Last week, there were 5 startup investments and 1 secondary transaction in the MENA between February 9 – 15:
Investments:
2 Bahrain, 1 Iraq, 1 United Arab Emirates (UAE), 1 Morocco
Secondary Transactions:
1 United Arab Emirates (UAE)
Sectors Received Investments:
1 E-Commerce & Payments
1 SaaS & Fintech
1 Logistics
1 Food Tech
1 E-Commerce & Automotive
News of the Week
🎯 Payments platform Wayl raised $150.000.
Wayl, which operates as a payment aggregator and facilitator for small merchants and freelance contractual workers, has raised $150.000 in pre-Seed funding round from EQIQ Ventures.
Transaction Type: Investment
Investors: EQIQ Ventures
Co-founders: Ali Ismail
Headquarters: Iraq
🎯 SaaS platform Kema raised $2 million.
Kema, which provides a SaaS platform that helps B2B SMEs accelerate and automate cash flow while saving them time and money, has raised $2 million in pre-Seed funding round, led by Speedinvest. Dubai Future District Fund (DFDF) also participated in the investment round.
Transaction Type: Investment
Investors: Speedinvest, Dubai Future District Fund
Co-founders: Michael Ghandour
Headquarters: United Arab Emirates (UAE)
🎯 Logistics solutions provider Logidoo raised $1.55 million.
Logidoo, which provides cross-border logistics solutions for e-commerce businesses, has raised $1.55 million. The investment round was led by Maroc Numeric Fund II, 216 Capital, Gullit VC, Founders Factory Africa, Sunny Side Venture Partners and Kalys Ventures.
Transaction Type: Invesment
Investors: Maroc Numeric Fund II, 216 Capital, Gullit VC, Founders Factory Africa, Sunny Side Venture Partners, Kalys Ventures
Co-founders: Tamsir Ousmane Traore
Headquarters: Morocco
🎯 Foodtech startup Right Calories raised $265.000.
Right Calories, which provides customers with nutritious and healthy food options, has raised $265.000 from Hope Ventures during the Beban TV Show.
Transaction Type: Investment
Investors: Hope Ventures
Co-founders: Abdulla Sulaibeekh
Headquarters: Bahrain
🎯 E-commerce platform Motolines raised $82.000.
Motolines, an e-commerce platform for automotive parts, has raised $82.000 from Hope Ventures during the Beban TV Show.
Transaction Type: Investment
Investors: Hope Ventures
Co-founders: Ahmed Ashoor
Headquarters: Bahrain
🛒 Sowt Media acquies Rising Giants Network.
Arabic audio content network Sowt Media has acquired podcast producer Rising Giants Network.
Transaction Type: Acquisition
Investors: Sowt
Co-founders: Basel Anabtawi
Headquarters: United Arab Emirates (UAE)
Other News:
📌 Women-led VC firm Globivest has completed its first close of first fund.
📌 Jordan-based Innovative Startups and SMEs Fund (ISSF) has invested $5 million in the Mena-focused fund MSA Novo.
📌 UAE-based Technology Innovation Institute (TII), the applied research pillar of Abu Dhabi’s Advanced Technology Research Council (ATRC), has launched a $300 million non-profit foundation dedicated to the development of open-source generative AI models.
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