI21 Labs, according to GlobalData’s deals database.
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The value marked a decrease of 74.9% over the previous month of $1.13bn and a drop of 71.7% when compared with the last 12-month average of $1bn.
Middle East and Africa held a 5.09% share of the global technology industry venture financing deal value that totalled $5.56bn in July 2022. With a 4.05% share and deals worth $225m, Israel was the top country in Middle East and Africa’s venture financing deal value across technology industry.
In terms of venture financing deal activity, Middle East and Africa recorded 28 deals during July 2022, marking a decrease of 64.56% over the previous month and a drop of 59.42% over the 12-month average. Israel recorded 12 deals during the month.
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Middle East and Africa technology industry venture financing deals in July 2022: Top deals
The top five technology industry venture financing deals accounted for 78.7% of the overall value during July 2022.
The combined value of the top five technology venture financing deals stood at $223m, against the overall value of $283.2m recorded for the month.
The top five technology industry venture financing deals of July 2022 tracked by GlobalData were:
1) Ahren Innovation Capital,Amnon Shahua,Mark Leslie,Pitango Venture Capital,TPY Capital and Walden Catalyst Ventures $64m venture financing deal with AI21 Labs
2) The $63m venture financing of Aurora Labs by Moore Strategic Ventures,MSV and Porsche Automobil Holding
3) AlJazira Capital,Astra Group,Audacia Capital and Ismail Ali Abudawood Trading $41m venture financing deal with YAP Holding
4) The $30m venture financing of Edge Gaming by AnD Ventures,Corner Ventures,Playtika Holding and Stardom Ventures
5) Emerge,Fort Ross Ventures,ICON,Insight Partners,Jibe Ventures and SquarePeg $25m venture financing deal with Deci.AI