Last week, there were 5 startup investments in the MENA between March 7 – 13:
Investments:
2 Kingdom of Saudi Arabia (KSA), 1 United Arab Emirates (UAE), 1 Morocco, 1 Kuwait
Sectors Received Investments:
1 Financial Services
1 FinTech & Food Delivery
1 E-Commerce
1 Proptech
1 Automotive
News of the Week
🎯 Medical claim management and financing platform KLAIM raised $26 million.
Klaim, an insuretech platform offering a SaaS medical claim management and financing platform all in one, has raised $26 million in Series A equity funding round from Mad’a Investments, CDG Invest and Tharawat Tuwaiq Financial Company.
Transaction Type: Investment
Investors: Mad’a Investments, CDG Invest, Tharawat Tuwaiq Financial Company
Co-founders: Karim Dakki, Ghafoor Ahmad
Headquarters: United Arab Emirates (UAE)
🎯 Superapp ORA Technologies raised $1.9 million.
ORA Technologies, which offers multiple features, including P2P transactions, an e-commerce platform, on-demand services, chat functionality, social networking, and a digital wallet to be launched soon, has raised $1.9 million in pre-Series A funding round, led by Witamax and Azur Innovation Fund.
Transaction Type: Investment
Investors: Witamax, Azur Innovation Fund
Co-founders: Omar Alami
Headquarters: Morocco
🎯 E-commerce platform Aya raised $1.6 million.
Aya, which forecasts fashion trends and links local producers with current demand to ensure the manufacturing of only the most popular styles, has raised $1.6 million in Seed funding round led by Khwarizmi Ventures. Raed Ventures, Joa Capital, FENA Holdings, Turki Alrajhi and angel investors.
Transaction Type: Investment
Investors: Khwarizmi Ventures, Raed Ventures, Joa Capital, FENA Holdings, Turki Alrajhi, angel investors
Co-founders: Munira Al Kadi, Abdulrahman Al Ammar
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 Proptech startup Ajras raised $1.5 million.
Ajras, which provides unique financing solutions to facilitate rent payments, has raised $1.5 million in pre-Series A funding round from Veda Holding.
Transaction Type: Investment
Investors: Veda Holding
Co-founders: Muath Aljubailan
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 Autotech startup Motery raised funding.
Motery, which simplifies the car-buying journey by providing customers with the ability to purchase vehicles online while offering flexible financing solutions tailored to their needs, has raised an investment in Seed funding round.
Transaction Type: Investment
Investors: –
Co-founders: Mohammad Al Abdulsalam, Abdulla Al Ateeqi
Headquarters: Kuwait
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