Weekly Startup Ecosystem Overview in the Middle East and North Africa (MENA) / 13 – 19 January

Last week, there were 7 investments and 3 secondary transactions in the MENA between 13 – 19 January:

Investments:

6 United Arab Emirates (UAE), 1 Iraq

Acquisitions:

1 United Arab Emirates (UAE), 1 Tunisia

Bonus:

1 Abu Dhabi-based investor acquired a US-based company.

Sectors Received Investments:

2 Mobility

2 Fintech

1 Metaverse

1 Digital Advertising

1 Foodtech

News of the Week

🎯 Micro-mobility startup Terra raised funding.

Terra, a B2B micro-mobility startup that provides energy-efficient motorcycles to distribution businesses through a subscription model, has raised pre-Seed investment round from unnamed Saudi, American and British angel investors.

Transaction Type: Investment

Investment Amount:

Investors: Angel Investors

Co-founders: Husam Zammar

Country: United Arab Emirates (UAE)

🎯 Electric mobility startup One Moto raised funding.

Electric mobility startup and last-mile delivery services provider One Moto received an investment of $150 million from an unnamed investor in the UK.

Transaction Type: Investment

Investment Amount: $150.000.000

Investors: Angel Investor

Co-founders: Adam Ridgway, Stephen Wood

Country: United Arab Emirates (UAE)

🎯 Fintech startup Alaan raised funding.

B2B startup Alaan, which allows businesses to issue physical and virtual cards for e-commerce transactions, has raised $4.5 million in the pre-Series A round. The investment round led by Presight Capital, Y Combinator and angel investors.

Transaction Type: Investment

Investment Amount: $4.500.000

Investors: Presight Capital, Y Combinator, angel investors

Co-founders:  Parthi Duraisamy, Karun Kurien

Country: United Arab Emirates (UAE)

🎯 UAE-based fintech Tabby raised funding.

Fintech startup Tabby, which offers users various payment methods for their purchases, received an investment of $58 million in the Series C round. The investment round was attended by Sequoia Capital India, STV, PayPal Ventures, Mubadala Investment Capital, Arbor Ventures, and Endeavor Catalyst.

Transaction Type: Investment

Investment Amount: $58.000.000

Investors: Sequoia Capital India, STV, PayPal Ventures, Mubadala Investment Capital, Arbor Ventures, Endeavor Catalyst

Co-founders: Hosam Arab

Country: United Arab Emirates (UAE)

🎯 Metaverse platform Nümi raised funding.

A worldwide metaverse platform Nümi has raised $20 million from Venom Ventures Fund.

Transaction Type: Investment

Investment Amount: €20.000.000

Investors: Venom Ventures Fund

Co-founders: Viktor Tumasov

Country: United Arab Emirates (UAE)

🎯 Last-mile startup Flyby raised funding.

Flyby, which provides customers to smart delivery boxes attached to a mobile advertising board, has raised $1 million in the Seed round led by FHS Capital and VN2 Capital.

Transaction Type: Investment

Investment Amount: $1.000.000

Investors: FHS Capital, VN2 Capital

Co-founders:

Country: United Arab Emirates (UAE)

🎯 Iraq-based startup Alsaree3 raised funding.

Alsaree3, the food delivery app that helps restaurants run their own operations, has closed a seven-figure bridge tour, bringing its total funding to over $6.5 million.

Transaction Type: Investment

Investment Amount:

Investors:

Co-founders: Bassam Al-Ateia

Country: Iraq

🛒 Tunisian startup Galactech acquired by GBarena.

Egypt-based esports platform GBarena has acquired the e-sports startup Galactech for $15 million.

Transaction Type: Acquisition

Investment Amount: $15.000.000

Investors: GBarena

Co-founders: Houcem Maiza, Houssem Zouaghi

Country: Tunisia

🛒 Bahrain-based Beyon Cyber acquires DTS Solutions.

Cyber security solutions provider Beyon Cyber has acquired a majority stake in DTS Solutions.

Transaction Type: Acquisition

Investment Amount:

Investors: Beyon Cyber

Co-founders: Shah Sheikj, Vahe Daghlian

Country: United Arab Emirates (UAE)

🛒 Abu Dhabi-based investor Mubadala acquires Dental Care Alliance.

US-based dental services organization Dental Care Alliance acquired by Mubadala Investment Company.

Transaction Type: Acquisition

Investment Amount:

Investors: Mubadala Investment Company

Co-founders:

Country: US

Other News:

📌 The Sovereign Fund of Egypt (TSFE) and Etisalat Egypt by e& partnered to launch Erada Mikrofinans, to facilitate micro and small businesses’ access to a variety of financial services.

📌 Masdar City collaborates with AWS to help UAE startups accelerate their growth and build safe cloud-based services.

📌 UAE-based Big Data Analytics and Artificial Intelligence company Presight AI has collaborated with Astana Hub to support IT startups in Central Asia.

📌 Masdar City partners with Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) and The Catalyst to create the region’s first clean technology startup accelerator programe.

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