February marked a groundbreaking month for MENA’s startup landscape, with an impressive $494 million raised across 58 deals—almost five times more than last year’s total for the same month. While Saudi Arabia dominated with $250.3 million accrued over 25 deals, the UAE and Egypt followed suit with $203.5 million and $27.5 million respectively.
Debt Financing Dips In February
Unlike January, where debt financing took the bulk of investments, February saw it drop to just 15% of total funding. The exclusion of debt reveals a staggering 371% increase in investment activity, highlighting a promising shift in financial dynamics.
Fintech emerged as the leading sector, delivering $274 million over 15 deals. Insurtech and logistics took the next spots, with $55 million and $28.5 million respectively. This upswing showcases both sustained interest and escalating financial backing for key tech industries.
Regional Contributions and Gender Disparities
B2B models attracted the most attention in February, garnering $191.6 million through 33 transactions. However, gender disparities remain, as startups led by male founders bagged 87% of the total investment. Despite the progress, this underlines the need for more equitable funding allocations.
On 6 May 2026, during the exclusive VIP Cocktail Event and Opening Ceremony of the Cyprus Diaspora Forum 2026, held at the elegant Amara Hotel, Cypriot designer Michalis Pantelidis will present his fashion showcase, Cypriot Silk Stories.
This evocative collection unfolds as a poetic tribute to Cyprus, expressed through silk. The presentation brings together key thematic explorations from his work—from the wastelands of Cyprus, where notions of value and beauty are redefined, to the underwater world of Larnaka, the Pierides Museum archives, collaborations with Nespresso Cyprus, and Tourkomahalas, a community-driven project developed with Larnaka 2030—forming a contemporary narrative of place. Each design captures a distinct fragment of Cyprus, reimagined through a modern lens.
The collection is presented through fluid silk scarves of varying dimensions alongside elegantly draped caftans, styled with understated Mediterranean sophistication. Designed to transition effortlessly—from business mornings to seaside afternoons, and from refined daytime gatherings to intimate evening occasions—the pieces embody versatility while maintaining a sense of quiet luxury.
Rooted in craftsmanship and emotion, Cypriot Silk Stories expresses a modern vision of timeless elegance—intentional, refined, and deeply connected to place. The presentation promises to be a defining moment of the evening, where heritage, artistry, and contemporary design come together in celebration of Cyprus and its global diaspora.
The show is realised with the valued support of Tsiakiris Silk House—where Pantelidis’ silk scarves are produced—alongside Larnaka Tourism Board, Larnaka 2030, Nespresso Cyprus, and Print Guru LTD, supporting the print installation of the presentation.
Creative direction is supported by leading industry collaborators: makeup by Valentino Nicolaou and his team at The Makeup Project by Valentino Nicolaou, hair by Christos Artemiou of Artemiou Hair Designs, and styling by Andronikos Orfanou. All garments are courtesy of ERA Department Store.
About Michalis Pantelidis
Michalis Pantelidis is a Cypriot textile designer working at the intersection of fashion, art, and cultural storytelling. His practice focuses on silk accessories that translate heritage, memory, and everyday observations into wearable pieces with emotional depth.
Founded in 2021, his studio began as a personal exploration of photography and textiles and has since evolved into a distinctive body of work rooted in craftsmanship, materiality, and narrative. Each creation is conceived as an object to be worn, cherished, and lived with.
Alongside his studio practice, he is a Fashion Design Lecturer at Alexander College, where he encourages students to explore identity, heritage, and contemporary making through design. In October 2025, he represented Cyprus at the European Parliament Sustainable Fashion Exhibition, showcasing Cypriot cultural narratives through contemporary textile design. His work has been presented through exhibitions and collaborations both in Cyprus and internationally.
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