Last week, there were 8 startup investments in the MENA between July 2 – 10:
Investments:
4 Kingdom of Saudi Arabia (KSA), 3 United Arab Emirates (UAE), 1 Iraq
Sectors Received Investments:
1 Delivery
1 PropTech
1 Freight Service
1 Financial Services
1 Healthcare
1 Software
1 Professional Training & Coaching
1 Analytics
News of the Week
🎯 Quick-commerce platform Ninja raised $250 million.
Ninja, a quick-commerce (q-commerce) service that delivers groceries and daily essentials across Saudi Arabia, Bahrain, Qatar, and Kuwait, has raised $250 million in a funding round led by Riyad Capital, reaching a $1.5B valuation and achieving unicorn status.
Transaction Type: Investment
Investors: Riyad Capital
Co-founders: Saud Al Qahtani, Canberk Donmez
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 Proptech startup Huspy raised $59 million.
Huspy, which provides access to mortgage products and properties by leveraging technology to simplify decision-making and transactions, has raised $59 million in Series B funding, led by Balderton Capital and Peak XV. ExBorder Partners, Turmeric Capital, BY Ventures, Dara Management and KE Partners also participated in the investment round.
Transaction Type: Investment
Investors: Balderton Capital, Peak XV, ExBorder Partners, Turmeric Capital, BY Ventures, Dara Management, KE Partners
Co-founders: Jad Antoun, Khalid Ashmawy
Headquarters: United Arab Emirates (UAE)
🎯 Digital freight network TruKKer raised $15 million.
TruKKer, which operates across 9 countries and connects 60,000+ transporters with 1,200+ enterprise clients through a real-time, AI-enabled freight marketplace, has raised $15 million in private credit investment from Ruya Partners.
Transaction Type: Investment
Investors: Ruya Partners
Co-founders: Gaurav Biswas
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 Digital bank InstaBank raised $15 million.
InstaBank, which aims to transform Iraq’s underserved financial sector through AI-powered solutions and customer-first design, with a focus on financial inclusion and scalable service, has raised $15 million from EQIQ.
Transaction Type: Investment
Investors: EQIQ
Co-founders: Hussain Qaragholi
Headquarters: Iraq
🎯 Healthtech startup BioSapien raised $8 million.
BioSapien, which offers a flagship product, MediChip™, which is a drug delivery, 3D-printed, slow-release delivery platform attachable to any tissue with minimal systemic side effects, has raised $8 million in pre-Series A funding round from Globivest, Global Ventures, Golden Gate Ventures and Dara Holdings.
Transaction Type: Investment
Investors: Globivest, Global Ventures, Golden Gate Ventures, Dara Holdings
Co-founders: Khatija Ali
Headquarters: United Arab Emirates (UAE)
🎯 Software platform Rekaz raised $5 million.
Rekaz, which provides system to automate recurring payments, enhance online presence, improve customer relationships and boost sales, has raised $5 million in Seed funding round from COTU Ventures, Impact46, Shorooq Partners, Numrah Capital and angel investors.
Transaction Type: Investment
Investors: COTU Ventures, Impact46, Shorooq, Numrah Capital, angel investors
Co-founders: Abdulrahman Alomran, Abdulaziz Alkharashi
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 Career mentorship platform Flawless raised $1.5 million.
Flawless, which uses generative AI and social psychology to offer personalised career guidance, has raised $1.5 million in pre-Seed funding round from undisclosed angel investors.
Transaction Type: Investment
Investors: Angel investors
Co-founders: Shaimaa Alghamdi
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 Business intelligence platform icogz raised $1.4 million.
icogz, which helps businesses analyze data, spot patterns, and run diagnostics through its proprietary AI engine, Aryabot™, has raised $1.4 million in pre-Seed funding round from angel investors and syndicates.
Transaction Type: Investment
Investors: Angel investors, syndicates
Co-founders: Amit Tripathi
Headquarters: United Arab Emirates (UAE)
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