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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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MENA Digest: UAE’s SaaS startup Seez leads funding activity this week

VCCircle

VCCircle · 11m ago

MENA Digest: UAE’s SaaS startup Seez leads funding activity this week

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.

MENA Digest: UAE’s WEE Marketplace raises $10 mn, three Egyptian startups secure funding

VCCircle

VCCircle · 1y ago

MENA Digest: UAE’s WEE Marketplace raises $10 mn, three Egyptian startups secure funding

Funding activity in the MENA region saw a boost this week, with UAE-based e-commerce startup WEE Marketplace securing $10 million in funding. Additionally, three Egyptian startups - Bokra, blueworks, and Waffarha - also secured funding. The investments highlight the growing interest in startups and emerging tech companies in the region.

MENA Digest: UAE’s Qeen AI, Egyptian firms Khazna and Simplex net big cheques

VCCircle

VCCircle · 6m ago

MENA Digest: UAE’s Qeen AI, Egyptian firms Khazna and Simplex net big cheques

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.

MENA Digest: Two startsups secure fat cheques

VCCircle

VCCircle · 1y ago

MENA Digest: Two startsups secure fat cheques

During the past week, two startups in the Middle East and North Africa (MENA) region received significant funding. UAE-based Web3 startup Sentient Labs, led by Sandeep Nailwal, and Oman-based Climatech startup 44.01 secured high double-digit investments to support their growth. Additionally, there were also two acquisitions reported in the region, one involving Majarra, a...

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

VCCircle

VCCircle · 6m 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.

MENA Digest: Egypt’s Mrkoon, UAE’s BILRS, FanTV secure funding

VCCircle

VCCircle · 5m ago

MENA Digest: Egypt’s Mrkoon, UAE’s BILRS, FanTV secure funding

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.

MENA Digest: Egyptian startups lead funding activity

VCCircle

VCCircle · 1y ago

MENA Digest: Egyptian startups lead funding activity

MENA Digest: Egyptian fintech startups Swypex and MNZL garnered the most funding in the region, amidst a slow week for deals. Both startups secured seed funding. Meanwhile, UAE-based Edtech startup SecureMyScholarship closed a bridge round. Overall, funding activity was relatively low in the MENA region during this period.

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

VCCircle

VCCircle · 2m 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: Pathfinder leads funding this week; Saudi’s OTO gets another VC onboard

VCCircle

VCCircle · 1y ago

MENA Digest: Pathfinder leads funding this week; Saudi’s OTO gets another VC onboard

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.

MENA Digest: Egypt's Nawy, Saudi startup WakeCap bag big Series A cheques

VCCircle

VCCircle · 3m ago

MENA Digest: Egypt's Nawy, Saudi startup WakeCap bag big Series A cheques

Nawy, an Egyptian proptech startup, raised $52 million in Series A funding led by Partech, alongside $23 million in debt financing, to enhance its tech stack and expand regionally. Saudi Arabian startup WakeCap secured $28 million in Series A funding for geographical expansion and to improve its construction site management technology. Additionally, Saudi Arabia-based Kilow and UAE-based AqlanX received seed investments to expand their healthtech and AI-driven business automation services, respectively, reflecting a vibrant funding scene in the MENA region.

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