Strategic Partnerships Propel Middle East and North Africa Startups
Startups across the Middle East and North Africa region are increasingly collaborating through strategic partnerships to enhance the entrepreneurial ecosystem. Ventures from various industries are forging alliances, signing agreements to bolster expansion, penetrate new markets, and enhance customer satisfaction initiatives.
Outlier Ventures and National Technology Development Program Join Forces in Saudi Arabia
At the forefront of these strategic partnerships, the Kingdom’s National Technology Development Program has joined forces with Outlier Ventures, a prominent global Web3 accelerator, to bolster the technology sector in Saudi Arabia. Under the memorandum of understanding, the Base Camp Web3 accelerator program aims to support and cultivate the growth of promising Web3 startups in the Kingdom. Participating startups will benefit from Outlier Ventures’ expertise, receiving guidance on product development, entity structuring, and token design from a team of in-house experts. Additionally, these startups will gain invaluable insights and networking opportunities through direct interactions with leading mentors and investors in the Web3 domain.
Inbox Business Expands into KSA with AstroLabs Partnership
Pakistan’s Inbox Business Technologies sealed a partnership with business facilitator AstroLabs to support the former in entering the Saudi market. This collaboration will establish Inbox Business Arabia, the company’s Saudi branch, to capitalize on the burgeoning digital sector, enabling a timely and strategic market expansion in the Kingdom.
True Gamers and Takefluence Launch Ambassador Program
True Gamers and Takefluence have partnered to unveil an ambassador program dedicated to the gaming community. This innovative initiative aims to empower gaming enthusiasts and content creators, providing them with a platform to express their creativity, engage with broader audiences, and convert their gaming passion into tangible opportunities.
Deliveroo UAE Teams Up with Kayali for Luxury Fragrances
Deliveroo UAE has forged a partnership with Kayali, the prestigious perfume brand created by beauty entrepreneur Mona Kattan. This collaboration marks a significant development in on-demand shopping, with Deliveroo being the exclusive aggregator to feature Kayali’s luxury fragrances on its new shopping vertical.
MBC Group Acquires Stake in Anghami
Saudi Arabian media giant MBC Group, via its MBC Ventures division, has acquired over 4 million ordinary shares in the Nasdaq-listed music streaming service Anghami. This purchase secures MBC Group a 13.7 percent ownership in Anghami and raises its stake’s value to $6.48 million from $4.074 million.
Speed Read
• Pakistan’s Inbox Business Technologies sealed a partnership with business facilitator AstroLabs to support the former in entering the Saudi market.
• True Gamers and Takefluence have partnered to unveil an ambassador program dedicated to the gaming community. This initiative aims to empower gaming enthusiasts and content creators.
• Deliveroo UAE has forged a partnership with Kayali, the prestigious perfume brand created by beauty entrepreneur Mona Kattan. This collaboration marks a significant development in on-demand shopping.
Ahlan App Secures Funding, Sprints.ai Raises $3m
Bahrain’s Ahlan App, a loyalty program and delivery service, has secured a $3 million investment at a $15 million valuation in a round led by Hope Ventures. Egypt-based edtech firm Sprints.ai has raised $3 million in a bridge round led by Disruptech Ventures, with contributions from EdVentures and Challenge Fund for Youth Employment, among others.