Tech industry AI venture deals total $759.3m in Middle East

According to GlobalData's transactions database, $759,3 million in technology industry artificial intelligence venture financing deals were announced in the Middle East and Africa in Q2 2022, led by $142 million in venture financing of Coralogix.

The amount represented a decline of 14.1% from the previous quarter and an increase of 1.1% over the average of the previous four quarters, which was $751.33m.

In Q2 2022, the Middle East and Africa accounted for 6.27% of the $12.11 billion in venture capital deals for artificial intelligence in the worldwide technology sector. Israel ranked first in the Middle East and Africa for the value of artificial intelligence venture funding deals across the technology industry, with deals totaling $755.1 million and a 6.24% stake.

A total of 36 artificial intelligence deals were made in the Middle East and Africa during Q2 2022, a reduction of 14.29% from the previous quarter and an increase of 0.70% from the four-quarter average. 28 deals were made in Israel during the month.

In Q2 2022, the top five artificial intelligence venture funding deals represented 60.2% of the total value. Against a total value of $759.3 million for the quarter, the top five technology artificial intelligence venture capital agreements had a combined value of $457 million.

This research eliminates any cancelled and rumoured deals and only takes into account announced and completed artificial intelligence deals from the GlobalData financial deals database. According to the target firm's headquarters and dominating industry, country and industry are defined. Acquisitions include both closed transactions and those that are still in the bidding process.

GlobalData collects real-time information from tens of thousands of corporate websites and other trustworthy sources about all merger and acquisition, private equity/venture capital, and asset transaction activity occurring globally

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