By Hetarth Patel, VP – MENA and managing director – UAE, WebEngage
The money-burning, valuation-chasing startups have woken up to the harsh realities of a funding winter in the last few months. The “stagflation” dilemma — a recession-inflation situation — has prompted VCs to apply a firm brake on their beneficiaries’ spending spree. Even the MENA startup ecosystem is no exception to this global phenomenon, with the total funding raised in September 2022 pegged at about $173m(1) — an almost 50 per cent drop compared to the same period the year before. Distancing themselves from capital-consumptive, fast-growing startups, VCs are rallying behind profitable ones that give thei
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