The ‘funding winter’ appears to have hit investments in the UAE’s startup ecosystem, with a new report stating that the country’s tech space witnessed a decline of 65% in capital inflows in 2023, compared to the previous year.
The Tracxn ‘Geo Annual Report: UAE Tech 2023’ stated funding in tech startups dipped to $638 million in 2023, a significant drop compared to $1.83 billion raised in the same period in 2022, making 2023 the least funded year since 2020.
According to findings…
