Middle East Startups on the Rise: Funding and Expansion
The Middle East region is experiencing a surge in startup activity, with entrepreneurs securing funding across various sectors. Investment pools have been established, with Qatari and Emirati venture capitals looking to boost the ecosystem.
Stake Raises $14 Million to Enter Saudi Market
Regional startups are targeting the growing Saudi market, with UAE-based proptech firm Stake raising $14 million in a series A funding round to expand into the Kingdom. The round was led by Middle East Venture Partners, with participation from Aramco’s Wa’ed Ventures, Mubadala, and Republic.
Saudi edtech Tahdir Secures $270k in Pre-Seed Round
Saudi-based edtech Tahdir has closed a pre-seed funding round of $270,000 from angel investors. The platform automates school and educational management processes, serving 92 schools with over 30,000 users.
Egypt-based i‘SUPPLY Raises Pre-Series A Round
Egyptian medtech startup i‘SUPPLY has secured a pre-series A round, bringing its total funding to $2.5 million. Founded in 2022, the company aims to digitize the pharmaceutical business and overcome supply chain disruptions.
Egyptian Fintech Sahl Raises $6m in Series A Round
Cairo-based fintech Sahl has raised $6 million in an investment round led by Ayady for Investment and Development. The funds will help refine and develop Sahl’s offerings and expand its services to Saudi Arabia.
UAE’s Qstay Raises $4.6m in Pre-Series A Round
UAE-based hospitality platform Qstay has raised $4.6 million in a pre-series A funding round. The company operates as a virtual hotel brand with 200 units, providing app-based access to nearby amenities for guests.
UAE-based Polynome Group Announces $100m Fund for AI Startups
UAE-based event management company Polynome Group has launched a $100 million fund to invest in artificial intelligence startups. The fund will target technology, AI software applications, and robotics startups.
UAE-based ConTech Tenderd Secures $30m in Series A Funding
Construction technology firm Tenderd has closed a $30 million series A funding round to increase asset utilization and reduce emissions. The capital will support technological innovations and global expansion efforts.
Qatar-based Rasmal Ventures Launches First Home-Grown Fund
Qatar-based VC firm Rasmal Ventures LLC has launched its first home-grown fund to drive innovation and investment in Qatar and the MENA region. The Rasmal Innovation Fund I LLC targets high-performance startups in various sectors.
Kuwait-based Travel Tech Waves Secures Investment Round
Kuwait-based travel tech startup Waves has closed an investment round co-led by BNK Capital and Aujan Enterprises. The funds will be used to enhance Waves’ services in Saudi Arabia.
E-commerce Platform Orisdi Raises Six-Figure Bridge Round
Iraq-based e-commerce platform Orisdi has raised a six-figure bridge round of investment to support business development efforts and highlight the potential of the e-commerce sector in Iraq.