Last week, there were 4 startup investments in the MENA between March 21 – 27:
Investments:
2 United Arab Emirates (UAE), 1 Egypt, 1 Kingdom of Saudi Arabia (KSA)
Sectors Received Investments:
1 Healthcare
1 Mobile Payments
1 Analytics
1 Financial Services
News of the Week
🎯 AI-driven healthcare startup Valeo Health raised $12 million.
Valeo, a personalised, data-driven healthcare platform, has raised $12 million in Series B funding round in Series B funding round, led by Flintera. Nuwa Capital, FJ Labs, Oryx, Mindshift Capital, Oraseya and Eirad also participated in the investment round.
Transaction Type: Investment
Investors: Flintera, Nuwa Capital, FJ Labs, Oryx, Mindshift Capital, Oraseya, Eirad
Co-founders: Sundeep Sahni, Nadine Karadag, Ankur Majumder
Headquarters: United Arab Emirates (UAE)
🎯 Payment solutions provider enza raised $6.75 million.
enza, which allows banks and fintechs to provide locally relevant payment capabilities, including cards, wallets, and real-time payments, has raised $6.75 million in Seed funding round, co-led by Algebra Ventures and Quona Capital.
Transaction Type: Investment
Investors: Algebra Ventures, Quona Capital
Co-founders: Hany Fekry
Headquarters: Egypt
🎯 Fintech startup Nayla Finance raised $4 million.
Nayla, which offers small businesses microfinance solutions, has raised $4 million in Seed funding from Sanabil Venture Studio by Stryber.
Transaction Type: Investment
Investors: Sanabil Venture Studio by Stryber
Co-founders: Shaqran Alyahya, Khalid Naili
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 Data analytics and insights platform Lumi AI raised $3.7 million.
Lumi, which enables retail businesses to make use of generative AI models to digitise their supply chains, allowing them to generate custom reports and run statistical models using plain language, has raised $3.7 million Seed funding. The investment round was led by AgFunder, with participation from Forum Ventures, ADQ, Qora71 syndicate and angel investors.
Transaction Type: Investment
Investors: AgFunder, Forum Ventures, ADQ, Qora71 syndicate, angel investors
Co-founders: Ibrahim Ashqar, Tudor Boiangiu
Headquarters: United Arab Emirates (UAE)
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