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Dubai, 10th March 2020: Wamda, the Middle East region's leading startup ecosystem enabler has launched 'The state of the pre-seed startups in Mena' report in collaboration with STEP Conference, the leading technology festival for emerging markets. The report features findings based on data from 627 startup founders who applied to the Wamda X fellowship programme and includes research supplemented by STEP. The UAE remains the regional hub for entrepreneurship with 35.5% of the startups surveyed based in the country, followed by Egypt with 26.5% in sectors ranging from e-commerce, fintech, healthcare, and marketplaces among others. Only 32% of startups are currently registered of which 60% are registered in either Egypt or the UAE. Ray Dargham, CEO of STEP said, “We are delighted to b...

MENA (Middle East North Africa) based Mumzworld, an e-commerce platform dedicated to mothers, babies and children has recently raised its fifth and largest round of funding. The fresh funding will be utilized to implement its regional growth plans. The funding round was led by Swicorp, an investment banking firm that offers corporate finance advisory services focusing on MENA and Wamda, MENA's leading venture firm investing in startups. Apart from them, the round also saw participation from Tamer Group and FMCG company. Existing investors of Mumzworld include- Wamda, WSB Holding, Precinct Capital, Riverbank Technologies and Saned. The e-commerce startup has also seen some quick funds from prominent Saudi groups operating in adjacent segments. The mother and childcare e-commerce po...

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Wamda Launches ‘State of Pre-Seed Startups in Mena’ Report

Dubai Based E-commerce Platform ‘Mumzworld’ Raises its Largest Ever Funding