Total technology industry venture financing deals worth $375.2m were announced in Middle East and Africa in August 2021, led by $55m venture financing of Kuda Technologies, according to GlobalData’s deals database.

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The value marked a decrease of 62.4% over the previous month of $997.55m and a drop of 40.1% when compared with the last 12-month average of $626.06m.

Middle East and Africa held a 1.40% share of the global technology industry venture financing deal value that totalled $26.87bn in August 2021. With a 0.86% share and deals worth $229.83m, Israel was the top country in Middle East and Africa’s venture financing deal value across technology industry.

In terms of venture financing deal activity, Middle East and Africa recorded 53 deals during August 2021, marking a decrease of 5.36% over the previous month and a flat growth over the 12-month average. Israel recorded 21 deals during the month.

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Middle East and Africa technology industry venture financing deals in August 2021: Top deals

The top five technology industry venture financing deals accounted for 44.2% of the overall value during August 2021.

The combined value of the top five technology venture financing deals stood at $166m, against the overall value of $375.2m recorded for the month.

The top five technology industry venture financing deals of August 2021 tracked by GlobalData were:

1) SBI Investment,Target Global and Valar Ventures Management $55m venture financing deal with Kuda Technologies

2) The $30m venture financing of Buildots by Future Energy Ventures Management,Lightspeed Ventures,Ltd.,Tidhar Construction Group and TLV Partners

3) Bessemer Venture Partners,Blumberg Capital,M12,USVP ManagementLLC and YL Ventures GP $30m venture financing deal with Cyber Hunters

4) The $26m venture financing of Upstream Security by Delek Group,Glilot Capital Partners,IDI Insurance,La Maison Partners,Mitsui Sumitomo Insurance,Nationwide Mutual Capital,NextGen Mobility Fund,Salesforce Ventures and Volvo Group Venture Capital

5) Mizrahi-Tefahot Bank and Pitango Growth $25m venture financing deal with Localize.city