Weekly Startup Ecosystem Overview in the Middle East and North Africa (MENA) / January 5 – 11

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Last week, there were 7 startup investments and 1 secondary transaction in the MENA between January 5 – 11:


3 Kingdom of Saudi Arabia (KSA), 3 United Arab Emirates (UAE), 1 Egypt

Secondary Transactions:

1 Egypt

Sectors Received Investments:

2 Logistics

1 Health Care

1 Agriculture & Financial Services

1 Travel Tech

1 E-Gaming

1 Automotive

News of the Week

🎯 Logistics solutions provider Nawel raised $1 million.

Nawel, which utilises unused spaces within warehouses and retail facilities, transforming them into storage points and centers to facilitate companies, has raised $1 million in Seed funding round. The investment round was led by Nomad Holdings, with participation from angel investors.

Transaction Type: Investment

Investors: Nomad Holdings, angel investors

Co-founders: Mohamed Balsharaf, Nawaf Al Shalani

Headquarters: Kingdom of Saudi Arabia (KSA)

🎯 Logistics startup Cargoz raised funding.

Cargoz, which connects SMEs looking for warehousing space with warehousing companies that have extra capacity, has raised investment in Seed funding round. The investment round was led by Nama Ventures, with participation from Innovest Properties and other investors.

Transaction Type: Investment

Investors: Nama Ventures, RAZ Holding, Innovest Properties, other investors

Co-founders: Premlal Pullisserry, Lijo Antony

Headquarters: United Arab Emirates (UAE)

🎯 Cloud-based management system Clinicy raised funding.

Clinicy, a cloud-based platform that serves medical institutions and patients, has raised investment in Series A funding round, led by Middle East Venture Partners (MEVP). Kafou Group and Fadeed Investment also participated in the investment round.

Transaction Type: Investment

Investors: Middle East Venture Partners (MEVP), Kafou Group, Fadeed Investment

Co-founders: Prince Mohammed Bin Abdulrahman Abdullah Al Faisal, Abdullah bin Sulaiman Alobaid, Saud bin Sulaiman Alobaid

Headquarters: Kingdom of Saudi Arabia (KSA)

🎯 Dynamic risk management platform Maalexi raised $3 million.

Maalexi, a dynamic risk management platform for SME agri-businesses, has raised $3 million in pre-Series A funding round, led by Global Ventures. Rockstart and Ankurit Capital also participated in the investment round.

Transaction Type: Investment

Investors: Global Ventures, Rockstart, Ankurit Capital

Co-founders: Azam Pasha, Rohit Majhi

Headquarters: United Arab Emirates (UAE)

🎯 AI-powered content platform Lokalee raised $5.6 million.

Lokalee, an ai-powered application that provides information about hotel, dining, and travel accommodations in various destinations, has raised $5.6 million in pre-Series A funding round. The investment round was led by Crown Private Fund, with participation from three strategic investors with a hotel and technology background.

Transaction Type: Investment

Investors: Crown Private Fund, other investors

Co-founders: Samir Abi Frem

Headquarters: United Arab Emirates (UAE)

🎯 E-gaming startup Rize.gg raised $430.000.

Rize.gg. which provides gamers with comprehensive tools for team building, live streaming, and tournament organisation, has raised $430.000 in pre-Seed funding round from angel investors.

Transaction Type: Investment

Investors: Angel investors

Co-founders: Anmar Alharbi

Headquarters: Kingdom of Saudi Arabia (KSA)

🎯 Car management platform FriendyCar raised $2 million.

FriendyM, which offers several car services like maintenance, tracking car expenses and concierge services, has raised $2 million.

Transaction Type: Investment

Investors: –

Co-founders: Abdelrahman Elgamal

Headquarters: Egypt

🛒 Baims acquires Orcas.

Kuwait-based edtech Baims has acquired hybrid tutoring platform Orcas.

Transaction Type: Acquisition

Investors: Baims

Co-founders: Hossam Taher, Amira El Gharib

Headquarters: Egypt

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