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1. TRACXN TOP BUSINESS MODELS REPORT
November 03, 2021
MENA TECH

2. MENA Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Contents
MENAMENA Tech Funding - Overview 3
Top Funded Business Models 4
One pagers 9
Appendix 59
2

3. MENA Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Funding in last 1 year
3
Cybersecurity $3.4B
Food Tech $679M
AI Infrastructure $623M
Blockchain Infrastructure $572M
Enterprise Networking $539M
Commercial Real Estate Tech $515M
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Y Combinator
Flat6Labs
SEEDRA Ventures
14
12
7
Early
Stage
Insight Partners
Entree Capital
OurCrowd
19
14
11
Late
Stage
Insight Partners
Viola Group
Pitango
12
7
6
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
$ Funding # Rounds
G42
(2018, )
$800M - Series D
Orca Security
(2019, )
$550M - Series C
Kitopi
(2018, )
$415M - Series C
Fireblocks
(2018, )
$310M - Series D
Cybereason
(2012, )
$275M - Series F
Gong
(2015, )
$250M - Series E
Wiz
(2020, )
$250M - Series C
Papaya Global
(2016, )
$250M - Series D
AnyVision
(2015, )
$235M - Series C
Orca Security
(2019, )
$210M - Series C
DriveNets
(2015, )
$208M - Series B
Wiliot
(2017, )
$200M - Series C
Tel Aviv (50%)
Abu Dhabi (6%)
Dubai (6%)
Riyadh (4%)
Herzliya (4%)
Others (30%)

4. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
MENA Tech - Top Funded Business Models - last 1 year (1/5)
4
Rank Business Model $ Funding # Rounds Top Funding Round Details
1▲53 Cloud Infrastructure Security $1.6B 12 Orca Security | $550M | Series C Link
2▲72 Cloud Security $1.6B 12 Orca Security | $550M | Series C Link
3▲178 Blockchain Security $554M 5 Fireblocks | $310M | Series D Link
4▲33 Managed Cloud Kitchens $415M 1 Kitopi | $415M | Series C Link
5-- Endpoint Security $356M 3 Cybereason | $275M | Series F Link
6▲20 HRMS for Enterprises $350M 3 Papaya Global | $250M | Series D Link
7▲20 Payroll Management Solutions $350M 2 Papaya Global | $250M | Series D Link
8▲254 Digital Wallets $349M 13 stc pay | $200M | Series D Link
9▲5 Secure Access Service Edge as a convergence (SASE) $331M 2 Cato Networks | $200M | Series F Link
10▼8 Voice Analytics $250M 1 Gong | $250M | Series E Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

5. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
MENA Tech - Top Funded Business Models - last 1 year (2/5)
5
Rank Business Model $ Funding # Rounds Top Funding Round Details
11▼8 Revenue Forecasting $250M 1 Gong | $250M | Series E Link
12▲38 Facial Biometric Systems $235M 1 AnyVision | $235M | Series C Link
13-- Warehouse Automation Robots $212M 2 Fabric | $200M | Series C Link
14-- Network Routing Software $208M 1 DriveNets | $208M | Series B Link
15-- Grocery Store Robotic Fulfilment Solutions $200M 1 Fabric | $200M | Series C Link
16▲150 Internet First Point of Sale Financing $199M 5 Tamara | $110M | Series A Link
17▲75 IoT Security for Devices $175M 6 Upstream Sec.. | $62.0M | Series C Link
18-- Game Streaming Management Tools $153M 2 StreamElements | $100M | Series B Link
19-- Lab Grown Meat Substitutes $141M 5 Aleph Farms | $105M | Series B Link
20-- Business Events Management Software $138M 1 Bizzabo | $138M | Series E Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

6. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
MENA Tech - Top Funded Business Models - last 1 year (3/5)
6
Rank Business Model $ Funding # Rounds Top Funding Round Details
21▲17 Neural Processing Units $136M 1 Hailo | $136M | Series C Link
22▼11 Residential Real Estate Listings $121M 5 EMPG | $100M | Series E Link
23-- Internet First Lenders $120M 1 MNT Halan | $120M | Series D Link
24▲1 In-Memory Database $110M 1 Redis Labs | $110M | Series G Link
25--
Smart Cities > Smart Mobility > Public Transport
Management
$107M 1 Optibus | $107M | Series C Link
26-- Public Transit Planning Software $107M 1 Optibus | $107M | Series C Link
27▼15 Commercial Real Estate Listings $100M 3 EMPG | $100M | Series E Link
28▲40 Parcel Delivery Management $100M 3 Bringg | $100M | Series E Link
29-- Photo Editing Apps $100M 1 Lightricks | $100M | Series D Link
30-- OTT Live Streaming Distribution Solutions $100M 1 StreamElements | $100M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

7. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
MENA Tech - Top Funded Business Models - last 1 year (4/5)
7
Rank Business Model $ Funding # Rounds Top Funding Round Details
31▼2 Ethernet Chips $100M 1 Xsight Labs | $100M | Series D Link
32-- Customer Journey Management $100M 1 Totango | $100M | Series D Link
33-- Automotive Cybersecurity $98.0M 2 Upstream Sec.. | $62.0M | Series C Link
34▲27 Surgical Robots $96.0M 1 Memic Surgery | $96.0M | Series D Link
35▲136 E-Commerce POS Financing Solutions $95.5M 3 Tabby | $50.0M | Series B Link
36-- API Security $90.0M 3 Noname Secur.. | $60.0M | Series B Link
37-- Equity Crowdfunding for Startups $85.0M 2 OurCrowd | $60.0M | Series C Link
38-- Consumer Insights $80.5M 2 Optimove | $75.0M | Series B Link
39▲61 Radiological Image Analysis Softwares $80.0M 3 AIdoc | $66.0M | Series C Link
40▲178 Predictive Analytics $78.5M 2 Earnix | $75.0M | Series D Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

8. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
MENA Tech - Top Funded Business Models - last 1 year (5/5)
8
Rank Business Model $ Funding # Rounds Top Funding Round Details
41▲22 Security Incident and Event Management (SIEM) $76.5M 3 Coralogix | $55.0M | Series C Link
42▼32 Data Science Platforms $75.0M 2 Explorium | $75.0M | Series C Link
43-- Customer Service Chatbots for Banking $75.0M 1 Personetics | $75.0M | Series C Link
44-- Personal Finance Management Solutions $75.0M 1 Personetics | $75.0M | Series C Link
45-- Marketing Analytics for Banks $75.0M 1 Earnix | $75.0M | Series D Link
46-- Software Licensing $75.0M 1 WhiteSource | $75.0M | Series D Link
47▲46 Indoor Hydroponics Farming $74.5M 2 Pure Harvest.. | $64.5M | Series B Link
48▼18 Drugs for Multiple Cancer Types $73.5M 3 KAHR | $46.5M | Series C Link
49▲8 Cyber Risk Assessment $72.0M 3 Panorays | $42.0M | Series B Link
50-- Autonomous Store Platform $70.0M 2 Trigo | $60.0M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

9. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Orca Security (2019)
$550M - Series C - Oct 2021
Wiz (2020)
$250M - Series C - Oct 2021
Orca Security (2019)
$210M - Series C - Mar 2021
Orca Security (2019)
$150M - Series C - Jul 2021
Wiz (2020)
$130M - Series B - Mar 2021
Wiz (2020)
$120M - Series B - May 2021
Wiz (2020)
$100M - Series A - Dec 2020
View all 12 Funding Rounds on Tracxn Platform
Cloud Infrastructure Security - MENA
01
9
Back to index
Cybersecurity (Check Point Software)
(# Cos: 667 | $7.7B)
Cloud Security (Orca Security)
(# Cos: 36 | $2.0B)
Cloud Infrastructure Security
(Guardicore)
(# Cos: 13 | $1.8B)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$1.6B (▲3974%)
12(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$1.8B
10
-
13
6
Guardicore
(2013, $110M)
Orca Security
(2019, $992M)
Wiz
(2020, $600M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

10. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Cloud Security - MENA
02
10
Back to index
Cloud Infrastructure (Orca Security)
(# Cos: 76 | $3.1B)
Cloud Security (Guardicore)
(# Cos: 32 | $2.0B)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$1.6B (▲5344%)
12(▲71.4%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
12
$2.0B
24
-
32
9
Guardicore
(2013, $110M)
Orca Security
(2019, $992M)
Ermetic
(2019, $27.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Orca Security (2019)
$550M - Series C - Oct 2021
Wiz (2020)
$250M - Series C - Oct 2021
Orca Security (2019)
$210M - Series C - Mar 2021
Orca Security (2019)
$150M - Series C - Jul 2021
Wiz (2020)
$130M - Series B - Mar 2021
Wiz (2020)
$120M - Series B - May 2021
Wiz (2020)
$100M - Series A - Dec 2020
View all 12 Funding Rounds on Tracxn Platform

11. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Fireblocks (2018)
$310M - Series D - Jul 2021
Fireblocks (2018)
$133M - Series C - Mar 2021
StarkWare (2018)
$75.0M - Series B - Mar 2021
Fireblocks (2018)
$30.0M - Series B - Nov 2020
StarkWare (2018)
$6.0M - Series B - Jun 2021
Blockchain Security - MENA
03
11
Back to index
Blockchain Infrastructure (Spondoolies Tech)
(# Cos: 41 | $690M)
Enablers (Fireblocks)
(# Cos: 15 | $627M)
Security (StarkWare)
(# Cos: 13 | $627M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$554M (▲6825%)
5(▲400%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$627M
7
-
13
4
StarkWare
(2018, $118M)
Fireblocks
(2018, $489M)
QED-it
(2016, $10.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

12. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Kitopi (2018)
$415M - Series C - Jul 2021
Managed Cloud Kitchens - MENA
04
12
Back to index
Food Tech (Aleph Farms)
(# Cos: 496 | $1.1B)
Shared Kitchen (The Cloud)
(# Cos: 8 | $502M)
Managed (Kitopi)
(# Cos: 6 | $502M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$415M (▲592%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$502M
3
-
6
1
Kitopi
(2018, $502M)
The Cloud OneKitchen
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

13. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Cybereason (2012)
$275M - Series F - Jul 2021
Cybereason (2012)
$50.0M - Series F - Oct 2021
MorphiSec (2014)
$31.0M - Series C - Mar 2021
Endpoint Security - MENA
05
13
Back to index
Cybersecurity (Check Point Software)
(# Cos: 667 | $7.7B)
Endpoint Security (Minerva Labs)
(# Cos: 56 | $1.1B)
Endpoint UTM (Cybereason)
(# Cos: 4 | $770M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$356M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$770M
2
-
4
2
Cybereason
(2012, $718M)
MorphiSec
(2014, $51.5M)
Clario
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

14. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
HRMS for Enterprises - MENA
06
14
Back to index
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$350M (▲312%)
3(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$457M
6
1
69
1
HRTech (Fiverr)
(# Cos: 875 | $882M)
HRMS (ActionBase)
(# Cos: 159 | $457M)
Suite (MenaITech)
(# Cos: 127 | $457M)
Enterprise (Papaya Global)
(# Cos: 69 | $457M)
Papaya Global
(2016, $440M)
MenaITech ActionBase
(1999, $16.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Papaya Global (2016)
$250M - Series D - Sep 2021
Papaya Global (2016)
$100M - Series C - Mar 2021
PalmHR (2017)
Undisclosed - Seed - Aug 2021

15. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Payroll Management Solutions - MENA
07
15
Back to index
Finance & Accounting Tech (DataRails)
(# Cos: 241 | $616M)
Payroll Management (Papaya Global)
(# Cos: 11 | $440M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$350M (▲312%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$440M
2
-
11
1
Papaya Global
(2016, $440M)
GCC Exchange The Mint Corporation
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Papaya Global (2016)
$250M - Series D - Sep 2021
Papaya Global (2016)
$100M - Series C - Mar 2021

16. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
stc pay (2018)
$200M - Series D - Nov 2020
MNT Halan (2017)
$120M - Series D - Aug 2021
Mamo Pay (2016)
$8.0M - Seed - May 2021
Ziina (2020)
$7.5M - Seed - Jun 2021
Hala (2018)
$6.5M - Series A - Mar 2021
telda (2019)
$5.0M - Seed - May 2021
Foloosi Technology (2018)
$2.0M - Seed - May 2021
View all 13 Funding Rounds on Tracxn Platform
Digital Wallets - MENA
08
16
Back to index
Payments (Riskified)
(# Cos: 486 | $1.8B)
Consumer Payments (Fawry)
(# Cos: 171 | $448M)
Wallets (Mamo Pay)
(# Cos: 91 | $352M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$349M (▲ >10K%)
13(▲550%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$352M
20
-
91
6
Mamo Pay
(2016, $9.5M)
telda
(2019, $5.0M)
stc pay
(2018, $200M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

17. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Cato Networks (2015)
$200M - Series F - Oct 2021
Cato Networks (2015)
$131M - Series E - Nov 2020
Secure Access Service Edge as a
convergence (SASE) - MENA
09
17
Back to index
Cybersecurity (Check Point Software)
(# Cos: 667 | $7.7B)
Network Security (SafeHouse)
(# Cos: 81 | $929M)
Secure Access Service Edge as a
convergence (SASE) (Perimeter 81)
(# Cos: 2 | $578M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$331M (▲152%)
2(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$578M
2
-
2
2
Perimeter 81
(2014, $65.0M)
Cato Networks
(2015, $513M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

18. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Gong (2015)
$250M - Series E - Jun 2021
Voice Analytics - MENA
10
18
Back to index
Speech and Voice Recognition (Vocalis Health)
(# Cos: 29 | $619M)
Applications (Voiceitt)
(# Cos: 25 | $617M)
Voice Analytics (Gong)
(# Cos: 3 | $584M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$250M (▼5.7%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$584M
2
-
3
1
Gong
(2015, $584M)
Nemesysco Voiceience
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

19. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Gong (2015)
$250M - Series E - Jun 2021
Revenue Forecasting - MENA
11
19
Back to index
Sales Force Automation (Metadata)
(# Cos: 238 | $756M)
Sales Analytics (Optimove)
(# Cos: 9 | $679M)
Revenue Forecasting (Gong)
(# Cos: 1 | $584M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$250M (▼5.7%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$584M
1
-
1
1
Gong
(2015, $584M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

20. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Facial Biometric Systems - MENA
12
20
Back to index
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$235M (▲447%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$352M
2
-
9
1
Security & Surveillance Technology (Airobotics)
(# Cos: 261 | $680M)
PIAM (FST Biometrics)
(# Cos: 49 | $385M)
Biometrics System (SecurAX)
(# Cos: 22 | $352M)
Facial Biometrics (AnyVision)
(# Cos: 9 | $352M)
AnyVision
(2015, $352M)
Realface Facetrom
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
AnyVision (2015)
$235M - Series C - Jul 2021

21. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Fabric (2015)
$200M - Series C - Oct 2021
Caja Robotics (2014)
$12.0M - Series B - Nov 2020
Warehouse Automation Robots - MENA
13
21
Back to index
Professional Service Robots (Ecoppia)
(# Cos: 95 | $671M)
Logistics (Caja Robotics)
(# Cos: 8 | $362M)
Warehouse Automation (Fabric)
(# Cos: 6 | $362M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$212M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$362M
5
-
6
2
Fabric
(2015, $336M)
Caja Robotics
(2014, $26.0M)
IQ Fulfilment
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

22. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
DriveNets (2015)
$208M - Series B - Jan 2021
Network Routing Software - MENA
14
22
Back to index
Enterprise Networking (Perimeter 81)
(# Cos: 54 | $1.5B)
Network Software (Exaware)
(# Cos: 4 | $605M)
Routing Software (DriveNets)
(# Cos: 1 | $325M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$208M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$325M
1
-
1
1
DriveNets
(2015, $325M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

23. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Grocery Store Robotic Fulfilment
Solutions - MENA
15
23
Back to index
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$200M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$336M
1
-
1
1
Online Grocery (Trigo)
(# Cos: 375 | $601M)
Technology Enablers (Weelo)
(# Cos: 25 | $372M)
Grocery Retailers (Shopic)
(# Cos: 25 | $372M)
Robotic Fulfilment (Fabric)
(# Cos: 1 | $336M)
Fabric
(2015, $336M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Fabric (2015)
$200M - Series C - Oct 2021

24. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Internet First Point of Sale Financing -
MENA
16
24
Back to index
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$199M (▲1962%)
5(▲66.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$209M
5
-
8
3
Alternative Lending (Souqalmal.com)
(# Cos: 138 | $1.1B)
Online Lenders (Fundbox)
(# Cos: 97 | $1.0B)
Consumer Loans (NowPay)
(# Cos: 41 | $227M)
Point of Sale Financing (Charge After)
(# Cos: 12 | $217M)
Direct Lender (Tabby)
(# Cos: 8 | $209M)
Tabby
(2019, $82.0M)
Tamara
(2012, $116M)
Postpay
(2019, $10.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Tamara (2012)
$110M - Series A - Apr 2021
Tabby (2019)
$50.0M - Series B - Aug 2021
Tabby (2019)
$23.0M - Series A - Dec 2020
Postpay (2019)
$10.0M - Series A - Jun 2021
Tamara (2012)
$6.0M - Seed - Jan 2021

25. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Upstream Security (2017)
$62.0M - Series C - Aug 2021
Upstream Security (2017)
$36.0M - Series C - May 2021
Sternum (2018)
$27.0M - Series B - Sep 2021
VDOO (2017)
$25.0M - Series B - Jan 2021
Securithings (2014)
$14.0M - Series A - Feb 2021
NanoLock Security (2016)
$11.0M - Series B - Jul 2021
IoT Security for Devices - MENA
17
25
Back to index
Internet of Things Infrastructure (Celeno)
(# Cos: 136 | $1.1B)
IoT Security (VDOO)
(# Cos: 42 | $478M)
Device Security (Upstream Security)
(# Cos: 26 | $389M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$175M (▲733%)
6( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$389M
18
-
26
10
Upstream Security
(2017, $139M)
VDOO
(2017, $70.0M)
GuardKnox
(2015, $24.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

26. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
StreamElements (2016)
$100M - Series B - Sep 2021
Overwolf (2009)
$52.5M - Series C - Mar 2021
Game Streaming Management Tools -
MENA
18
26
Back to index
Gaming Tech (Supersonic)
(# Cos: 83 | $237M)
Gamers Tools (StreamElements)
(# Cos: 4 | $187M)
Streaming Management (Overwolf)
(# Cos: 3 | $186M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$153M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$186M
3
-
3
2
Overwolf
(2009, $74.7M)
StreamElements
(2016, $111M)
PlayStream
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

27. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Lab Grown Meat Substitutes - MENA
19
27
Back to index
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$141M ( -- )
5( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$175M
4
1
4
2
Food Tech (Kitopi)
(# Cos: 496 | $1.1B)
Novel Foods (DouxMatok)
(# Cos: 32 | $309M)
Food Products (SuperMeat)
(# Cos: 22 | $244M)
Alternative Proteins (MeaTech)
(# Cos: 11 | $225M)
Meat Substitute (Future Meat
Technologies)
(# Cos: 10 | $217M)
Lab Grown (Aleph Farms)
(# Cos: 4 | $175M)
Aleph Farms
(2017, $118M)
Future Meat Technologies
(2018, $43.0M)
MeaTech
(2018, $9.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Aleph Farms (2017)
$105M - Series B - Jul 2021
Future Meat Technologies (2018)
$26.8M - Series B - Feb 2021
MeaTech (2018)
$7.0M - Series A - Nov 2020
SuperMeat (2015)
$2.0M - Seed - Dec 2020
Aleph Farms (2017)
Undisclosed - Series B - Sep 2021

28. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Bizzabo (2011)
$138M - Series E - Dec 2020
Business Events Management Software -
MENA
20
28
Back to index
Events Tech (Eventtus)
(# Cos: 133 | $242M)
Suite (Kidzapp)
(# Cos: 7 | $194M)
Business Events (Bizzabo)
(# Cos: 6 | $194M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$138M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$194M
1
-
6
1
Bizzabo
(2011, $194M)
MeetingHand EventAct
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

29. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Neural Processing Units - MENA
21
29
Back to index
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$136M (▲127%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$224M
1
-
1
1
Digital ICs (pliops)
(# Cos: 21 | $764M)
Microprocessors (EZChip)
(# Cos: 12 | $574M)
Artificial Intelligence and Machine
Learning (Brodmann17)
(# Cos: 4 | $370M)
Neural Processing Unit (Hailo)
(# Cos: 1 | $224M)
Hailo
(2017, $224M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Hailo (2017)
$136M - Series C - Jun 2021

30. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Residential Real Estate Listings - MENA
22
30
Back to index
Residential Real Estate Tech (Student.com)
(# Cos: 160 | $631M)
Listings (Property Finder)
(# Cos: 117 | $545M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$121M (▼21.4%)
5(▲25%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$545M
16
-
117
4
Property Finder
(2005, $140M)
Bayut.com Nomad Homes
(2019, $24.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
EMPG (2002)
$100M - Series E - Feb 2021
Nomad Homes (2019)
$20.0M - Series A - Sep 2021
Sakneen (2019)
$1.1M - Seed - Feb 2021
Isqan (2020)
Undisclosed - Angel - Jan 2021
Nawy (2004)
Undisclosed - Seed - Jul 2021

31. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Internet First Lenders - MENA
23
31
Back to index
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$120M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$120M
1
-
4
1
Alternative Lending (Souqalmal.com)
(# Cos: 138 | $1.1B)
Online Lenders (Fundbox)
(# Cos: 97 | $1.0B)
Diversified (Tarya)
(# Cos: 9 | $123M)
Direct Lender (MNT Halan)
(# Cos: 4 | $120M)
MNT Halan
(2017, $120M)
Spoon Nafex Loans
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
MNT Halan (2017)
$120M - Series D - Aug 2021

32. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
In-Memory Database - MENA
24
32
Back to index
Database Technology (Scylla)
(# Cos: 28 | $473M)
In-Memory Database (Redis Labs)
(# Cos: 2 | $348M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$110M (▲10%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$348M
2
-
2
1
Redis Labs
(2011, $347M)
Home SafePeak
(2007, $860K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Redis Labs (2011)
$110M - Series G - Apr 2021

33. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Optibus (2014)
$107M - Series C - Mar 2021
Smart Cities > Smart Mobility > Public Transport
Management - MENA
25
33
Back to index
Smart Cities (BreezoMeter)
(# Cos: 93 | $487M)
Smart Mobility (Moovit)
(# Cos: 33 | $350M)
Public Transport Management (Optibus)
(# Cos: 2 | $160M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$107M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$160M
1
-
2
1
Optibus
(2014, $160M)
CityGraph
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

34. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Public Transit Planning Software - MENA
26
34
Back to index
Smart Public Transport (Moovit)
(# Cos: 21 | $314M)
Operator Transit Planning (Optibus)
(# Cos: 2 | $160M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$107M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$160M
1
-
2
1
Optibus
(2014, $160M)
TTS
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Optibus (2014)
$107M - Series C - Mar 2021

35. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Commercial Real Estate Listings - MENA
27
35
Back to index
Commercial Real Estate Tech (Mindspace)
(# Cos: 143 | $1.1B)
Listings (Property Finder)
(# Cos: 64 | $520M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$100M (▼33.3%)
3(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$520M
10
-
64
3
Property Finder
(2005, $140M)
Bayut.com EMPG
(2002, $379M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
EMPG (2002)
$100M - Series E - Feb 2021
Isqan (2020)
Undisclosed - Angel - Jan 2021
Nawy (2004)
Undisclosed - Seed - Jul 2021

36. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Parcel Delivery Management - MENA
28
36
Back to index
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$100M (▲233%)
3(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$220M
7
-
41
2
Logistics Tech (Fabric)
(# Cos: 671 | $890M)
Parcel (Mrsool)
(# Cos: 227 | $253M)
Technology Enablers (Package)
(# Cos: 41 | $220M)
Delivery Management (Bringg)
(# Cos: 41 | $220M)
Bringg
(2013, $185M)
Package Lyve
(2015, $35.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Bringg (2013)
$100M - Series E - Jun 2021
Lyve (2015)
$35.0M - Series C - Mar 2021
Package (2016)
Undisclosed - Seed - Apr 2021

37. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Lightricks (2013)
$100M - Series D - Sep 2021
Photo Editing Apps - MENA
29
37
Back to index
Online Photos (Photomyne)
(# Cos: 126 | $365M)
Editing (Bazaart)
(# Cos: 31 | $346M)
Amateur (Lightricks)
(# Cos: 26 | $346M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$100M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$346M
8
-
26
1
Lightricks
(2013, $335M)
Bazaart
(2012, $25.0K)
PhotoMania
(2011, $1.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

38. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
StreamElements (2016)
$100M - Series B - Sep 2021
OTT Live Streaming Distribution
Solutions - MENA
30
38
Back to index
OTT Video (STARZ PLAY)
(# Cos: 155 | $527M)
Video Distribution (LiveU)
(# Cos: 19 | $178M)
Live Streaming (StreamElements)
(# Cos: 3 | $111M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$100M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$111M
2
-
3
1
StreamElements
(2016, $111M)
BeLive Studios Peerplug
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

39. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Ethernet Chips - MENA
31
39
Back to index
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$100M (▲25%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$284M
3
1
3
1
Analog and Mixed Signal ICs (Mobileye)
(# Cos: 50 | $1.9B)
Communication ICs (Celeno)
(# Cos: 23 | $1.1B)
Data Interface (Valens)
(# Cos: 4 | $451M)
Ethernet (Xsight Labs)
(# Cos: 3 | $284M)
Xsight Labs
(2017, $216M)
PowerDsine
(1994, $64.0M)
Tehuti Networks
(2003, $4.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Xsight Labs (2017)
$100M - Series D - Dec 2020

40. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Totango (2010)
$100M - Series D - Sep 2021
Customer Journey Management - MENA
32
40
Back to index
Customer Success Management (SundaySky)
(# Cos: 62 | $581M)
Customer Experience Management (AppsFlyer)
(# Cos: 9 | $449M)
Customer Journey Management
(Totango)
(# Cos: 2 | $149M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$100M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$149M
1
-
2
1
Totango
(2010, $149M)
CEMantica
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

41. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Upstream Security (2017)
$62.0M - Series C - Aug 2021
Upstream Security (2017)
$36.0M - Series C - May 2021
Automotive Cybersecurity - MENA
33
41
Back to index
Connected Vehicles (Argus Cyber Security)
(# Cos: 118 | $910M)
Safety and Security (Nexar)
(# Cos: 42 | $380M)
Cybersecurity (Upstream Security)
(# Cos: 14 | $217M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$98.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$217M
8
-
14
4
Upstream Security
(2017, $139M)
Argus Cyber Security
(2013, $30.0M)
GuardKnox
(2015, $24.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

42. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Memic Surgery (2013)
$96.0M - Series D - Apr 2021
Surgical Robots - MENA
34
42
Back to index
Professional Service Robots (Fabric)
(# Cos: 95 | $671M)
Healthcare (XACT Robotics)
(# Cos: 15 | $167M)
Surgery (Memic Surgery)
(# Cos: 11 | $167M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$96.0M (▲167%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$167M
8
1
11
1
Memic Surgery
(2013, $96.9M)
XACT Robotics
(2013, $55.0M)
MST
(2005, $13.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

43. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Tabby (2019)
$50.0M - Series B - Aug 2021
Tabby (2019)
$23.0M - Series A - Dec 2020
Jifiti (2011)
$22.5M - Series B - Aug 2021
E-Commerce POS Financing Solutions -
MENA
35
43
Back to index
E-Commerce Enablers (Namogoo)
(# Cos: 386 | $1.5B)
Payments (Riskified)
(# Cos: 23 | $374M)
Point of Sale Financing (Tabby)
(# Cos: 4 | $111M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$95.5M (▲961%)
3(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$111M
2
-
4
2
Tabby
(2019, $82.0M)
Jifiti
(2011, $29.3M)
Spotii
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

44. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Noname Security (2020)
$60.0M - Series B - Jun 2021
Noname Security (2020)
$25.0M - Series A - Dec 2020
L7 Defense (2015)
$5.0M - Series A - Jan 2021
API Security - MENA
36
44
Back to index
Cybersecurity (Check Point Software)
(# Cos: 667 | $7.7B)
Application Security (PerimeterX)
(# Cos: 34 | $399M)
API Security (Noname Security)
(# Cos: 9 | $94.4M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$90.0M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$94.4M
5
-
9
2
Noname Security
(2020, $85.0M)
L7 Defense
(2015, $5.3M)
imVision
(2014, $4.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

45. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
OurCrowd (2013)
$60.0M - Series C - Nov 2020
OurCrowd (2013)
$25.0M - Series C - Oct 2021
Equity Crowdfunding for Startups -
MENA
37
45
Back to index
Crowdfunding (Smart Crowd)
(# Cos: 102 | $215M)
Equity (Skyline)
(# Cos: 44 | $215M)
Startups (OurCrowd)
(# Cos: 20 | $192M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$85.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$192M
3
-
20
1
OurCrowd
(2013, $192M)
iAngels InvestiNation
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

46. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Optimove (2009)
$75.0M - Series B - Sep 2021
Affogata (2020)
$5.5M - Seed - Apr 2021
Consumer Insights - MENA
38
46
Back to index
MarketingTech (Wix)
(# Cos: 822 | $2.1B)
Marketing Research (Optimove)
(# Cos: 44 | $104M)
Consumer Insights (YouGov)
(# Cos: 16 | $101M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$80.5M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$101M
9
1
16
2
YouGov Optimove
(2009, $95.0M)
Affogata
(2020, $5.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

47. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
AIdoc (2016)
$66.0M - Series C - Jul 2021
DiA Imaging Analysis (2009)
$14.0M - Series B - Aug 2021
Intixel (2018)
Undisclosed - Seed - Aug 2021
Radiological Image Analysis Softwares -
MENA
39
47
Back to index
Clinical Labs IT (Ibex)
(# Cos: 57 | $454M)
Radiology (AIdoc)
(# Cos: 36 | $390M)
Image Analysis (Zebra Medical Vision)
(# Cos: 26 | $389M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$80.0M (▲300%)
3(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$389M
15
-
26
2
Zebra Medical Vision
(2014, $50.0M)
AIdoc
(2016, $140M)
DiA Imaging Analysis
(2009, $25.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

48. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Earnix (2001)
$75.0M - Series D - Feb 2021
KonnecTo (2015)
$3.5M - Seed - Nov 2020
Predictive Analytics - MENA
40
48
Back to index
MarketingTech (Wix)
(# Cos: 822 | $2.1B)
Marketing Intelligence (AppsFlyer)
(# Cos: 42 | $577M)
Predictive Analytics (Earnix)
(# Cos: 18 | $124M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$78.5M (▲1470%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$124M
9
-
18
2
Earnix
(2001, $97.5M)
Verix
(2003, $12.7M)
KonnecTo
(2015, $3.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

49. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Coralogix (2014)
$55.0M - Series C - Jul 2021
CYREBRO (2012)
$15.0M - Series B - Apr 2021
CardinalOps (2020)
$6.5M - Seed - Jan 2021
Security Incident and Event
Management (SIEM) - MENA
41
49
Back to index
Cybersecurity (Check Point Software)
(# Cos: 667 | $7.7B)
Security Analytics (Vulcan)
(# Cos: 58 | $731M)
SIEM (Coralogix)
(# Cos: 5 | $125M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$76.5M (▲119%)
3(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$125M
3
-
5
3
Coralogix
(2014, $96.2M)
CardinalOps
(2020, $6.5M)
CYREBRO
(2012, $22.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

50. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Explorium (2017)
$75.0M - Series C - May 2021
Fathom (2019)
Undisclosed - Seed - Oct 2021
Data Science Platforms - MENA
42
50
Back to index
AI Infrastructure (AnyVision)
(# Cos: 72 | $1.5B)
Machine Intelligence Systems (Explorium)
(# Cos: 24 | $607M)
Data Science Platforms (Sisense)
(# Cos: 8 | $476M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$75.0M (▼51.6%)
2(▼33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$476M
6
-
8
3
Sisense
(2004, $276M)
Explorium
(2017, $127M)
Iguazio
(2014, $72.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

51. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Customer Service Chatbots for Banking -
MENA
43
51
Back to index
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$75.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$93.3M
3
-
4
1
Customer Service Software (Gong)
(# Cos: 189 | $836M)
Help Desk (TechSee)
(# Cos: 110 | $156M)
Live Chat (Labiba)
(# Cos: 63 | $96.3M)
Virtual Agents (Mmuze)
(# Cos: 41 | $95.3M)
Banking (Personetics)
(# Cos: 4 | $93.3M)
Personetics
(2011, $93.0M)
FinCheck Qanta
(2016, $250K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Personetics (2011)
$75.0M - Series C - Feb 2021

52. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Personal Finance Management Solutions
- MENA
44
52
Back to index
Banking Tech (Earnix)
(# Cos: 184 | $482M)
Personal Finance Management (Personetics)
(# Cos: 6 | $93.0M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$75.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$93.0M
1
-
6
1
Personetics
(2011, $93.0M)
QiCard Wave
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Personetics (2011)
$75.0M - Series C - Feb 2021

53. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Earnix (2001)
$75.0M - Series D - Feb 2021
Marketing Analytics for Banks - MENA
45
53
Back to index
Banking Tech (Souqalmal.com)
(# Cos: 184 | $482M)
Marketing Solutions (CCM)
(# Cos: 2 | $97.5M)
Marketing Analytics (Earnix)
(# Cos: 1 | $97.5M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$75.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$97.5M
1
-
1
1
Earnix
(2001, $97.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

54. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
WhiteSource (2011)
$75.0M - Series D - Apr 2021
Software Licensing - MENA
46
54
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Application Development Tools (Wix)
(# Cos: 147 | $780M)
Code Management (EZSource)
(# Cos: 6 | $121M)
Software Licensing (WhiteSource)
(# Cos: 2 | $121M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$75.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$121M
1
-
2
1
WhiteSource
(2011, $121M)
TechoPhil
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

55. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Pure Harvest Smart Farms (2016)
$64.5M - Series B - Oct 2021
Pure Harvest Smart Farms (2016)
$10.0M - Series A - Jan 2021
Indoor Hydroponics Farming - MENA
47
55
Back to index
Crop Tech (SeeTree)
(# Cos: 381 | $1.1B)
Indoor Farming (Madar Farms)
(# Cos: 38 | $292M)
Hydroponics (Pure Harvest Smart Farms)
(# Cos: 28 | $272M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$74.5M (▲262%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$272M
5
1
28
1
Pure Harvest Smart Farms
(2016, $272M)
Madar Farms ESense-Lab
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

56. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
KAHR (2020)
$46.5M - Series C - May 2021
BioSight (2000)
$27.0M - Series C - Dec 2020
MyBiotics (2014)
Undisclosed - Seed - Feb 2021
Drugs for Multiple Cancer Types - MENA
48
56
Back to index
Oncology (INSIGHTEC)
(# Cos: 152 | $1.7B)
Drugs (UroGen Pharma)
(# Cos: 66 | $441M)
Diversified (RedHill Biopharma)
(# Cos: 57 | $339M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$73.5M (▼3.9%)
3( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$339M
35
3
57
2
RedHill Biopharma
(2009, $13.5M)
Compugen
(1993, $35.4M)
BioSight
(2000, $59.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

57. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Panorays (2014)
$42.0M - Series B - Sep 2021
Adaptive Shield (2019)
$30.0M - Series A - Oct 2021
Vulcan (2018)
$21.0M - Series B - Mar 2021
Cyber Risk Assessment - MENA
49
57
Back to index
Cybersecurity (Check Point Software)
(# Cos: 667 | $7.7B)
Security Analytics (Hunters)
(# Cos: 58 | $731M)
Cyber Risk & Vulnerability Assessment
(Vulcan)
(# Cos: 27 | $240M)
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$72.0M (▲100%)
3(▼25%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$240M
11
-
27
5
Vulcan
(2018, $35.0M)
Kovrr
(2016, $5.5M)
XM Cyber
(2016, $49.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

58. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
MENA Tech - Top Business Models Report
Recent Funding Rounds
Autonomous Store Platform - MENA
50
58
Back to index
Taxonomy
$ Invested in last 1 year in MENA Tech
Key Stats
# Funding Rounds in last 1 year in
MENA Tech
$70.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$104M
2
-
3
1
Autonomous Retail (Store Power)
(# Cos: 11 | $138M)
Physical Stores (Supersmart)
(# Cos: 11 | $138M)
Technology Enablers (Shopic)
(# Cos: 11 | $138M)
Autonomous Store Platform
(Trigo)
(# Cos: 3 | $104M)
Trigo
(2018, $104M)
WalkOut CYB-ORG Technologies
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Trigo (2018)
$60.0M - Series B - Dec 2020
Trigo (2018)
$10.0M - Series B - Jun 2021

59. MENA Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
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MENA Tech - Top Business Models Report
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