Last 2 weeks, there were 2 investments and 1 secondary transaction in the MENA between 24 March – 6 April:
Investments:
1 Kingdom of Suadi Arabia (KSA)
Acquisitions:
1 United Arab Emirates (UAE)
Bonus:
2 Egypt-based investor financed startups in other regions.
1 KSA-based investor acquired stake in a CA-based startup.
Sectors Received Investments:
1 Foodtech
1 Last Mile
1 E-commerce
News of the Week
🎯 Food delivery platform Tkyr raised funding.
Tkyr, a digital delivery platform for food delivery, received an investment of $4 million in pre-Series A funding round from Food Square, Etihad AlKhaledia, Haif and Mateen.
Transaction Type: Investment
Investment Amount: $4.000.000
Investors: Food Square, Etihad AlKhaledia, Haif, Mateen
Co-founders: Khaled Al-Qariwi
Country: KSA
🎯 Last mile delivery platform Fez Delivery raised funding.
Fez Delivery, a last mile delivery platform that provides logistic services to businesses and individuals across 36 Nigerian states, has raised $1 million in Seed funding round led by Ventures Platform. Egypt-based VC firm Acasia Ventures has also participated in the investment round.
Transaction Type: Investment
Investment Amount: $1.000.000
Investors: Ventures Platform, Acasia Ventures
Co-founders: Seun Alley, Femi Jose
Country: Nigeria
🎯 Sustainable fashion startup Swaplanet raised funding.
Swaplanet, which allows parents to swap clothes their kids no longer need, for ones they do, has raised $529.000 in pre-Seed funding round from Acasia Angels, Genesis Ventures, Zeno Capital and Hellenic Business Angels Network.
Transaction Type: Investment
Investment Amount: $529.000
Investors: Acasia Angels, Genesis Ventures, Zeno Capital, Hellenic Business Angels Network
Co-founders: Sherif Barakat, Helena Stamou, Jimmy Nicolaides
Country: Greece
🛒 Shaker Group acquires stake in Cashew.
UAE-based fintech Cashew has raised an undisclosed investment from Saudi company Shaker Group, for a 10% stake.
Transaction Type: Acquisition
Investors: Shaker Group
Co-founders: Ammar Afif, Ibtissam Ouassif
Country: United Arab Emirates (UAE)
🛒 Savvy Games acquires Scopely.
KSA-based gaming platform Savvy Games Group has acquired California-headquartered game developer and publisher, Scopely for $4.9 billion.
Transaction Type: Acquisition
Investors: Savvy Games Group
Co-founders: Ankur Bulsara, Eric Futoran, Eytan Elbaz, Walter Driver
Country: United States (USA)
Other News:
📌 Saudi Arabia-based human resources and employee experience platform palm.hr is expanding regionally, with plans to open offices in Egypt and UAE.
📌 The investment arm of King Saud University “Riyadh Valley Company (RVC)” has invested an undisclosed amount in STV’s VC fund Total Growth Platform.
📌 Saudi Arabia-based media group SRMG has launched a new VC arm to back early-stage companies that focus on media creation, digital media, media enablers and tools.
📌 Gulf Ventures Capital, a Bahrain-based subsidiary of Gulf Islamic Investments, has launched a new business creation platform called “Green Corp” to initiate and develop sustainable agricultural, aquaculture, food processing and production projects across the GCC countries.
📌 Egypt-based Camel Ventures has launched a new $16 million fund to support Egypt’s fintech startup ecosystem, by providing them with both equity investments for early-stage startups, as well as venture debt for later-stage startups.
📌 Digital pharmaceutical platform Chefaa has collaborated with Baheya Hospital to support the breast cancer treatment hospital through various tech-enabled patient-centric services.
📌 GEMS World Academy has launched the first school-based accelerator programme, the Youth Entrepreneurship Accelerator, sponsored by CAFU.
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