Weekly Startup Ecosystem Overview in the Middle East and North Africa (MENA) / 4 – 10 November

Top News

There were 9  investments in the MENA between 4 – 10 November:

Investments: 

3 United Arab Emirates (UAE), 2 Egypt, 1 Iraq, 1 Kingdom of Saudi Arabia (KSA), 1 Algeria, 1 Morocco

Acquisitions: 

1 United Arab Emirates (UAE)

Sectors Received Investments:

3 Fintech

2 E-Commerce

1 Edtech 

1 Foodtech 

1 Super app

1 Healthtech 

News of the Week

🎯 Iraq-based e-commerce platform Orderii, raised funding.

Orderii, an e-commerce platform that provides logistics services for products at cross-border sites, closed a 6-digit pre-seed tour from Iraq Venture Partners (IVP).

Transaction Type: Investment

Investors: Iraq Venture Partners (IVP)

Co-founders:  Shakir Ayad Al Jammas 

Country: Iraq

🎯 Edtech startup Shaguf, raised funding.

Shaguf, the startup that develops solutions that support the digitalization of the education industry, raised $400,000 in a pre-seed tour with the participation of angel investors.

Transaction Type: Investment

Investment Amount: $ 400.000

Investors: Angel Investors

Co-founders:  Ahmed Alrashed

Country: Kingdom of Saudi Arabia (KSA)

🎯 Foodtech startup Brotinni, raised funding.

Food technology and black butcher solutions startup Brotinni has raised a $600,000 Seed round led by  Innlife Investments.

Transaction Type: Investment

Investment Amount: $ 600.000

Investors: Innlife Investments

Co-founders: Dalia Abou Omar 

Country: Egypt

🎯  Fintech startup Pyypl, raised funding.

Pyypl, a financial services platform with blockchain payment technology, has raised a $20 million Series B round from a group of international and existing investors.

Transaction Type: Investment

Investment Amount:$ 20.000.000

Investors: International Investors, Existing Investors

Co-founders:  Antti Arponen

Country: United Arab Emirates (UAE)

🎯 Super app startup Yassir, raised funding.

Algeria-based Yassir, its super app that offers on-demand services like ride-hailing, food and grocery delivery, banking, and more, has raised $150 million in Series B funding led by BOND.

Transaction Type: Investment

Investment Amount: $ 150.000.000

Investors: BOND, DN Capital, Dorsal Capital, Quiet Capital, Stanford Alumni Ventures, Y Combinator, Other Investors

Co-founders:  Noureddine Tayebi, El Mahdi Yettou

Country: Algeria

🎯 Fintech startup WafR, which offers retail discounts, raised funding.

WafR, the app that enables Moroccan-based retail brands to offer smart promotions to markets, has raised $120,000 from First Circle Capital.

Transaction Type: Investment

Investment Amount: $120.000

Investors: First Circle Capital

Co-founders:   Ismail Bargach, Reda Sallak

Country: Morocco

🎯 UAE-based delivery platform Swftbox, raised funding.

Swftbox, the startup offering a delivery solution for UAE-based e-commerce retailers, has closed its $2 million Seed round led by the MENA Technology Fund.

Transaction Type: Investment

Investment Amount: $2.000.000

Investors: MENA Technology Fund, Polymath Ventures, AirAngels, Ithraa Investment Company, Other Investors

Co-founders:  Mohammad Absi-Halabi

Country: United Arab Emirates (UAE)

🎯 Egypt-based fintech startup Blnk, raised funding.

Fintech startup Blnk, which offers instant consumer loans, has raised $23.7 million in equity and debt financing and $8.3 million in securitized bond issuance.

Transaction Type: Investment

Investment Amount: $32.000.000

Investors: Abu Dhabi’s Emirates International Investment Company (EIIC), Sawari Ventures, Angel Investors

Co-founders:  Amr Sultan, Tarek Elsheikh

Country: Egypt

🎯 Healthtech startup Okadoc, raised funding.

Healthtech startup Okadoc, a UAE-based medical reservation, and consultation platform, has raised $10 million in a pre-series B funding round led by IGAN and Buna Ventures.

Transaction Type: Investment

Investment Amount: $10.000.000

Investors: IGAN, Bunat Ventures, Bassem Ibrahim Hayel Saeed Group, Club 49, Alesay Group, Bupa Arabic, ADQ, Now Invest

Co-founders:  Fodhil Benturquia

Country: United Arab Emirates (UAE)

🛒 UAE-based Tarjama Group acquired Screens.

Tarjama Group, a UAE-based artificial intelligence-supported language technology service, has acquired Lebanese-based subtitling, dubbing, and installation firm Screens.

Transaction Type: Acquisition

Investors: Tarjama Group

Co-founders: Nour Al Hassan (Tarjama)

Country: United Arab Emirates (UAE)

 

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