#74 This week In MENA's Startup Scene!
Dive into the latest Startup News, Trends & Opportunities shaping the MENA region
Welcome back, MENA founders!
We’ve rounded up all the latest from the MENA startup scene, including fresh funding rounds, main startup news and key ecosystem updates
Let’s get into it!
Fundraising Roulette
Huspy (UAE/PropTech) secured a $59M Series B round to fuel its expansion into Europe and KSA
icogz (UAE/AI) secured a $1.4M pre-seed round to scale Aryabot, its AI-powered platform for business intelligence and strategic decision-making
Xpanceo (UAE/Wearables) secured up to $250M to develop its graphene-based smart contact lenses
Rekaz (KSA/SaaS) raised $5M seed round to digitize service-based businesses across MENA, scale operations, and product development
Biosapien (KSA/HealthTech) extended its pre-Series A round to $8M to push into precision medicine and oncology diagnostics
Termez Capital (KSA) received a strategic investment from stc’s Tali Ventures to expand its AI-driven debt platform and alternative credit infrastructure in the Kingdom
Neo Space Group (KSA) acquired UP42 from Airbus to expand its geospatial data capabilities and strengthen Saudi’s growing space economy
Nawy (Egypt) acquired a majority stake in UAE’s SmartCrowd to enter the GCC market and expand fractional property investment services across the region
Main Headlines
Jahez (KSA) acquired a majority stake in Qatar’s Snoonu for $245M, marking one of the region’s largest food delivery acquisitions and accelerating Jahez’s cross-border expansion
SAB Invest (KSA) planning a SAR 1B capital increase to expand support for Saudi SMEs and enhance its investment capabilities across key economic sectors
BlueFive Capital (MENA) closed its founding round, bringing total assets to $120M to back emerging GPs and provide capital solutions to next-gen fund managers across MENA and Europe
Stride Ventures (India/UAE) launched a new venture debt fund in Abu Dhabi to back growth-stage startups across the GCC
Al Fardan Ventures and BipTap (UAE) partnered to establish a new digital bank in Abu Dhabi, providing inclusive financial services to underserved segments and SMEs
Investcorp (Bahrain) launched a new tech-focused private equity fund to invest in growth-stage Italian companies
Ecosystem Updates
Saudi’s Tourism Development Fund launched three new programs to support tourism startups across the Kingdom with funding, training, and partnership opportunities
E3.Ventures (KSA) launched the AI Launchpad Accelerator, targeting early-stage tech founders building generative AI and frontier-tech startups in the Kingdom
Oman launched a Space Accelerators Program to back local startups building advanced technologies for satellite systems, communication, and exploration
Jordan’s Najahna Program awarded grants to 20 winning startups from its recent national hackathon
Bahrain’s Mumtalakat and Tamkeen named Procural and Parcel as Startups of the Year
Oman launched the third edition of its Future Entrepreneurs Camp, engaging 92 students in entrepreneurial skills development and innovation training
Startups Highlights
Careem (UAE) launching its new List-to-Cart feature, streamlining grocery shopping through smart automation across its app
1001 (Iraq) partnered with Wide Net to expand its premium Arabic content library
Valu (Egypt) received initial approval to launch BNPL services in Jordan
Pay10 secured a Payment Service Provider license from Bahrain’s Central Bank to scale its fintech operations
Tahoun Legal Consulting (Egypt) launched Tahoun Smart, a digital platform offering automated legal services and real-time client interaction tools tailored for startups and SMEs
Techy Bytes
UAE announced an AI-focused 3-year planning cycle aligned with the We the UAE 2031 Vision, aiming to accelerate national AI integration across sectors
G42 (UAE) launched the world’s first generative AI cycling helmet, combining real-time coaching and safety features to enhance athletic performance
ADQ (UAE) launched a corporate AI innovation program to embed AI across its portfolio companies and drive enterprise digital transformation
Royal Oman Police began deploying a smart traffic monitoring system in Muscat, using AI and predictive analytics to enhance road safety and traffic management
Egypt launched the second edition of its Cybersecurity Academy, targeting the training of 5,000 students and youth in cybersecurity fundamentals and digital safety
Lebanon launched the No Filter campaign, a national initiative to combat disinformation and promote media literacy
Google Pay launched in Oman and Lebanon, enabling seamless mobile transactions across new MENA markets
AWS announced the upcoming launch of an AI agent marketplace
That’s a wrap for this week!
We hope this week's digest of the latest funding, insights, and ecosystem news helps you stay ahead in the fast-paced MENA region.
Stay tuned for more insights next week