Last week, there were 6 startup investments in the MENA between January 24 – 30:
Investments:
4 United Arab Emirates (UAE), 1 Kingdom of Saudi Arabia (KSA), 1 Egypt
Sectors Received Investments:
2 Financial Services
1 Biotechnology
1 Agriculture & Fintech
1 E-Commerce
1 Property Management
News of the Week
🎯 Corporate card and expense management platform Pluto raised $4.1 million.
Pluto, which enables businesses to streamline their spending management using virtual and physical cards with specific spend controls, has raised $4.1 million in pre-Series A funding round, led by Rhino Ventures, Born Capital, Goanna Capital, Evolution VC, Freesearch VC and Tiferes VC.
Transaction Type: Investment
Investors: Rhino Ventures, Born Capital, Goanna Capital, Evolution VC, Freesearch VC, Tiferes VC
Co-founders: Mohammed Ridwan, Mohammed Aziz, Nayeem Zen
Headquarters: United Arab Emirates (UAE)
🎯 Fintech startup Ebana raised $2.66 million.
Ebana, which provides integrated digital services and technical infrastructure to support corporate governance affairs, has raised $2.66 million in pre-Series A funding round from Esnad Legal Consulting and Business Governance.
Transaction Type: Investment
Investors: Esnad Legal Consulting, Business Governance
Co-founders: Ali Alshareef
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 Biotech startup BioSapien raised $7 million.
BioSapien, a biotech startup that provides a drug delivery platform to deliver drugs for cancer treatment, has raised $7 million in pre-Series A funding round from Golden Gate Ventures.
Transaction Type: Investment
Investors: Golden Gate Ventures
Co-founders: Khatija Ali
Headquarters: United Arab Emirates (UAE)
🎯 Risk management platform Maalexi raised $3 million.
Maalexi, which helps small food and agribusinesses directly access cross-border trade through its dynamic risk management platform, has raised $3 million in debt financing round from Citi.
Transaction Type: Investment
Investors: Citi
Co-founders: Azam Pasha, Rohit Majhi
Headquarters: United Arab Emirates (UAE)
🎯 Logistics startup Fincart raised funding.
Fincart, which provides online retailers with access to a marketplace of delivery providers and an overview of their operations, has raised an investment in pre-Seed funding round from Plus VC, Plug and Play, Orbit Startups, Jedar Capital and other regional investors.
Transaction Type: Investment
Investors: Plus VC, Plug and Play, Orbit Startups, Jedar Capital, other regional investors
Co-founders: Mostafa Elmasry, Nihal Ali
Headquarters: Egypt
🎯 Proptech startup Silkhaus raised funding.
Silkhaus, which offers a marketplace for short-term rentals across the UAE, has raised funding from Nuwa Capital, Oraseya Capital, Impulse International, Yuj Ventures, Nordstar and other family offices.
Transaction Type: Investment
Investors: Nuwa Capital, Oraseya Capital, Impulse International, Yuj Ventures, Nordstar, other family offices
Co-founders: Aahan Bhojani
Headquarters: United Arab Emirates (UAE)
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