Publication Date: 03 April 2023
This report, issued by the Research Department of Teaser Platform, analyzes the venture capital investments for companies operating in the Healthtech sector in the Middle East and North African region in 2022.
Key Findings
- The HealthTech venture capital investments experienced a remarkable 48.84% YoY growth in disclosed funding value, recording USD 160.92 Million in 2022. Despite a slight decrease in the number of deals, from 36 in 2021 to 31 in 2022 (excluding grants, accelerators, and incubators rounds), the ecosystem still managed to surpass its previous year’s performance.
- During 2022, Q1 and Q2 formed 85% of total disclosed fundings adding up to USD 137.02 Million from 11 deals, collectively, beating the first half of 2021. Followed by a decrease in Q3 and Q4 total disclosed fundings and deals, recording USD 23.90 Million from 5 deals, underperforming the second half of 2021.
- Regionally, HealthTech startups in Egypt and UAE received the highest number of deals, 11 each. However, Lebanon-based startup; Proximie Limited led the way in disclosed fundings securing the largest disclosed deal value of the year with USD 80 Million in Series C investment round, representing 49.71% of the total disclosed fundings received in 2022.
- Out of the HealthTech startups that received funding in 2022, 42% were Telehealth, 19% Medical Software and Devices, 19% E-Pharmacy, 13% Mental Wellbeing, and lastly 6% Femtech.
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