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European VC SpeedInvest to expand into MENA by opening office in UAE
VCCircle
·
1y ago
Medial
European venture capital fund, SpeedInvest, is expanding its presence in the Middle East and Africa (MENA) region by opening an office in the United Arab Emirates (UAE). SpeedInvest manages $1 billion in assets across 40 countries and the new UAE office will be its fifth, and first outside of Europe. The move aims to further strengthen the fund's reach and connections within the MENA startup ecosystem.
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Palestinian VC Ibtikar Fund may get European LP for second fund
VCCircle
·
1y ago
Medial
The Palestinian venture capital firm, Ibtikar Fund, is seeking a European institutional investor for its second investment fund. As the only VC firm in Palestine, Ibtikar Fund supports early-stage startups founded by Palestinians in the MENA region. The firm is looking to expand its reach and further support tech-focused entrepreneurship in the area.
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MENA Digest: Kema, Logidoo raise early-stage capital, Sowt acquires Rising Giants Network
VCCircle
·
1y ago
Medial
Kema, a UAE-based fintech platform, has raised $2 million in pre-seed funding to launch its SaaS platform and expand across the country. The funding round was led by Speedinvest and included participation from Dubai Future District Fund (DFDF). Meanwhile, Moroccan logistics solutions provider, Logidoo, secured $1.55 million in seed funding from African venture capital firms to scale its operations. Additionally, Sowt, an Arabic audio content production platform, has acquired UAE-based podcast producer Rising Giants Network, expanding its reach and product portfolio.
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100Unicorns targets $200M fund as it eyes MENA investment opportunities
YourStory
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8m ago
Medial
Early-stage VC fund 100Unicorns has opened its first international office in Abu Dhabi. The office will act as a gateway to the MENA region, creating a curated cross-border corridor between India and the UAE for startup investments. The fund, formerly known as 9Unicorns, aims to develop 100 high-potential startups into billion-dollar companies within a decade. Since its launch in 2020, it has funded 145 startups, including Shiprocket and Zypp Electric, and helped six reach valuations over $200m and 30 exceed $50m in three years.
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MENA Digest: Pathfinder leads funding this week; Saudi’s OTO gets another VC onboard
VCCircle
·
1y ago
Medial
Pathfinder, a UAE retail technology solutions provider, secured funding from private equity firm Silver Rock Group. Meanwhile, Saudi logistics technology platform OTO raised its Series A funding. Other venture capital deals were also made in the MENA region this week.
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UAE-based Tumodo bags $35M in pre-seed funding from angel investors
Startup News FYI
·
1y ago
Medial
UAE-based business travel platform Tumodo has raised $35 million in a pre-seed round led by MENA-focused angel investors. The funding will be used to enhance its presence in the UAE, facilitate product development, and create new partnerships in the MENA region. Tumodo aims to make the MENA business travel market technologically advanced and reduce costs for clients by 35% on average. The platform offers quick bookings, transparency, cost management, and an AI feature for trip organization. Tumodo plans to become the leading business travel platform in the region.
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MENA Digest: Connect Money leads fundraising; Smpl Holdings sets up VC fund
VCCircle
·
1y ago
Medial
Egyptian fintech startup Connect Money raised $8 million in seed funding, leading fundraising activities in the MENA region. Other startups that secured funding include UAE-based B2B payments platform Comfi and Iraq-based food delivery app Alsaree3. Additionally, Smpl Holdings established a venture capital fund.
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Lazard boosts UAE footprint with financial advisory office in Abu Dhabi
VCCircle
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3m ago
Medial
Lazard is expanding its presence in the United Arab Emirates by opening a financial advisory office in Abu Dhabi, which will function as its main advisory hub. The move aligns with the strategic importance and growth opportunities within the UAE. Hussain Altajir, formerly of HSBC, has been appointed CEO of Lazard Financial Advisory in the UAE. This expansion follows a trend of global banks establishing bases in the region to connect with wealthy and institutional investors.
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MENA Digest: Saudi’s Al Menu leads funding activity; Global Ventures onboards new LP
VCCircle
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10m ago
Medial
- Saudi Arabian foodtech SaaS firm Al Menu leads startup funding activities in MENA region with a double-digit investment. - UAE-based podcast distribution platform Podeo raises growth capital to expand its geographical footprint. - Several startups secure funding in the MENA region, contributing to the growing startup ecosystem. - Al Menu's funding highlights the potential of the foodtech industry in the region. - Podeo's funding reflects the increasing popularity and demand for podcasts in the Middle East and North Africa. - The MENA region continues to attract investment, fostering innovation and entrepreneurship.
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Egyptian startup OneOrder, Saudi SaaS firm Merit lead funding
VCCircle
·
1y ago
Medial
In MENA news, Egyptian logistics company OneOrder raised $16 million in a Series A funding round led by Delivery Hero Ventures to expand into the Gulf Cooperation Council region. Saudi Arabian SaaS firm Merit secured $12 million in pre-Series B funding to scale operations. Proptech startup Keyper raised $34 million in a mix of equity and Sukuk financing for its rent-now-pay-later platform. Saudi Arabian proptech Birdnest secured pre-Series A funding, while UAE-based proptech Huspy raised fresh investment to build a super-app for real estate.
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MENA Digest: Fintechs lead fundraising this week; VC investment falls in August
VCCircle
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10m ago
Medial
Fintech startups dominated venture capital fundraising in the MENA region this week, with Egyptian digital payments provider Paymob and UAE-based fintech FlapKap securing funding. However, VC investment in startups fell by 76% in August compared to July, with $83 million raised across 30 deals. Paymob raised $22 million in a Series B extension round, while FlapKap raised $34 million in pre-Series A funding. Other startups receiving funding included cloud kitchen IO Kitchens in Oman and proptech startup HissaTech in Saudi Arabia.
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