Weekly Startup Ecosystem Overview in the Middle East and North Africa (MENA) / 3 – 9 March

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Last week, there were 3 investments and 1 secondary transaction in the MENA between 3 – 9 March:


1 Bahrain, 1 United Arab Emirates (UAE), 1 Kuwait


1 UAE-based company acquired Scotland-base company.

Sectors Received Investments:

1 Marketplace

1 Blockchain/Web3

1 Edtech

News of the Week

🎯 B2B tendering platform Procural raised funding.

Procural, a platform that offers an enterprise-focused procurement marketplace connecting vendors directly to buyers, received and investment of $1.2 million in Seed funding round led by Flagship Holding and BenchMatrix.

Transaction Type: Investment

Investment Amount: $1.200.000

Investors: Flagship Holding, BenchMatrix

Co-founders: Uzair Usman

Country: Bahrain

🎯 Virtual asset management platform nealthy raised funding.

nealthy, a Web3 startup for on-chain index products, has raised $1.3 million in pre-Seed funding round from undisclosed investors.

Transaction Type: Investment

Investment Amount: $1.300.000


Co-founders: Ludwig Schrödl, Zied Said, Tim Pascual

Country: United Arab Emirates (UAE)

🎯 Edtech startup Baims raised funding.

E-learning platform Baims, which provides online courses to high school and university students, received and investment of $4 million in a Series A funding round led by AK Holding. Al-Wazzan Educational Group, Rasameel Investment House and other investors also participated in the investment round.

Transaction Type: Investment

Investment Amount: $4.000.000

Investors: AK Holding, Al-Wazzan Educational Group, Rasameel Investment House

Co-founders: Bader Al-Rasheed, Yousef Alhusaini

Country: Kuwait

🛒 Dulsco Group acquires Advance Global Recruitment.

UAE-based people and environment solutions provider Dulsco, has acquired staffing and recruiting company Advance Global Recruitment.

Transaction Type: Acqusition

Investors: Dulsco


Country: Scotland

Other News:

📌 Flat6labs has launched the StartMashreq entrepreneurship programme, in partnership with the International Finance Corporation (IFC) and the government of the Netherlands, to support startups based in Jordan, Lebanon, and Iraq, with a special focus on women, minorities and internally displaced persons.

📌 UAE-based fintech Zywa has signed a strategic partnership agreement with Mastercard to empower youth to cashless.

📌 Web3 company UPYO has signed a cooperation aggrement with e-learning platform Clessera to offer more technological solutions for Classera in the educational field through blockchain technology, adopted by UPYO.

📌 Dubai-based URB has launched the second edition of its urban-tech accelerator program to support early-stage urban tech startups.

📌 Hub71 has partnered with Asia-Pacific based venture capital Investible to support the growth of tech startups and early-stage companies in Abu Dhabi.

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