Weekly Startup Ecosystem Overview in the Middle East and North Africa (MENA) / 14-20 October

Top News

There were 10  investments in the MENA between 14-20 October:

Investments: 

5 Egypt, 3 Kingdom of Saudi Arabia (KSA), 1 United Arab Emirates (UAE), 1 Tunisia

Acquisitions: 

1 Morocco, 1 Jordan, 1 United Arab Emirates (UAE)

Sectors Received Investments:

5 E-commerce

2 Fintech

2 Edtech

1 Human Resources

News of the Week

🎯 Tunisia-based edtech startup Sghartoon, raised funding.

Tunisia-based edtech startup Sghartoon has raised $150,000 from the Oman Investment Fund. It offers interactive cartoons, exercises and games with content adapted for dyslexic children. It was part of Flat6Labs Tunisia in 2020.

Transaction Type: Investment

Investment Amount: $150.000

Investors: Oman Investment Fund

Co-founders: Hidayet Ayadi

Country: Tunisia

🎯 Human Resources startup HRCom, raised funding.

Saudi Arabian recruitment SaaS startup HRCom has raised a seed fund from Saudi Manpower Solutions Company (SMASCO), Professional Recruitment agency, Squadio and angel investors. Financial details were not disclosed.

Transaction Type: Investment

Investors: Saudi Manpower Solutions Company (SMASCO), Professional Recruitment agency, Squadio, Angel Investors

Co-founders: Ziyad Al Twaijri

Country:  Kingdom of Saudi Arabia (KSA)

🎯 E-commerce provider startup Zid, raised funding.

Saudi Arabian-based e-commerce provider Zid has raised $50 million in Series B funding led by IMPACT46. Zid enables retailers to sell and grow their own online channels through its two solutions, ZidShip(shipping) and ZidPay(payment).

Transaction Type: Investment

Investment Amount: $50.000.000

Investors: IMPACT46, Wa’ed Ventures, Endeavour Catalyst, Global Ventures, Elm, Arzan VC, MSA Capital

Co-founders: Sultan AlAsmi, Mazen AlDarrab

Country:  Kingdom of Saudi Arabia (KSA)

🎯 B2B e-commerce and distribution platform MaxAB, raised funding.

Egypt-based B2B food and grocery e-commerce startup MaxAB has raised $40 million in a pre-series B funding round from Silver Lake, British International Investment, Disrupt AD, BECO Capital, 4DX Ventures, Flourish Ventures and Africa Platform Capital.

Transaction Type: Investment

Investment Amount: $40.000.000

Investors: Beco Capital, Flourish Ventures, 4DX Ventures, Africa Platform Capital, Silver Lake, DisruptAD, British International Investment (BII)

Co-founders: Belal El-Megharbel, Mohamed Ben Halim

Country: Egypt

🎯 Egypt-based youth-focused fintech Kiwe, raised funding.

Kiwe, an Egypt-based youth-focused social payments startup, has raised funds from valU, the Egypt-based BNPL, the value of which has not been disclosed.

Transaction Type: Investment

Investors: valU

Co-founders: Fatma Khalifa, Omar Kamel, Mohamed Khalifa

Country: Egypt

🎯 Trella, the Egyptian-based trucking market, received a debt investment.

Trella, an Egypt-based digital freight marketplace, has borrowed $6 million from ALMA Sustainable Finance (ALMA) and the US International Development Finance Corporation (DFC).

Transaction Type: Investment

Investment Amount: $6.000.000

Investors:  ALMA Sustainable Finance (ALMA), US International Development Finance Corporation (DFC)

Co-founders:  Omar Hagrass, Ali El Atrash, Pierre Saad ve Muhammad El Garem

Country: Egypt

🎯UAE-based e-commerce startup Santra, raised funding.

Santra, UAE-based ecommerce enablement startup, raised a pre-seed funding round from Infinity Enterprises Investment, value undisclosed. The startup was founded in 2022 and focuses on home businesses. It has not launched its services yet.

Transaction Type: Investment

Investors: Infinity Enterprises Investment

Co-founders: Aziz Jameel

Country: UAE

🎯 Kenzz, an Egyptian-based e-commerce startup, raised funding.

Kenzz, an Egypt-based e-commerce solutions provider, raised $3.5 million in a seed investment round led by Outliers VC.

Transaction Type: Investment

Investment Amount: $3.500.000

Investors: Outliers VC, HOF Capital, Foundation Ventures, Samurai Incubate

Co-founders: Ahmed Atef, Mahmoud AlSilk, Moataz Sami

Country: Egypt

🎯 Egyptian fintech Nexta, raised funding.

Egypt-based digital banking startup Nexta has secured $3 million in funding from digital bank firm e-Finans.

Transaction Type: Investment

Valuation: $3.000.000

Investors: e-Finans

Co-founders: Ahmed Hisham

Country: Egypt 

🎯 Marah, the platform that provides activities for children, raised funding.

Saudi-based events platform for children, Marah, has raised a seed fund from angel investors. Financial details were not disclosed.

Transaction Type: Investment

Investors: Angel Investors

Country:  Kingdom of Saudi Arabia (KSA)

🛒 Mobility startup Badeel is acquired by Moroccan-based Sofac.

Moroccan mobility startup Badeel has been acquired by Moroccan financial services company Sofac. Financial details were not disclosed.

Transaction Type: Acquisition

Investors: Sofac

Co-founders: Al Shaima Al Jahdhami (Badeel)

Country: Morocco

🛒 Fresh Del Monte acquires agricultural technology Decapolis.

US-based agricultural company Fresh Del Monte Produce has acquired a 39 percent stake in Jordanian agricultural technology Decapolis.

Transaction Type: Acquisition

Share Ratio: 39%

Investors: Fresh Del Monte

Co-founders:  Abedalrhman Habashneh (Decapolis)

Country: Jordan

 ✏️A Slice of Entrepreneurship 🍰

“Document everything. People are voracious for the products of productive people. ”

  •  Kevin Hale, Wufoo

🟥StartupCentrum

Find the best startup jobs or launch your future unicorn company, meet the best talents and startups, 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: data@startupcentrum.com

Recent Articles

Related Posts

LEAVE A REPLY

Please enter your comment!
Please enter your name here