Last week, there were 6 startup investments in the MENA between February 21 – 27:
Investments:
3 United Arab Emirates (UAE), 1 Kingdom of Saudi Arabia (KSA), 1 Qatar, 1 Bahrain
Sectors Received Investments:
2 Financial Services
1 SaaS
1 Cyber Security
1 Artificial Intelligence
1 Foodtech
News of the Week
🎯 Fintech startup Flow48 raised $69 million.
Flow48, which provides upfront financing to SMEs to facilitate their growth by transforming future revenues into upfront capital under flexible terms, has raised $69 million in Series A funding round, led by Breega. 212, Speedinvest, Daphni, Endeavor Catalyst, Evolution Ventures, Plus VC and other investors also participated in the investment round.
Transaction Type: Investment
Investors: Breega, 212, Speedinvest, Daphni, Endeavor Catalyst, Evolution Ventures, Plus VC, other investors
Co-founders: Idriss Al Rifai
Headquarters: United Arab Emirates (UAE)
🎯 SaaS provider Journify raised $4 million.
Journify, which allows its clients to unlock the full potential of their customer data, has raised $4 million. The investment round was led by Silicon Badia, with participation from RZM and other investors.
Transaction Type: Investment
Investors: Silicon Badia, RZM
Co-founders: Taoufik El Jamali, Amine Chouki
Headquarters: United Arab Emirates (UAE)
🎯 Cybersecurity startup CQR raised $3 million.
CQR, which provides businesses with AI-driven, product-based cybersecurity solutions, has raised $3 million from Shorooq Partners.
Transaction Type: Investment
Investors: Shorooq Partners
Co-founders: Naser Aldossary
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 AI-enabled healthtech Lillia raised $1.7 million.
Lillia, an ai-driven platform that empowers healthcare providers to efficiently manage chronic diseases through its innovative technology, has raised $1.7 million from Qatar Research, Development and Innovation (QRDI) Council.
Transaction Type: Investment
Investors: Qatar Research, Development and Innovation (QRDI) Council
Co-founders: Sujit Chakrabarty
Headquarters: Qatar
🎯 Cash flow management platform omnispay raised $1.5 million.
omnispay, which simplifies SME cash flow management through its all-in-one collect, pay, and borrow platform, has raised $1.5 million in Seed funding round from Mercatus Capital and other investors.
Transaction Type: Investment
Investors: Mercatus Capital, other investors
Co-founders: Simanta Das, Vimal Kumar, Praveen Kiran
Headquarters: United Arab Emirates (UAE)
🎯 Foodtech startup Lola raised $1.3 million.
Lola, which offers a customisable cake ordering service for customers in Bahrain and Saudi Arabia, has raised $1.3 million in pre-Seed funding round from Plus VC, Vision Ventures and angel investors.
Transaction Type: Investment
Investors: Plus VC, Vision Ventures, angel investors
Co-founders: Othman Janahi
Headquarters: Bahrain
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