Last week, there were 3 startup investments in the MENA between December 1 – 7:
Investments:
1 Egypt, Kingdom of Saudi Arabia (KSA), 1 Tunisia
Sectors Received Investments:
1 Marketplace
1 Supply Chain Management
1 SaaS
News of the Week
🎯 Online car parts marketplace Mtor raised $2.8 million.
Mtor, which provides a unified platform for local car workshops and on-demand automotive spare parts, has raised $2.8 million in pre-Seed funding round. The investment round was led by Algebra Ventures, with participation from the Dutch Founders Fund (DFF), Aditum Ventures, LoftyInc Capital Management and angel investors.
Transaction Type: Investment
Investors: Algebra Ventures, Dutch Founders Fund (DFF), Aditum Ventures, LoftyInc Capital Management, angel investors
Co-founders: Mohamed Maged, Moaz El-Megharbel, Mohamed Altaf, Khaled Kandil
Headquarters: Egypt
🎯 E-commerce and omnichannel enablement platform Omniful raised $5.85 million.
Omniful, which provides merchants and fulfilment providers with a unified management system, warehouse management system and transport management system to scale their businesses, has raised $5.85 million in Seed funding round, led by VentureSouq. 500 Global, DASH Ventures, Jahez Group, SEEDRA Ventures, Bunat Ventures, Hala Ventures, RZM Investments, family offices including Al Rasheed, Siraj Holding, Al Bawardi, Al Nafea, and a number of GCC angel investors also participated in the investment round.
Transaction Type: Investment
Investors: VentureSouq, 500 Global, DASH Ventures, Jahez Group, SEEDRA Ventures, Bunat Ventures, Hala Ventures, RZM Investments, Al Rasheed, Siraj Holding, Al Bawardi, Al Nafea, GCC angel investors
Co-founders: Mostafa Abolnasr, Alankrit Nishad
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 B2B SaaS solution Cynoia raised $933.000.
Cynoia, which integrates chat, video conferencing, email, calendars, documents, and project management tools, aiming to simplify and optimize collaboration within businesses, has raised $933.000 in Seed funding round. The investment round was led by 216 Capital, with participation from United Gulf Financial Services and Bpifrance.
Transaction Type: Investment
Investors: 216 Capital, United Gulf Financial Services, Bpifrance
Co-founders: Ayoub Rabeh, Nassreddine Riahi
Headquarters: Tunisia
Other News:
📌 Global tech ecosystem Hub71 has announced the launch of Hub71+ ClimateTech to support startups worldwide working on solutions to tackle decarbonisation and achieve net zero.
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