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MENA Digest: Saudi Arabia's Mush Social, UAE's Brand IO raise early-stage funds

VCCircle

VCCircle · 9m ago

This week in the MENA region, early-stage venture capital deals were prominent in startup investment activity. Saudi Arabian social media startup Mush Social and UAE-based branding startup Brand IO raised pre-seed and seed funding respectively. Proptech company Ayen based in Saudi Arabia also announced an acquisition.

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MENA Digest: Tabby, AppliedAI get big cheques; Saudi firms Salla, Mush Social ink M&As

VCCircle

VCCircle · 6m ago

MENA Digest: Tabby, AppliedAI get big cheques; Saudi firms Salla, Mush Social ink M&As

Saudi Arabian startups led early-stage funding in MENA, with Tabby becoming a top fintech firm by raising $3.3 billion in a Series E round. Other funded startups include Buildnow, AppliedAI, PIESHIP, RasMal, and Taager. Notable acquisitions saw Salla buying Sweply, rebranding it to 'Salla Ads', and Mush Social acquiring Pubbles. AppliedAI secured $55 million to expand its AI tools, while Buildnow and other startups aimed to use their funds for market expansion and developing new services.

MENA Digest: Rize, MoneyHash, Retailhub, Pluto, Ogram, others raise fund

VCCircle

VCCircle · 7m ago

MENA Digest: Rize, MoneyHash, Retailhub, Pluto, Ogram, others raise fund

The Middle East and North Africa (MENA) region witnessed significant funding activities, with several startups securing investment to boost growth and expansion. Notably, Saudi Arabia's Rize raised $35 million, whereas MoneyHash, a US-based Egyptian fintech, secured $5.2 million for market penetration. UAE's Retailhub and Pluto expanded their platforms with new funding, while Ogram and Sampo AI also raised finances. Saudi agritech Arable obtained $2.55 million. These investments aim to foster regional growth and technological advancements.

MENA Digest: Bahrain’s Sellou, Moroccan startup PayTic, others secure funding

VCCircle

VCCircle · 4m ago

MENA Digest: Bahrain’s Sellou, Moroccan startup PayTic, others secure funding

Early-stage startups in the Middle East and North Africa (MENA) region led fundraising activities recently. Notable companies include Moroccan fintech PayTic, securing $4 million for expansion in Africa, and Bahrain-based social commerce platform Sellou, raising seed funding for regional growth. Saudi AI startup STUCK? and UAE proptech Rentify also secured pre-seed investments. Additionally, Saudi B2B marketplace Sary merged with Bangladesh's ShopUp, forming SILQ Group and raising $110 million led by Sanabil Investments and Valar Ventures.

MENA Digest: BioSapien, Ebana, five others nab funding cheques

VCCircle

VCCircle · 7m ago

MENA Digest: BioSapien, Ebana, five others nab funding cheques

The Middle East and North Africa saw significant early-stage funding activity, with startups in UAE, Saudi Arabia, and Egypt securing investments. Key deals include Saudi fintech Ebana's $2.66M and UAE healthtech BioSapien's $7M funding. Egyptian logistics platform Fincart and Saudi edtech UpLevel also received funds, while Egyptian Dsquares acquired a stake in Prepit. Other notable fundraisers include UAE's Maalexi and Silkhaus, and Saudi services platform Nabeeh, all aiming to expand operations and enhance their offerings.

Orbit Startups and Sanabil Invest launch new accelerator for tech startups in MENA

YourStory

YourStory · 7m ago

Orbit Startups and Sanabil Invest launch new accelerator for tech startups in MENA

Orbit Startups and Sanabil Investments have launched the Sanabil Accelerator by Orbit to support early-stage startups in Saudi Arabia and the MENA region, focusing on fintech, healthcare, ecommerce, and mobility. The program offers $100,000 initial investment and emphasizes sales, marketing, and product development over four months. It aims to bridge innovation and economic growth, providing startups access to a network of mentors and investors, aligning with Saudi Arabia's vision for digital innovation.

MENA Digest: UAE’s Tarjama, Egyptian startup Sylndr, Cairo’s Thndr get funding

VCCircle

VCCircle · 3m ago

MENA Digest: UAE’s Tarjama, Egyptian startup Sylndr, Cairo’s Thndr get funding

Startup funding in the Middle East and North Africa (MENA) region featured significant investments in UAE's Tarjama, Egypt's Sylndr, and Cairo's Thndr. Tarjama, a language solutions company, raised $15 million for technological expansion and AI development. Sylndr, a used-car platform in Egypt, secured $15.7 million to enhance its fintech capabilities and expand operations. Thndr, an investment platform, also gained $15.7 million to grow regionally. Several other startups in Saudi Arabia, Kuwait, and more also received varying funding amounts.

MENA Digest: Fintechs lead fundraising this week; VC investment falls in August

VCCircle

VCCircle · 11m ago

MENA Digest: Fintechs lead fundraising this week; VC investment falls in August

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.

Saudi's SMASCO sets issue price for $240 mn IPO

VCCircle

VCCircle · 1y ago

Saudi's SMASCO sets issue price for $240 mn IPO

Saudi Arabian staffing company, SMASCO, has announced the final IPO price for its initial public offering on the Saudi Exchange. The company aims to raise up to $240 million by offering 120 million shares at a price of 7.50 riyals per share, representing a 30% stake. The individual investor subscription process will begin next week. This IPO is part of Saudi Arabia's efforts to deepen its capital markets and attract investment. However, the IPO market in the MENA region has experienced a slowdown this year, with IPO proceeds down 66% compared to the previous year.

MENA Digest: Deal activity picks up with two big Series A funding

VCCircle

VCCircle · 11m ago

MENA Digest: Deal activity picks up with two big Series A funding

Fintech startups in the Middle East and North Africa region saw increased deal activity, with UAE's Ziina and Saudi startup Malaa securing double-digit Series A funding. Other startups that received funding included Reachware, WattNow, Cercli, and a Saudi-based unicorn.

MENA Digest: UAE’s Wafeq, BioSapien get biggest funding cheques this week

VCCircle

VCCircle · 8m ago

MENA Digest: UAE’s Wafeq, BioSapien get biggest funding cheques this week

UAE-based startups, Wafeq and BioSapien, secured the largest funding amounts in the MENA region this week. Wafeq, an accounting platform for SMEs, raised $7.5 million in a Series A funding round led by 9900 Capital. BioSapien, a healthtech company developing a drug delivery platform to treat cancer, raised $5.5 million in a pre-Series A round led by Global Ventures. Other startups that raised funds include Saudi edtech platform AlGooru, Moroccan B2B marketplace Z, Saudi-based services platform Abikhdmn, UAE-based B2B autotech company BuyAnyAutoPart, and web 3.0 social network DeChat.

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