#25 This Week In MENAA's Startup Scene🚀
Dive into the latest Startup News, Trends & Opportunities shaping the MENA region
Hello and welcome to this week’s roundup of the MENA startup world.
We’ve got the latest on investments, cool events, and tech news just for you.
Here’s What’s Trending This Week:
Weekly Funding Roundup
In The News
Ecosystem Updates
Startups Highlights
Upcoming Programs
Cool Events
Interesting Stuff
Techy Bytes
Let’s get started!
Weekly Funding Roundup
Pathfinder (UAE/RetailTech) secured a $325M round, positioning the company for a significant growth phase ahead of its planned Nasdaq debut, aiming to expand its innovative retail solutions
Mamo (UAE/Fintech) secured $3.4M to expand its financial technology services across the region, enhancing digital payment solutions
Watermelon Ecosystem (UAE/FoodTech) raised $4M to enhance its food technology ecosystem, focusing on innovative solutions for food distribution and sustainability
Verbatica (UAE/EdTech) secured $700K to further develop its educational platform, aiming to provide advanced learning tools and resources
Shurooq Partners (UAE) led a $1.5M round in Zyp Technologies, focusing on expanding the e-commerce marketplace into new regions
Crowd Analyzer (UAE/Analytics) was acquired by Saudi investors, enhancing the capabilities and market reach of this data analytics firm
Wa’ed Ventures (KSA) invested $15M in Rebellions (KSA/Generative AI), supporting the expansion of AI technologies within the region
OTO (KSA/Logistics) raised $8M in a Series A funding round, aimed at expanding its logistics and last-mile delivery services across the region
Kemitt (Egypt/Marketplace) raised an undisclosed funding round to support its expansion into new markets, particularly in the Saudi Arabian furniture e-commerce sector
In The News
The Jordanian Entrepreneurship Fund has invested $2 million in the Oasis500 Fund, aiming to boost startup growth and innovation in Jordan's entrepreneurial ecosystem
Trade between the UAE and China is projected to reach $200 billion by 2030, highlighting the growing economic ties and mutual investments between the two nations
Dubai has launched a comprehensive Dhs105 million plan to enhance mental health services, aiming to improve community well-being and support mental health initiatives across the emirate
Dubai Islamic Bank (DIB) led a $3.2 billion financing deal for GEMS Education, underscoring the bank's significant role in supporting the education sector in the UAE
Mubadala Capital has acquired a majority stake in the baby buggy brand Bugaboo, expanding its portfolio in consumer goods and demonstrating continued investment in global brands
Al-Takamul Group has acquired a 15% stake in Nabataty, a KSA-based online store specializing in plants and gardening products, reflecting increased interest in sustainable and eco-friendly ventures in the region
Ecosystem Updates
Berytech (Lebanon) has successfully wrapped up batch 2 of its REAF program, focusing on renewable energy and sustainability. Concurrently, batch 6 of its Agrytech program visited the Netherlands, exploring international opportunities for Agritech startups
Playbook (Bahrain) was recognized by Forbes for its pioneering efforts in promoting women's leadership in technology, highlighting its role in empowering female tech entrepreneurs
MBZUAI (UAE) has launched a six-day executive AI program, designed to enhance executive understanding and strategic application of artificial intelligence in business
Open Innovation AI (UAE) partnered with AMD to advance AI and GPU orchestration technologies, aiming to enhance computational capabilities and innovation in AI
Falak Investment Hub (KSA) has joined the United Nations Global Compact (UNGC) and launched a ClimateTech Accelerator, focusing on supporting startups with sustainable technologies
Flat6Labs and Shell are relaunching the Intilaaqah program in Egypt, aimed at nurturing entrepreneurial skills and supporting startups in the energy sector
Banknbox (Egypt) and CSC Jordan have partnered to promote financial inclusion and fintech innovation, leveraging technology to expand access to financial services across the region
Startup Highlights
Careem Pay (UAE) expanded its remittance services to the Philippines, broadening its financial service offerings and facilitating easier money transfers for its users
Astra Tech's fintech arm, Quantix, received a full CB UAE Finance Company License, becoming the first fintech to achieve this milestone, which allows it to offer a wider range of financial services under regulatory oversight
SerVme (UAE/SaaS) partnered with myFatoorah (Kuwait/SaaS) to enhance digital payment solutions across the Middle East, aiming to streamline payment processes for businesses and consumers alike
Aura (UAE/Fintech) partnered with Reem Finance (UAE/Fintech) to improve cash flow solutions for SMEs, focusing on providing more accessible financial services to small and medium-sized enterprises
Paymob (Egypt/Fintech) has partnered with Homegrown Ventures to boost e-commerce capabilities for FMCG startups, aiming to enhance the digital infrastructure and market reach for fast-moving consumer goods companies
Upcoming Programs & Opportunities
Palestine Launchpad Program by SPARK | Palestine
This initiative, co-designed with Google and Udacity, aims to empower Palestinian youth with digital skills through fully funded scholarships. The program includes Nanodegrees in web development, AI engineering, and data analysis, combined with mentorship and career workshops. It targets 3,500 graduates from the West Bank, Gaza, and East Jerusalem by 2026, providing pathways to employment in tech sectors
Sprout Program by INJAZ Lebanon | Lebanon
Designed to cultivate entrepreneurship among youth, this program provides training and resources to help young innovators develop their business ideas, emphasizing practical skills and real-world applications
Energy & Sustainability Accelerator by Startupbootcamp | Saudi Arabia
This accelerator focuses on startups in the energy and sustainability sectors, offering them mentorship, networking opportunities, and access to potential investors. The program aims to foster innovative solutions that address environmental challenges
Heya Raeda Program by TIEC | Egypt
Aimed at female entrepreneurs, this program provides training, mentorship, and support to women in tech and entrepreneurship, helping them overcome barriers and succeed in the industry
Plug and Play Cairo Program | Egypt
This equity-free program offers Egyptian startups access to a global network of mentors, corporate partners, and investors, providing a platform for scaling and expanding their businesses internationally
Fashion Tech Factory Incubation Program by 1KUB | Tunisia
This incubation program supports fashion-tech startups, providing them with resources and guidance to innovate in the fashion industry through technology and sustainable practices
AI Xelerate Bootcamp by AB Xelerate | MENA
This bootcamp focuses on accelerating AI startups in the MENA region. It offers an intensive training program designed to enhance participants' skills in AI development and implementation
Climate Tech Accelerator Program by Brinc | Virtual
This virtual accelerator program is dedicated to startups focusing on climate technology solutions. It offers a comprehensive package including funding, mentorship, and access to a global network of experts and investors
Must Attend Events This Week
Tunisian Startup Ecosystem Panel | 30 July, Virtual
A virtual discussion on trends and opportunities in Tunisia's startup ecosystem, ideal for networking and gaining industry insights
Circular Economy Problem-Solving Workshop | 30 July, Ramallah
A workshop addressing sustainable business practices in the circular economy, featuring collaborative problem-solving sessions
The $100M Problem | 30 July, Riyadh
Focuses on strategies for scaling businesses to significant milestones, ideal for entrepreneurs and investors
Product/Market Fit vs Product/Go-to-Market Fit Masterclass | 31 July, Ramallah
A masterclass on aligning product development with market needs and distribution strategies
To Raise or not to Raise? | 31 July, Dubai
An event discussing the pros and cons of raising capital and exploring alternative funding options
Market Research Workshop | 01 August, Basra
Focuses on equipping entrepreneurs with market research skills to validate business ideas
From Digital to Dollars: Accelerating Your Business's Journey to Success | 01 August, Dubai
This workshop offers practical advice on accelerating business growth through digital strategies, focusing on converting online presence into financial success
Emirates Entrepreneurship Association Networking Event | 01 August, Dubai
A networking event organized by the Emirates Entrepreneurship Association for entrepreneurs, investors, and business leaders to connect and discuss emerging opportunities in the region
Founders Live Cairo | 03 August, Cairo
Features startup pitches and networking opportunities, highlighting Cairo's innovation scene
Matchmaking, Development, and Networking Event | 03 August, Mersin
Designed for expanding business networks and exploring partnerships through matchmaking sessions
Interesting Stuff
Karim Beguir, co-founder of InstaDeep, has launched a project aimed at training 10,000 Tunisian youth in artificial intelligence (AI) skills, focusing on building a strong foundation in AI to support the country's digital transformation
An exploration into the impact of Tunisia’s Startup Act reveals significant contributions to fostering a supportive ecosystem for startups, including legal and financial incentives that have boosted entrepreneurial activities
The UAE's initiative to provide interest-free loans aims to stimulate growth in key sectors such as healthcare, technology, and renewable energy, enhancing economic diversification and innovation
Dubai’s Sustainable City is deploying next-generation autonomous delivery robots, showcasing the city's commitment to integrating smart technology for improved urban living and sustainability
Saudi Arabia is emerging as a leader in the global EV revolution, investing heavily in electric vehicle infrastructure and innovation, which aligns with the country's Vision 2030 goals for sustainable development
The Middle East is experiencing a surge in AI innovation, driven by investments in technology, education, and infrastructure that are positioning the region as a significant player in the AI landscape
The open immigration policies in the MENA region are contributing to economic growth by attracting talent, fostering innovation, and enhancing cultural diversity, which is crucial for building resilient and dynamic economies
Techy Bytes
Telegram plans to launch its own app store, coinciding with its user base reaching 950 million. This move aims to expand Telegram's ecosystem by providing users with more app options directly within the platform
Meta has released its largest open AI model, LLaMA 3.1, in collaboration with NVIDIA, marking a significant advancement in AI capabilities. Additionally, Meta has rolled out new AI tools on Instagram to combat online threats and enhance user safety
Alphabet is set to invest an additional $5 billion into its autonomous vehicle subsidiary, Waymo. This investment underscores Alphabet's commitment to advancing self-driving technology and expanding Waymo's operations
Google has enhanced its Play Store with new AI-powered features aimed at improving user experience and app discovery.Additionally, Google has upgraded its Gemini chatbot, making it faster and expanding its availability across more platforms
Adobe has released new AI tools for its Illustrator and Photoshop software. These tools, part of the Firefly suite, are designed to enhance creativity and productivity, providing users with advanced features for digital design and editing
That’s a wrap!
Thanks for joining us on this week’s journey through the MENA startup ecosystem.
Stay tuned for more opportunities, trends, and insights next week.
Until next time,
The Startup3lMashi ستارتب على الماشي Team
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