Last week, there were 3 startup investments and 1 secondary transaction in the MENA between August 23 – 29:
Investments:
3 United Arab Emirates (UAE)
Secondary Transactions:
1 Qatar
Sectors Received Investments:
1 Media & Entertainment
1 Software
1 Beauty & E-Commerce
News of the Week
🎯 Web3 streaming platform myco raised $10 million.
myco, a content streaming app that integrates AVOD and SVOD capabilities within a decentralised environment, has raised $10 million in Series A funding round from Daman Investments, Aptos Labs, B Digital, Mocha Ventures, Art3 Foundation, Ghaf Capital Partners, Mix Media Network, Factor6 Capital Partners, Enjinstarter and angel investors.
Transaction Type: Investment
Investors: Daman Investments, Aptos Labs, B Digital, Mocha Ventures, Art3 Foundation, Ghaf Capital Partners, Mix Media Network, Factor6 Capital Partners, Enjinstarter, angel investors
Co-founders: Umair Masoom, Somair Rizvi
Headquarters: United Arab Emirates (UAE)
🎯 Web3 services startup Verofax raised $3 million.
Verofax, which applies patented Web3 technologies such as blockchain, augmented reality and artificial intelligence, has raised $3 million in bridge funding round, led by Plug & Play Tech Center, Navig8 Group, King Abdullah University for Science and Technology. Trove Capital UK, Jawa Brothers Advisory, Alzamil Pedco CVC and Tracecore CVC also participated in the investment round.
Investors: Plug & Play Tech Center, Navig8 Group, King Abdullah University for Science and Technology, Trove Capital UK, Jawa Brothers Advisory, Alzamil Pedco CVC, Tracecore CVC
Co-founders: Jamil Zablah, Ryan Merheby, Wassim Merheby
Headquarters: United Arab Emirates (UAE)
🎯 E-commerce platform Powder Beauty raised funding.
Powder Beauty, which offers its customers eco-conscious beauty products, has raised an investment in pre-Series A funding round. The investment round was led by Sophia Collective and NKEHL, with participation from angel investors such as Maha Taibah.
Transaction Type: Investment
Investors: Sophia Collective, NKEHL, Maha Taibah, other angel investors
Co-founders: Ayat Toufeeq, Amina Grimen, Marriam Mossall
Headquarters: United Arab Emirates (UAE)
🛒 Sakan acquires Hapondo.
Proptech startup Sakan has acquired real estate marketing platform Hapondo.
Transaction Type: Acquisiton
Investors: Sakan
Co-founders: Ahmad AlKhanji
Headquarters: Qatar
Other News:
📌 GCC-based family offices have launched “Waad Investment,” an investment firm with a targeted value of $200 million, led by investor Yaser AlGhamdi in collaboration with the AlMajed and AlMisfer family offices.
📌 Bahrain-based Tenmou angel investment company has invested in two Baharini startups, Tajweed and Travilege.
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