Weekly Startup Ecosystem Overview in the Middle East and North Africa (MENA) / April 19 – 25

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Last week, there were 7 startup investments in the MENA between April 19 – 25:


4 Egypt, 2 United Arab Emirates (UAE), 1 Jordan

Sectors Received Investments:

1 Broadcasting & Podcast

1 Mental Health

1 Apps & Software

1 Human Resources

1 Financial Services

1 E-Commerce & Logistics

1 Consumer Goods & E-Commerce

News of the Week

🎯 Podcast production company Potcast raised funding.

Potcast, which creates 15 diverse programmes tailored to various target demographics, has raised an early financing round through the Shark Tank programme.

Transaction Type: Investment

Investors: Shark Tank

Co-founders: Islam Adel

Headquarters: Egypt

🎯 Online mental health platform Arab Therapy raised $1 million.

Arab Therapy, an online mental health platform that connects individuals with a range of licenced mental health professionals, has raised $1 million in Seed funding round. The investment round was led by Flat6Labs, with participation from Vision Health Pioneers and a group of angel investors.

Transaction Type: Investment

Investors: Flat6Labs, Vision Health Pioneers, angel investors

Co-founders: Tareq Dalbah, Omar Koudsi, Hekmat Al-Hasi

Headquarters: Jordan

🎯 Mobile application Waffarha raised funding.

Waffarh, which offers daily deals with big discounts starting from 50% up to 90%, has raised an investment in Seed funding round from Value Makers Studio.

Transaction Type: Investment

Investors: Value Makers Studio

Co-founders: Tarek Magdy

Headquarters: Egypt

🎯 HRTech SaaS platform bluworks raised $1 million.

bluworks, which offers businesses HR and SaaS solutions to help them optimise costs while leveraging data for decision-making, has raised $1 million in pre-Seed funding round, led by Khawarizmi Ventures. Camel Ventures, Acasia Ventures and angel investors also participated in the investment round.

Transaction Type: Investment

Investors: Khawarizmi Ventures, Camel Ventures, Acasia Ventures, angel investors

Co-founders: Farah Osman, Hussein Wahdan, Nour Ahmadein

Headquarters: Egypt

🎯 Fintech startup Bokra raised $4.6 million.

Bokra, which helps retail and SME investors save and invest across multiple asset classes, has raised $4.6 million in pre-Seed funding round. The investment round was led by DisrupTech Ventures, with participation from SS Capital and other investors.

Transaction Type: Investment

Investors: DisrupTech Ventures, SS Capital, other investors

Co-founders: Ayman El-Sawy

Headquarters: Egypt

🎯 Fulfillment and distribution services provider Shorages raised $1 million.

Shorages, which provides fulfilment centres around the UAE, and now the KSA, for e-commerce platforms to receive inventory and dispatch orders across the GCC region, has raised $1 million in pre-Series A funding round, led by Joa Capital.

Transaction Type: Investment

Investors: Joa Capital

Co-founders: Rayan Osseiran

Headquarters: United Arab Emirates (UAE)

🎯 Online marketplace WEE Marketplace raised $10 million.

WEE, an online marketplace that offers fast delivery services, has raised $10 million in pre-Series A funding round from SIG Investment.

Transaction Type: Investment

Investors: SIG Investment

Co-founders: Anastasia Kim, Oleg Dashkevich, Sergey Kolikov

Headquarters: United Arab Emirates (UAE)

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