Weekly Startup Ecosystem Overview in the Middle East and North Africa (MENA) / 23 – 29 September

Here you can read this post in these languages:

Top News

There were 6 investments and 3 secondary transactions in the MENA between 23 – 29 September:


4 Egypt, 1 United Arab Emirates (UAE), and  1 Tunisia. 


2 United Arab Emirates (UAE), 1 Lebanon

Sectors Received Investments:

1 Marketplace 

1 Proptech 

1 Gaming

1 Cleantech

1 Restaurant

1 Finance

🎯 Egypt-Based Marketplace Mazaya raised funding.

Egypt-based electronic product B2B E-commerce Marketplace Mazaya raised $5 million in the Pre-SEED round led by Raya Holding for Financial Investments. The funding from this investment round will be used to help Mazaya scale its operations in Egypt and expand into new markets.

Transaction Type: Investment

Investment Amount: 5.000.000 $

Investors: Raya Holding for Financial Investments

Co-founders:   Amir Aboul Fotouh

Country: Egypt

🎯 Egypt-based Proptech Partment raised funding.

Offering an end-to-end management service solution for second home co-ownership, Egypt-based Partment, Nclude, closed its pre-Seed round with an investment of $1.5 million, led by Plus Venture Capital (+VC) and with the participation of a group of angel investors.

Transaction Type: Investment

Investment Amount: 1.500.000 $

Investors: Nclude, Plus Venture Capital (+VC),  Angel Investors

Co-founders:  Ahmed El Raggal, Nadim Nagui

Country: Egypt

🎯 Egypt’s Ingame Sports raised funding.

InGame Sports, Egypt-based gaming and sports tech startup have raised over $1 million in cash, in-kind, and grants in a pre-seed round led by global VC Openner. Founded in 2021, Ingame offers football fans a gaming experience with a rewards plan.

Transaction Type: Investment

Investment Amount: 1.000.000 $

Investors: Openner, Sports Radar, Angel Investors

Co-founders:  Mohab El Tawila

Country: Egypt

🎯 Tunisia-based startup Kumulus raised funding.

Kumulus, a Tunisian startup that produces thermal machines that can produce drinking water with solar energy, raised 1 Million Euros in its pre-seed funding round with the participation of Paris Techstars Accelerator, Flat6Labs, WILCO and Bpifrance, and business angels.

Transaction Type: Investment

Investment Amount: 1.000.000 €

Investors: Paris Techstars Accelerator, Flat6Labs, WILCO, Bpifrance, Business Investors

Co-founders:  Mohamed Ali Abid, Iheb Triki

Country: Tunisia

🎯 Eat App, UAE-HQ restaurant reservation platform, raised funding.

The startup offering a Dubai-based restaurant reservation platform, Eat App, closed an 11 million-dollar Series B with the participation of MEVP, 500 Startups, Derayah VC, Dallah Albaraka, Ali Zaid Al Quraishi & Brothers Company, Rasameel Investment Company and existing investors.

Transaction Type: Investment

Investment Amount: 11.000.000 $

Investors: MEVP, 500 Startups, Derayah VC, Dallah Albaraka, Ali Zaid Al Quraishi & Brothers Company, Rasameel Investment Company

Co-founders:  David Feuillard, Nezar Kadhem

Country: United Arab Emirates (UAE)

🎯 Egypt-based Provider of nano-loans Kashat raised funding.

Kashat, a startup offering Nano loan service with machine learning infrastructure, has received funding from both Plug & Play and Launch Africa as part of its ongoing fundraising campaign. Financial details of the funding round were not shared.

Transaction Type: Investment

Investors: Plug & Play, Launch Africa

Co-founders:  Karim Nour, Sumair Farooqui

Country: Egypt

🛒 Dubai-based Oktopi acquired UK’s TutorHouse

Oktopi, a UAE-based experience next-gen learning management platform, acquired TutorHouse, UK – based online tutoring platform, for an undisclosed value.

Transaction Type: Acquisition

Investors: Oktopi

Co-founders: Emilie Thomas Mansour, Fadi Abbas, Walid Mansour(Oktopi)

Country: United Arab Emirates (UAE)

🛒 UAE-based Chalhoub Group, acquired a majority stake in Threads Styling

Chalhoub Group, a UAE-based privately held luxury goods retailer and distributor, has acquired a majority stake in London-based luxury shopping platform Threads Styling for an undisclosed value.

Transaction Type: Acquisition

Investors: Chalhoub Group

Co-founders: Michel Chalhoub (Chalhoub Group)

Country: United Arab Emirates (UAE)

🛒 UAE-based online insurance platform BuyAnyInsurance.com,  acquired by Chedid Capital.

Lebanon-based Chedid Capital has acquired a majority stake in MMR Holding Limited, the parent company of UAE-based insurance comparison marketplace BuyAnyInsurance, for an undisclosed sum.

Transaction Type: Acquisition

Investors: Chedid Capital

Co-founders: Michael İlyas, Mark Bachayani (BuyAnyInsurance.com)

Country: Lebanon

🛒 Logistics marketplace Trella has entered into a cooperation agreement with Contact Financial.

Contact Financial Holding, an Egypt-based non-banking financial services company, has entered into a collaboration agreement with the B2B technology platform and logistics marketplace Trella to expand formerly loan services and enable a wide range of digital platforms to meet their business.

Transaction Type: Strategic Cooperation

Co-founders: Ali El Atrash, Muhammad El Garem, Omar Hagrass, Pierre Saad (Trella)

Country: Egypt


 ✏️A Slice of Entrepreneurship 🍰

” Make your team feel respected, empowered, and genuinely excited about the company’s mission.”

  • Tim Westergren, Co-Founder of Pandora


Other News:

📌 Morocco-based BMCE Capital has launched a $4.5 million fund to support the local ecosystem. The fund focuses on financing Moroccan startups at the seed stage.

📌 The Egypt-Centered Climate Resilience Fund has launched a $25 million venture capital fund to invest in the pre-seed stage ‘nature-positive’ and sustainable agriculture initiatives in the MEA.

📌 UAE-based investment firm Further Ventures launches a $200 million fund that will focus on investments in early-stage digital assets, fintech, and supply chain

📌 The African Women Impact Fund (AWIF) Initiative, established to support female asset managers, female-led funds, and investment managers, announced the first closing of the $60 million fund.

📌 Morocco-based investment firm BMCE Capital Investment has launched its first $4.5 million venture capital fund to invest in Moroccan seed-stage startups.

📌 UAE-based payment and shopping app Tabby has partnered with Egypt’s BNPL digital payment solution fintech Paymob.

📌 Microsoft for Startups Middle East has announced the 3rd batch of its GrowthX Accelerator program.


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: [email protected]

Recent Articles

Related Posts


Lütfen yorumunuzu giriniz!
Lütfen isminizi buraya giriniz