There were 12 investments in the MENA between 11 – 24 November:
Investments:
5 United Arab Emirates (UAE), 3 Kingdom of Saudi Arabia (KSA), 2 Egypt, 1 Tunisia, 1 Morocco, 1 Jordan
Acquisitions:
1 Kingdom of Saudi Arabia (KSA)
Sectors Received Investments:
3 Fintech
2 Edtech
1 Proptech
1 Agritech
1 SaaS
1 Productivity
1 Artificial Intelligence
1 Blockchain
1 Marketplace
1 Energy
News of the Week
🎯 UAE-based proptech Silkhaus, raised funding.
Silkhaus, the UAE-based platform that brings together rental platforms in the real estate industry, has raised a $7.8 million Seed from Nuwa Capital, Nordstar, Global Founders Capital, Yuj Ventures, Whiteboard Capital, VentureSouq and International family offices, business people, and global proptech entrepreneurs.
Transaction Type: Investment
Investment Amount: $ 7.750.000
Investors: Nuwa Capital, Nordstar Partners, Global Founders Capital, Yuj Ventures, Whiteboard Capital, VentureSouq
Co-founders: Aahan Bhojani, Ashmin Varma
Country: United Arab Emirates (UAE)
🎯 UAE-based finance startup baraka, raised funding.
Commission-free investment platform baraka has closed a $20 million Series A led by Valar Ventures. The startup is part of Y Combinator and Hub 71, Abu Dhabi’s global technology ecosystem.
Transaction Type: Investment
Investment Amount: $ 20.000.000
Investors: Valar Ventures, Knollwood
Co-founders: Feras Jalbout
Country: United Arab Emirates (UAE)
🎯 Saudi SaaS startup Order, raised funding.
Saudi Arabian food and beverage order (F&B) SaaS startup Order has raised $1 million in a pre-Seed funding round led by angel investors.
Transaction Type: Investment
Investment Amount: $ 1.000.000
Investors: Angel Investors
Co-founders: Faisal AlAnazi, Essam Mohamed
Country: Kingdom of Saudi Arabia (KSA)
🎯 Tunisian agritech Beekeeper, raised funding.
Tunisia-based agritech Beekeeper Tech, which provides smart connected equipment for beekeepers to increase the production of beehives, has raised $640,000 in a round led by 216 Capital Ventures.
Transaction Type: Investment
Investment Amount: $ 640.000
Investors: 216 Capital Ventures, Angel Investors (İbrahim Al-Rashid ve Bridging Angels)
Co-founders: Khaled Bouchoucha
Country: Tunisia
🎯 DataLexing, a Saudi All-in-One Data-Driven productivity platform, raised funding.
Productivity platform DataLexing, which brings together data-driven insights, apps, notifications, forms and Pages on a single platform, has raised a $3 million seed round led by Sadu Capital.
Transaction Type: Investment
Investment Amount: $ 3.000.000
Investors: Sadu Capital, Impact46, Unnamed Investors
Co-founders: Rayan Alfaheid, Abdulelah Alganas
Country: Kingdom of Saudi Arabia (KSA)
🎯 UAE-based fintech KLAIM, raised funding.
Finance startup KLAIM, which provides working capital to small and medium healthcare providers, has raised a $5 million seed round led by Knuru Capital. It plans to expand its investment round to over $30 million through a pool of Sharia-compliant investors.
Transaction Type: Investment
Investment Amount: $ 5.000.000
Investors: Knuru Capital
Co-founders: Karim Dakki, Ghafoor Ahmad
Country: United Arab Emirates (UAE)
🎯 Design technology startup CONIX.AI, raised funding.
AI-based design platform CONIX.AI, which allows architects to create designs and adaptive materials, raised $1.3 million in the pre-Seed round led by BIM Ventures.
Transaction Type: Investment
Investment Amount: $ 1.300.000
Investors: BIM Ventures
Co-founders: Yusuf Fahmy
Country: Egypt, UK
🎯 Blockchain technology company Rekt Studios, raised funding.
Rekt Studios, which provides developers and designers with tools to develop blockchain-based products, has raised $1.5 million from blockchain and web3 venture capital firm Cypher Capital.
Transaction Type: Investment
Investment Amount: $ 1.500.000
Investors: Cypher Capital
Co-founders: Elie Rizek
Country: United Arab Emirates (UAE)
🎯 B2B marketplace Grinta, raised funding.
Grinta, the B2B marketplace platform digitizing the pharmaceutical supply chain, has raised $8 million in Seed funding led by Raed Ventures and Nclude.
Transaction Type: Investment
Investment Amount: $ 8.000.000
Investors: Raed Ventures, Nclude, Endeavor Catalyst, 500 Global
Co-founders: Mohamed Azab, Yosra Badr, Ali Youssef, Hamza Mohamed
Country: Egypt
🎯 Education technology startup SmartProf, raised funding.
SmartProf, an online tutoring marketplace for students based in Morocco, raised $110,000 in the pre-Seed round from UM6P Ventures, Plug and Play and angel investors.
Transaction Type: Investment
Investment Amount: $ $110.000
Investors: UM6P Ventures, Plug and Play, Angel Investors
Co-founders: Mustapha Faiz, Hamza Faiz, Ali Faouzi
Country: Morocco
🎯 UAE-based finance startup Qashio, raised funding.
Fintech Qashio, a spending management platform service, has raised $10 million in Seeds from investors such as One Way Ventures, MITAA, Iliad Partners, Phoenix Investments, Cadorna Ventures, Sanabil 500 MENA, Nuwa Capital.
Transaction Type: Investment
Investment Amount: $ 10.000.000
Investors: One Way Ventures, MITAA, Cadorna Ventures, Sanabil 500 MENA, Nuwa Capital, Iliad Partners, Phoenix Investments, Angel Investors, Family offices
Co-founders: Jonathan Lau, Armin Moradi
Country: United Arab Emirates (UAE)
🎯 Education technology startup Jeel, raised funding.
KSA-based entertainment and education platform edtech Jeel, which provides educational content for preschool children, has raised $1.1 million in Seeds from EdVentures.
Transaction Type: Investment
Investment Amount: $ 1.100.000
Investors: EdVentures, Nahdet Misr Publishing Group
Co-founders: Ahmed Sobaih
Country: Kingdom of Saudi Arabia (KSA)
🎯 Software development firm Algebra Intelligence, raised funding.
Algebra Intelligence, a Jordan-based software development company for the energy sector, received an investment from the Ibtikar Fund. Financial details of the investment were not disclosed.
Transaction Type: Investment
Investors: Ibtikar Fund
Co-founders: Ahmad Altawafsheh, Ala’a Alghwiri, Batool Almallahi
Country: Jordan
🛒 KSA-based Floward, acquired Mubkhar.
Saudi-based flower and gift platform Floward has acquired Kuwait-based perfumery brand Mubkhar.
Transaction Type: Acquisition
Investors: Floward
Co-founders: AbdulaIaziz Loughani (Floward)
Country: Kingdom of Saudi Arabia (KSA)
✏️A Slice of Entrepreneurship 🍰
“Don’t worry about failure; you only have to be right once.”
- Drew Houston
Other News:
📌 World Bank subsidiary International Finance Corporation (IFC) has announced a $225 million venture capital platform to invest in early-stage technology startups in Africa, the Middle East, Central Asia, and Pakistan.
📌 Modus Capital has launched a $75 million Modus Africa VC fund to invest in early-stage startups powered by artificial intelligence and blockchain solutions for African and MENA-based startups.
📌 Israel-based VC firm OurCrowd has announced that it will expand its Abu Dhabi operations with a $60 million investment, with a new venture capital (VC) office and Artificial Intelligence (AI) technology center enabled by the Abu Dhabi Investment Office (ADIO).
📌 Egypt-based early-stage VC and accelerator Flat6Labs has launched Makers, a construction technology innovation program, with construction firm SIAC and engineering consulting firm Dar Al Handasah.
🟥StartupCentrum
Find the best startup jobs or launch your future unicorn company, meet the best talents and startups, and get in contact with international accelerators and investors to grow!
For more information startupcentrum.com
To take part in the StartupCentrum Entrepreneurship Ecosystem Summary of Turkey or MENA series and to be our supporter: [email protected]