Led by $142m venture financing of Coralogix, total technology industry artificial intelligence venture financing deals worth $759.3m were announced in Middle East and Africa in Q2 2022, according to GlobalData’s deals database.

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The value marked a decrease of 14.1% over the previous quarter and a rise of 1.1% when compared with the last four-quarter average of $751.33m.

Middle East and Africa held a 6.27% share of the global technology industry artificial intelligence venture financing deal value that totalled $12.11bn in Q2 2022. With a 6.24% share and deals worth $755.1m, Israel was the top country in Middle East and Africa’s artificial intelligence venture financing deal value across technology industry.

In terms of deal activity, Middle East and Africa recorded 36 artificial intelligence deals during Q2 2022, marking a decrease of 14.29% over the previous quarter and a rise of 0.70% over the last four-quarter average. Israel recorded 28 deals during the month.

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Middle East and Africa technology industry artificial intelligence venture financing deals in Q2 2022: Top deals

The top five artificial intelligence venture financing deals accounted for 60.2% of the overall value during Q2 2022.

The combined value of the top five technology artificial intelligence venture financing deals stood at $457m, against the overall value of $759.3m recorded for the quarter.

The top five technology artificial intelligence deals of Q2 2022 tracked by GlobalData were:

1) Advent International, Brighton Park Capital, Greenfield Partners, Joule Ventures, Maor Investments, O.G. Tech Ventures, Red Dot Capital Partners, REVAIA and StageOne Ventures $142m venture financing deal with Coralogix

2) The $100m venture financing of Optibus by Bessemer Venture Partners, BlueRed Partners, Insight Partners, Pitango First, Pitango Growth, State of Mind Ventures, Tencent Holdings and Verizon Ventures

3) ACCEL, Eight Roads Ventures,Intel Capital and Lumira Capital Investment Management $90m venture financing deal with Workey Employees Recruitments

4) The $65m venture financing of Silverfort by Aspect Ventures, Citi Ventures, General Motors Ventures, Greenfield Partners, Maor Investments, Singtel Innov8 Ventures, StageOne Ventures and Vintage Investment Partners

5) Future Energy Ventures Management, Lightspeed Venture Partners – US, Maor Investments, O.G. Tech Ventures, TLV Partners and Viola Growth $60m venture financing deal with Buildots