MENA Startups Raise $258.5M in First Week of June 2026

The Middle East startup ecosystem continued its strong 2026 momentum with over $258.5 million in funding across three major deals in the first week of June, according to entArabi's weekly investment report. The UAE captured the largest share, followed by Egypt. The standout deal was CargoX, a UAE-based autonomous delivery platform, which raised $250 million led by BlueFive Capital. The funding will support expansion of autonomous logistics across the UAE and international markets, including vehicle technology development and infrastructure buildout. This represents one of the largest logistics tech rounds in MENA history and signals growing investor confidence in autonomous delivery for the region. Egypt also featured prominently. DAWAR, a digital platform for tracking recyclable materials, secured a six-figure funding round from GlobalCorp, Tawasoa, and the Commercial International Bank (CIBP). While smaller in absolute terms, this investment reflects growing interest in MENA's green economy and the regulatory push toward transparent supply chains for waste management. The third deal was SPARQ, a UAE-based AI-powered game engine developer, which raised $8.5 million in seed funding with early participation from Andreessen Horowitz's Scout Fund. After more than two years of self-funded development — including 3 million lines of C++ code and a team of 20+ engineers — SPARQ had attracted a waitlist of 6,000+ content creators before taking external capital. The UAE led MENA startup funding with $379 million in May 2026 alone, and the first week of June suggests this trajectory is accelerating. Saudi Arabia's planned 2,200 MW data center pipeline continues to attract infrastructure capital, while Egypt's startup ecosystem shows strength in fintech, agritech, and sustainability.