1. Deals Analysis
February 24, 2021

Technology industry venture financing deals total $328.64m in Middle East and Africa in January 2021

By Carmen

Total technology industry venture financing deals worth $328.64m were announced in Middle East and Africa in January 2021, led by $208m venture financing of DriveNets, according to GlobalData’s deals database.

  • Embed this chart

    Embed this chart into your website

    Copy and paste the image source into your website to display the chart.

The value marked a decrease of 32.9% over the previous month of $489.64m and a drop of 8.9% when compared with the last 12-month average of $360.76m.

Middle East and Africa held a 2.29% share of the global technology industry venture financing deal value that totalled $14.35bn in January 2021. With a 2.18% share and deals worth $312.7m, 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 26 deals during January 2021, marking a decrease of 36.59% over the previous month and a drop of 38.10% over the 12-month average. Israel recorded 12 deals during the month.

Middle East and Africa technology industry venture financing deals in January 2021: Top deals

The top five technology industry venture financing deals accounted for 89.3% of the overall value during January 2021.

The combined value of the top five technology venture financing deals stood at $293.5m, against the overall value of $328.64m recorded for the month.

The top five technology industry venture financing deals of January 2021 tracked by GlobalData were:

1) Atreides Management, Bessemer Venture Partners, D1 Capital Partners and Pitango Venture Capital’s $208m venture financing of DriveNets

2) The $30m venture financing of Run:AI by Insight Partners, S Capital and TLV Partners

3) David Howell Petraeus, Elsted Capital Partners, FinTLV Ventures, Founders Fund and Hanaco Venture Capital’s $25m venture financing of Carbyne

4) The $20m venture financing of SStackPulse by Bessemer Venture Partners and GGV Capital

5) OurCrowd, Sumitomo, Team8 Capital and Wing Capital Group’ venture financing of Classiq for $10.5m.

Verdict deals analysis methodology

This analysis considers only announced and completed artificial intelligence deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.

Topics in this article: ,