Weekly Startup Ecosystem Overview in the Middle East and North Africa (MENA) / July 14 – 20

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Last week, there were 7 investments in the MENA between July 14 – 20:


5 United Arab Emirates (UAE), 1 Egypt, 1 Tunisia


Dubai-based tech venture company invests in a Polish startup.

Sectors Received Investments:

2 Mobility

1 Fintech

1 Foodtech

1 Marketplace / E-Commerce

1 Fashion

1 Construction Tech

1 Mobile Gaming

News of the Week

🎯 Mobility startup One Moto raised funding.

One Moto, an impact-driven electric vehicle ecosystem that specializes in commercial delivery and everyday commuters, has raised $40 million in debt funding from Pyse.

Transaction Type: Investment

Investment Amount: $40.000.000

Investors: Pyse

Co-founders: Adam Ridgway, Stephen Wood

Country: United Arab Emirates (UAE)

🎯 Electric scooters manufacturer Kaco raised funding.

Kaco is a technology company that manufactures of electric scooters, has raised an undisclosed amount in a fundraising round from UGFS.

Transaction Type: Investment

Investment Amount:

Investors: UGFS

Co-founders: Salmi Med Ali

Country: Tunisia

🎯 Financial service company Flash raised funding.

Flash, a mobile application and financial service company that facilitates digital payments to businesses, has raised $6 million in Seed funding round. The investment round was led by Addition, with participation from Flourish Ventures and other angel investors.

Transaction Type: Investment

Investment Amount: $6.000.000

Investors: Addition, Flourish Ventures

Co-founders: Erik Gordon, Sherine Kabesh

Country: Egypt

🎯 Foodtech startup Growdash raised funding.

Growdash, a business intelligence and analytics tool built specifically for restaurants to support profitable growth strategic decisions, has raised $750.000 in pre-Seed funding round, led by Flat6Labs. Plus Venture Capital, Judah VC, TPN Investments, angel investors Zeid Husban and Abdulhamid Al Omar also participated in the investment round.

Transaction Type: Investment

Investment Amount: $750.000

Investors: Flat6Labs, Plus Venture Capital, Judah VC, TPN Investments, Zeid Husban, Abdulhamid Al Omar

Co-founders: Enver Sorkun, Sean Trevaskis

Country: United Arab Emirates (UAE)

🎯 Marketplace aggregator YallaHub raised funding.

YallaHub, a B2B e-commerce marketplace that enables brands to scale up across the GCC region, has raised $6 million in a pre-series A funding round. The invesment round was co-led by Regolith and Fedor Ovchinnikov.

Transaction Type: Investment

Investment Amount: $6.000.000

Investors: Regolith, Fedor Ovchinnikov

Co-founders: Leo Dovbenko, Stas Seleznev

Country: United Arab Emirates (UAE)

🎯 Fashion app Get Outfit raised funding.

Get Outfit, a personalized fashion discovery app with an AI-powered stylist, has raised an undisclosed amount in pre-Seed funding round, led by Forward Angel.

Transaction Type: Investment

Investment Amount:

Investors: Forward Angel

Co-founders: Kim Sanzhiev

Country: United Arab Emirates (UAE)

🎯 Construction tech startup Tenderd raised funding.

Tenderd, which provides customers with AI-generated insights to increase asset utilisation and reduce emissions, targeting heavy industries such as construction and logistics, has raised an undisclosed amount from Wa’ed Ventures.

Transaction Type: Investment

Investment Amount:

Investors: Wa’ed Ventures

Co-founders: Arjun Mohan

Country: United Arab Emirates (UAE)

🎯 Web3 game developer and publisher Hexacore raised funding.

Dubai-based tech venture company Scalo Technologies has led a $3.5 million round for Hexacore, a mobile game publisher specialising in hybrid mobile web3 games. The investment round was also supported by Xsolla, Estoty, and other angel investors.

Transaction Type: Investment

Investment Amount: $3.500.000

Investors: Scalo Technologies, Xsolla, Estoty, angel investors

Co-founders: Mikita Khazau, Aleksandr Krivolap, Dzianis Krupski

Country: Poland

Other News:

📌 Jordan’s Innovative Startups and SMEs Fund (ISSF) has invested $2 million in Hambro Perks’ Oryx Fund to empower the Jordanian startup ecosystem and drive technological innovation in the country.

📌 Non-profit organization for food security, The Egyptian Food Bank (EFB), has announced its collaboration for the second year with El-Forsa with Lamis Elhadidy TV program on ON TV, to expand their network of startups

📌 UAE-based business setup consultancy Creative Zone has collaborated with Fahed Bizzari to deliver an entrepreneur-focused edition of the ChatGPT Accelerator to foster AI literacy amongst UAE entrepreneurs.

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