“If you compare today against five years ago, it’s a whole other world. The development was extremely rapid, extremely quick; so what you’re seeing today is a large influx of capital in the market, meaning there’s also a lot more startups than when we first started.”
–Ammar Alkhouli, investment analyst at Saudi Technology Ventures, the largest technology VC fund in the Middle East, discussing the growing interest in startups in Saudi Arabia. In 2020 alone, the country raised a record of $152 million in VC funding, with a 55% increase in total funding from the Middle East and North Africa deployed to Saudi startups. [Rest of the World]
