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Saudi Arabia startup investment grew substantially in 2023- 159% increase over 2022

Updated: Jan 20

Hot off the press from Wamda: Saudi Arabia startup investment grew substantially in 2023 (159% vs 2022) while the UAE dropped by 47%. In its' "Trends to Expect in 2024" Wamda expects to see more failures this year as startups struggle to raise capital.

"The trend of lower valuations, down-rounds and restructuring will continue this year. Startups that are not well funded will not survive unless they are profitable. Revenues will shrink or stay the same to conserve cash. Back to basics will be even more important this year."

Are you ready for 2024?

Thank you Wamda for the thought leadership 🙏 🙏

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