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Saudi Fintech Startup Takadao Raises Funds From Adaverse
Startup News FYI
·
1y ago
Medial
Saudi-based fintech startup Takadao has received an undisclosed investment from Adaverse, a Cardano ecosystem accelerator and seed fund. The funding will aid the launch of Takadao's product, Takasure, in June 2024. Takadao is a decentralized finance platform offering secure, community-driven financial solutions through blockchain technology. It provides products like Takaturn, a savings and yield generation platform, and Takasure, a cooperative life insurance DAO. Adaverse plans to invest $10 million in local Web3 startups this year.
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Related News
MENA Digest: UAE’s KLAIM, Turkish startup Buyutech, Saudi’s Ajras secure funding
VCCircle
·
4m ago
Medial
This week's funding activities in the Middle East and North Africa region were led by UAE's fintech KLAIM, which raised $10 million to expand its healthcare SME solutions. Turkish camera company Buyutech secured funds from Türkiye Development Fund for scaling, while Longevity Wellness Hub in the UAE and Saudi Arabian proptech startup Ajras also obtained financing for expansion. Additionally, Saudi e-commerce platform Aya and Moroccan superapp ORA Technologies raised funds to enhance market presence and accelerate growth.
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MENA Digest: UAE’s Flow48, Saudi Arabian CQR, Bahrain’s Lola get funding
VCCircle
·
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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BRKZ raises $8M to expand construction tech solutions across Saudi Arabia
IndianStartupNews
·
1y ago
Medial
Saudi Arabian construction technology startup BRKZ has secured $8m in a Series A funding round co-led by 9900 and BECO Capital. The firm aims to use the funds to expand its procurement solutions across Saudi Arabia and internationally, streamlining the construction industry's procurement processes. BRKZ's platform provides access to a wide range of suppliers and materials, offering tailored delivery and payment options. The investment will also be used to deepen market penetration, enhance product offerings, and extend the company's reach beyond Saudi Arabia.
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TVM Capital raises $250 mn for Saudi-focused healthcare fund
VCCircle
·
1y ago
Medial
Healthcare private equity firm TVM Capital Healthcare has raised approximately $250 million for its Afiyah Fund, which focuses on investing in Saudi Arabia's healthcare sector. The fund attracted investments from Saudi Arabian, Gulf Cooperation Council, and European investors, with Jada, Saudi Arabia's Public Investment Fund's (PIF) fund of funds company, leading the group. TVM Capital expects to mobilize a total of $400 million to $500 million for investments in Saudi Arabian and international companies with expansion projects in the kingdom. The fund's initial investments include Baraya Extended Care, a post-acute care and rehabilitation clinics chain in Riyadh, and DEBx Medical, an Amsterdam-based wound care company entering the Saudi market.
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MENA Digest: Deal activity picks up with two big Series A funding
VCCircle
·
11m ago
Medial
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.
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MENA Digest: BioSapien, Ebana, five others nab funding cheques
VCCircle
·
6m ago
Medial
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.
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QIA to invest $1B in international and regional venture capital funds
TechCrunch
·
1y ago
Medial
Qatar Investment Authority (QIA), the sovereign wealth fund, is launching a $1 billion venture capital fund of funds for international and regional venture capital funds. The initiative aims to attract VC funds and startups to Qatar and the wider Gulf Cooperation Council region, with a focus on fintech, edtech, and healthcare sectors. QIA plans to invest indirectly through other VC funds and make co-investments with participating funds. The fund aims to bridge the gap with neighboring countries like Saudi Arabia and the UAE and strengthen the startup ecosystem in Qatar.
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MENA Digest: Saudi, UAE and Qatari fintech startups lead funding activity
VCCircle
·
2m ago
Medial
Fintech startups in the Middle East and North Africa are experiencing significant funding activity, led by companies from Saudi Arabia, the UAE, and Qatar. Saudi Arabian platform Stitch raised $10 million for expansion, UAE fintech Qashio secured $19.8 million for Saudi Arabian entry, and Qatar’s PayLater received investment to enhance operations. Additionally, UAE's Gainz and Saudi's BirdEye also garnered funding for growth, reflecting a dynamic fintech landscape in the region.
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Lokalee, Maalexi get pre-Series A cheques; MEVP backs Clinicy
VCCircle
·
1y ago
Medial
Dealmaking in the MENA region picked up in the second week of 2024, with UAE-based Lokalee and Maalexi securing pre-Series A funding. Lokalee is a traveltech startup while Maalexi operates in the agri-fintech sector. Meanwhile, Saudi healthtech startup Clinicy received support from MEVP.
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MENA Digest: Saudi startups lead funding activities this week
VCCircle
·
11m ago
Medial
Saudi startups were the highlight of funding activities in the Middle East and North Africa this week. Fintech startup Yuze secured significant funding in a seed round, while Resal, a rewards solution platform, raised a Series A round. Additionally, foodtech startup Yalla Plus and loyalty platform aggregator Mithu also secured funding. These developments indicate the growing potential of the startup ecosystem in Saudi Arabia.
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