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MENA Digest: Saudi firm Tuba, Iraq’s IQ Cars, UAE’s Fuze secure funding
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3m ago
Medial
The MENA region saw a surge in dealmaking, with notable fundraises by iMENA Group, Fuze, and others. Saudi healthtech Tuba secured $8 million to enhance AI solutions for healthcare. Iraq’s iQ Cars raised a seven-figure seed round to expand its car marketplace. Fuze, a digital assets provider, secured $12.2 million for expansion. Other startups like erad, Darrbak, Techrar, and Zest Equity also raised funds to scale operations and develop new products.
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MENA Digest: UAE’s SaaS startup Seez leads funding activity this week
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10m ago
Medial
UAE-based automotive SaaS startup Seez has secured growth capital funding from international investors to support its geographical expansion plans. Additionally, Algerian ed-tech startup LabLabee and Saudi vacation property rental startup Darent have both secured seed funding. Seez's funding round leads the fundraising activity in the MENA region this week.
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MENA Digest: Saudi’s Al Menu leads funding activity; Global Ventures onboards new LP
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10m ago
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- 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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MENA Digest: UAE’s Wafeq, BioSapien get biggest funding cheques this week
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7m ago
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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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MENA Digest: UAE’s Tarjama, Egyptian startup Sylndr, Cairo’s Thndr get funding
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2m ago
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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.
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MENA Digest: UAE’s Qeen AI, Egyptian firms Khazna and Simplex net big cheques
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6m ago
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UAE-based AI startup Qeen AI secured one of the largest seed investments in the MENA region, raising $10 million. Egyptian fintech Khazna obtained pre-Series B funding to support expansion, while CNC machine manufacturer Simplex gained $13 million to expand operations. Wealth management platform Myne raised $2 million. Additionally, Lendo, a Saudi debt crowdfunding marketplace, acquired a $690 million facility to enhance lending and SME coverage, marking notable funding activities across the region.
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MENA Digest: Egypt’s Mrkoon, UAE’s BILRS, FanTV secure funding
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5m ago
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Funding activity in the Middle East and North Africa (MENA) region recently slowed due to Ramadan, but several startups still secured early-stage funding. Egyptian platform Mrkoon got bridge funding for regional expansion, while UAE’s BILRS and FanTV secured funding for technological growth and AI enhancement, respectively. Additionally, UAE’s Talabat Holding acquired Instashop for $32 million to boost its regional grocery and retail offerings. MENA startups saw significant funding growth in February with $494 million raised across 58 deals.
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MENA Digest: UAE’s Flow48, Saudi Arabian CQR, Bahrain’s Lola get funding
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5m ago
Medial
Several Middle Eastern startups have received funding to support their growth. UAE's Flow48, a fintech startup, raised $69 million to expand its financial services in Saudi Arabia and the UAE. Saudi Arabian cybersecurity firm CQR secured $3 million to enhance its AI capabilities. UAE-based SaaS provider Journify obtained $4 million for growth, and Omnispay, a fintech startup, raised $1.5 million. In Bahrain, foodtech startup Lola received $1.3 million to expand in Saudi Arabia and the Gulf region.
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MENA Digest: Pathfinder leads funding this week; Saudi’s OTO gets another VC onboard
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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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MENA Digest: WheeKeep, Airwater, Lune raise funding; Beco Capital gets an exit
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1y ago
Medial
During the week, several UAE and Saudi Arabia-based tech startups raised funding. Saudi logistics startup WheeKeep secured $8 million in Series A funding, UAE-based data analytics startup Lune raised $1.5 million in a seed round, proptech portal Property Finder raised $90 million in debt financing, electronics marketplace Revent secured $900,000 in pre-seed funding, and air-to-water technology company Airwater raised funding from Tau Capital. Additionally, investment firm Golden Gate Ventures launched a $100 million MENA fund, and Egypt-based firm Glint closed the first round of its $3 million venture fund.
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MENA Digest: Saudi firm CoreVision buys VeFund; MoneyHash, Hayi get funding
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1y ago
Medial
Saudi firm CoreVision made headlines in the MENA region as it acquired startup investment facilitator VeFund. Fintech platform MoneyHash secured $4.5 million in seed funding, while UAE-based social platform Hayi raised an undisclosed amount of funding. Other startups that received funding include travel tech platform The Digital Hotelier, AI tech company Camb AI, proptech platform Rize, and cloud kitchen startup The Cloud. Additionally, Dubai-based COTU Ventures closed its debut investment vehicle, raising $54 million to support startups in the region. Overall, it was an active week in terms of funding and investments in the MENA tech ecosystem.
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