#80 This week In MENA's Startup Scene!
Dive into the latest Startup News, Trends & Opportunities shaping the MENA region
Welcome back to MENA Startup Digest!
We are bringing you the latest round-up of startup news, updates, and opportunities in the MENA region.
Fundraising Roulette
Gathern (KSA/Hospitality) closed a $72M Series B round at a valuation of over $266M to be used for regional and global expansion
Jahez (KSA/On-demand services) secured a $40M Shariah-compliant facility to finance the capital expenditures for its new headquarters in Riyadh
Zetta Technologies (KSA/DaaS) closed a $12M funding round for its Device as a Service (DaaS) platform to support its expansion plans within the Saudi market
Fahy (KSA/Gaming) secured $1.75M to develop and release high-quality mobile games for a worldwide audience
Starvania Studios (KSA/Gaming) secured a $1.1M investment to enhance its production capabilities and support the development of games for PC and home consoles
Zaher AI (Egypt/AI) secured $150K in funding and joined Meska Venture Studio to pioneer Generative Engine Optimization (GEO) for the Arabic-speaking market
Exel by Merak Accelerator (KSA) invested $5.1M in 17 gaming startups from its first cohort, with each company receiving $300,000
Falak Angels Network (KSA) announced a pre-seed investment in fintech platform Blomal to enhance the digital infrastructure of the investment sector in the Kingdom
CE-Ventures (UAE-based) joined a $100M round for US nuclear tech firm Aalo Atomics to support the development of modular nuclear reactors for AI-optimized data centers
Main Headlines
Impact46 (KSA) acquired gaming studio Kammelna in a deal valued at over $53 million, marking the largest investment in the venture capital firm's history
Meska AI (Egypt) launched Meska Ventures, a new investment arm aimed at creating a Y Combinator-style ecosystem in the region by providing capital, experience, and support to foster the growth of AI startups
ASB Capital (UAE) launched a Global Technology Fund in partnership with BlueBox Asset Management, providing Sharia-compliant investment opportunities in listed technology companies worldwide
Uncovered Fund and Monex Ventures (Japan) launched a $20 million fund to invest in early-stage startups across Africa and the Middle East, focusing on sectors like fintech, mobility, and sustainability
Saudi Arabia and Syria established a joint investment fund to support high-impact development projects in both countries, as part of a broader effort to strengthen economic ties
Emirates Institute of Finance launched a collaborative AI initiative with leading banks and tech firms to explore and develop practical AI applications for the financial services sector
Ecosystem Updates
Presight (UAE) launched its inaugural AI-Startup Accelerator Bootcamp in Abu Dhabi, selecting 10 startups to develop and scale practical AI solutions
Khalifa Fund (UAE) concluded its Future Entrepreneur Programme for youth aged 6-18, providing innovation and financial skills training to over 1,000 applicants
StartUp Bahrain announced the winners of its 18th Pitch Competition, with AI-powered smart order management app Tammam taking first place
Housing Bank empowered 25 youth with disabilities through a specialized entrepreneurship training course In Jordan
Saudi Ministry of Industry signed an agreement with the Saudi Innovation Club to support innovators and entrepreneurs in the industrial and mining sectors
Young Entrepreneurs Club concluded its Summer Innovation Camp In Qatar, empowering 70 young entrepreneurs with intensive training and workshops
Export Bahrain partnered with AstroLabs to help Bahrain-based SMEs expand their operations into Saudi Arabia and the UAE
Athar Accelerator concluded its University Program, awarding EGP 150K to three winning student teams to bolster the innovation ecosystem within Egyptian universities
Benha National University (Egypt) launched Innovation Week and the Inoventre Gateway platform to connect innovative ideas with real-world opportunities
Open For Application
Jordan X 2080 Global Scaling Program | Jordan
A 12-week accelerator designed to provide intensive, hands-on support for Jordanian startups ready to scale globally
Nawah Pre-Accelerator Program | Palestine
A four-month program designed to equip Palestinian entrepreneurs with the resources, mentorship, and support needed to advance their tech startups from the idea stage to MVP
The Sharks Global Investor Program | Palestine
A three-week program designed to connect Palestinian tech startups with global investors and growth opportunities
OPEN START Program | Pan-African
An open-innovation program that connects African startups with real-world challenges from the financial sector to co-develop Proofs of Concept (PoCs) with leading banks in Africa
Falak Investment Hub Accelerator | Saudi Arabia
A program for university students, alumni, and faculty members to support early-stage technology projects
AI for Good Sandbox | UAE
A four-week AI Builder Challenge for innovators across the MENA region to create open-source AI solutions for health and social equity issues
SHIFT Program | Pan-Regional
Seedstars has launched the SHIFT program to scale growth-stage fintechs in Asia, MENA, or Sub-Saharan Africa that are developing or scaling gender-inclusive financial solutions
AmadTech Accelerator | Saudi Arabia
A three-month program aimed at early-stage FinTech startups, providing an initial investment of 600,000 SAR and mentorship
Techy Bytes
Morocco unveiled its Digital Morocco 2030 strategy, an ambitious plan to accelerate the country's digital transformation by modernizing public services and fostering a vibrant digital economy
Arabic.AI (MENA) launched AI Academy, the first dedicated hub for Arabic-language AI education and enterprise upskilling in the Middle East
UAE Ministry of Education deployed 1,000 trained teachers to implement the world's first nationwide mandatory AI curriculum in government schools
Saudi Ministry of Hajj and Umrah launched the Nusuk Umrah digital platform, allowing international pilgrims to directly apply for Umrah visas and book their entire trips online
UAE unveiled Latifa, the nation's first AI-powered virtual family member, to engage the public on topics like technology and digital services in a relatable way
RTA deployed an autonomous AI robot to patrol the Dubai Metro, improving security and operational efficiency by autonomously monitoring for issues such as abandoned luggage and vandalism
First Iraqi Bank launched the nation's first App-in-App project, the foundational step toward creating Iraq's first-ever Super App
Iraq to launch new AI colleges at major universities to develop a specialized generation of graduates in AI and data science
Meta signed a six-year, $10B+ cloud deal with Google to power its AI ambitions, utilizing Google Cloud's infrastructure to support its AI development
Meta partnered with Midjourney to license its advanced AI image and video generation technology
Google rolled out its AI Mode search experience across the MENA region, allowing users to search using text, voice, or images
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