Weekly Startup Ecosystem Overview in the Middle East and North Africa (MENA) / February 16 – 22

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Last week, there were 6 startup investments in the MENA between February 16 – 22:


4 United Arab Emirates (UAE), 2 Kingdom of Saudi Arabia (KSA)

Sectors Received Investments:

1 Gaming & Web3

1 Logistics

1 Gaming

1 Cloud Kitchen

1 Health Care

1 Education & Tutoring

News of the Week

🎯 Web3 gaming platform Exverse raised $3 million.

Exverse, which aims to offer players an immersive and advanced gameplay experience, by bringing traditional AAA-quality first-person shooter gaming to the Web3 space, has raised $3 million in private funding round, led by Cogitent Ventures, Cointelligence and Moonrock Capital. KuCoin Labs, Epic Games, Seedify and ChainGPT also participated in the investment round.

Transaction Type: Investment

Investors: Cogitent Ventures, Cointelligence, Moonrock Capital, KuCoin Labs, Epic Games, Seedify and ChainGPT

Co-founders: Nikita Uriupin

Headquarters: United Arab Emirates (UAE)

🎯 Warehouse management solutions provider PIESHIP raised funding.

IESHIP, which provides its clients with warehouse management solutions, using an app for delivering shipments, and technical solutions for logistics services, has raised an investment in pre-Seed funding round from SEEDRA Ventures, Nama Ventures and other angel investors. 

Transaction Type: Investment

Investors: SEEDRA Ventures, Nama Ventures, angel investors

Co-founders: Nasser Alharthi, Musaed Al-Amri, Mohammed Mohsen

Headquarters: Kingdom of Saudi Arabia (KSA)

🎯 Gaming platform GameCentric raised $1.5 million.

GameCentric, a gaming platform that is looking to unite gamers of all ages and skills, be it competitive, semi-competitive, or casual gaming, has raised $1.5 million from Bilal Merchant.

Transaction Type: Investment

Investors: Bilal Merchant

Co-founders: Saad Khan

Headquarters: United Arab Emirates (UAE)

🎯 Cloud kitchen startup The Cloud raised $12 million.

The Cloud, a B2B2C web platform where kitchens can leverage their excess capacity by hosting third party restaurants, has raised $12 million in Series B funding round from MENA Moonshots and Aluna Partners.

Transaction Type: Investment

Investors: MENA Moonshots, Aluna Partners


Headquarters: United Arab Emirates (UAE)

🎯 Health services startup PhysioHome raised funding.

PhysioHome, which offers rehabilitation services in homes or rehabilitation centres in nine cities across Saudi Arabia, besides medical and behavioural rehabilitation services for children, has raised an investment in Seed funding round from angel investors.

Transaction Type: Investment

Investors: Angel investors

Co-founders: Ahmed Sidam

Headquarters: Kingdom of Saudi Arabia (KSA)

🎯 Edtech startup Thiqa Tutoring raised $300.000.

Thiqa Tutoring, which offers tutoring services across the UAE with a focus on quality supervision, end-to-end management, and personalised consultations for students, has raised $300.000 from Hope Ventures, Mashael Fairooza and Dr. Lamya Mahmood during the Beban TV Show.

Transaction Type: Investment

Investors: Hope Ventures, Mashael Fairooz, Dr. Lamya Mahmood

Co-founders: Hamdan Karmustaji, Omar Bakri

Headquarters: United Arab Emirates (UAE)

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