Startups in the Middle East and North Africa Thrive with Surge in Funding During Ramadan
Despite the typically slower business pace during the holy month of Ramadan, startups across the Middle East and North Africa experienced a surge in funding, indicating robust activity and investor confidence.
Saudi Venture Capital Co. Invests $30 Million in Olive Rock Partners Fund I
Saudi Venture Capital Co. announced a $30 million investment in Olive Rock Partners Fund I, aligning with its strategy to develop and sustain financing for startups and small and medium-sized enterprises in strategic sectors.
Mitgo Group Expands Portfolio with Acquisition of UAE’s Embedded
Germany-based marketing technology provider Mitgo Group has acquired UAE-based finance platform Embedded, aiming to enhance its service offerings in the affiliate market and provide innovative financial services directly embedded into platforms.
UAE’s Traveltech Seeru Raises Pre-Seed Round
UAE-based traveltech startup Seeru has raised a pre-seed funding round led by US-based venture studio Nabtah Ventures to streamline the travel planning process and enhance the travel experience for stakeholders.
Kuwait’s Mojo Secures Seven-Figure Seed Round
Kuwait-based social commerce platform Mojo has secured a seven-figure seed investment to enhance its technology stack, attract talent, and expand market presence, particularly in Saudi Arabia.
Saudi-based Grintafy Receives Investment from Chiliz
Saudi Arabia-based sportstech Grintafy has received an investment from Chiliz to accelerate the adoption of web3 technologies and expand its reach in the international sports arena, revolutionizing football talent discovery.
Egypt’s 30Med Secures Pre-Seed Round
Egypt-based healthtech startup 30Med has raised pre-seed funding to connect pharmaceutical companies with medical professionals through an innovative platform, bridging the gap between the two sectors.
Morocco’s ORA Technologies Secures $1.5m in Seed Round
Morocco-based ORA Technologies has secured $1.5 million in seed funding to drive the growth of its superapp, integrating various features and partnering with M2T for the launch of its digital wallet.