Regional Startup Scene Booming with Acquisitions and Funding Rounds
The regional startup scene has been buzzing with activity in recent weeks, with a focus on climate technology, artificial intelligence, and Web3. Several companies have made headlines with acquisitions and funding rounds, showcasing the growing interest in innovative technologies.
Wa’ed Ventures Leads $6.5M Funding Round for aiXplain
Saudi Arabia’s venture capital firm Wa’ed Ventures, a $500-million Aramco subsidiary, has taken the lead in a $6.5 million pre-series A funding round for California-based AI platform aiXplain. With backing from US-based firms like Transform VC and Calibrate VC, aiXplain has raised a total of $16.5 million to date, aiming for a global rollout of AI solutions.
44.01 Secures $37M in Series A Funding for Climate Tech
Oman-based climate technology startup 44.01 has closed a $37 million series A funding round, led by Equinor Ventures and other investors. Founded in 2020, 44.01 specializes in eliminating carbon dioxide by converting it into rock, with plans to expand its deployment internationally.
Sentient Labs Raises $85M in Seed Investment for Web3 Focus
UAE-based Web3-focused startup Sentient Labs has secured an $85 million seed investment round co-led by Pantera Capital and Framework Ventures. Founded in 2024, Sentient Labs aims to democratize AI development for the benefit of humanity as a whole.
Muller & Phipps Acquires Power League Gaming
Regional technology distribution house Muller & Phipps Middle East Group has acquired UAE-based gaming and esports agency Power League Gaming, marking a strategic move to scale operations in Dubai and expand into Saudi Arabia. The acquisition will see Muller & Phipps invest in growing the gaming sector in the region.
Tokinvest Raises $500K in Pre-Seed Funding for Asset Tokenization
UAE-based tokenization platform Tokinvest has raised $500,000 in pre-seed funding to enhance its technological infrastructure and expand its market presence. Founded in 2024, Tokinvest aims to connect real-world asset issuers with global investors through virtual tokens.
Swyt Concludes Seed Funding Round for IT Solutions
UAE-based IT solutions provider Swyt has completed an undisclosed seed funding round to support its mission of simplifying and securing IT operations for businesses in the Gulf region.
Dopay Closes $13.5M Series A Extension Round for Fintech Innovation
Egypt-headquartered fintech Dopay has secured a $13.5 million series A extension round to fuel its growth and launch new financial services. Dopay’s virtual banking platform digitizes cash payments from employers to workers, with plans to expand in Egypt and beyond.
Majarra Acquires NLP Technology Provider Lableb for Arabic Digital Innovation
UAE-based Arabic digital content provider Majarra has acquired natural language processing technology provider Lableb to enhance its offerings in the rapidly expanding AI sector. The acquisition aims to drive innovation and deliver value to online businesses and customers in the Arabic digital space.