Last week, there were 8 startup investments in the MENA between July 26 – August 1:
Investments:
3 United Arab Emirates (UAE), 3 Egypt, 2 Kingdom of Saudi Arabia (KSA)
Sectors Received Investments:
1 Business Intelligence
1 Financial Services
1 SaaS & Software
1 Procurement
1 Education
1 E-Commerce & Marketplace
1 Artificial Intelligence
1 Analytics
News of the Week
🎯 Retail technology solutions provider Pathfinder $325 million.
Pathfinder, which delivers solutions that enhance customer engagement and drive business success, has raised $325 million from Silver Rock Group.
Transaction Type: Investment
Investors: Silver Rock Group
Co-founders: Ahmed Hussain, Sadique Ahmed
Headquarters: United Arab Emirates (UAE)
🎯 Financial operating system Mamo raised $3.4 million.
Mamo, which empowers SMEs in the MENA region by simplifying their financial operations and enhancing cost-efficacy, has raised $3.4 million from 4DX Ventures, Dubai Future District Fund and Cyfr Capital.
Transaction Type: Investment
Investors: 4DX Ventures, Dubai Future District Fund, Cyfr Capital
Co-founders: Asim Janjua, Imad Gharazeddine, Mohammad El Saadi
Headquarters: United Arab Emirates (UAE)
🎯 AI-powered SaaS platform Velents AI raised funding.
Velents, ai-powered SaaS platform that automates the hiring process to mitigate the bias and cut hiring cost by 80%, has raised funding from Women Collective.
Transaction Type: Investment
Investors: Women Collective
Co-founders: Abdulaziz Almuhaydib, Mohamed Gaber
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 F&B e-commerce platform Watermelon Ecosystem raised $4 million.
Watermelon Ecosystem, a B2B marketplace that connects buyers with sellers across the F&B supply chain, has raised $4 million in Series A funding round, led by undisclosed investors.
Transaction Type: Investment
Investors: –
Co-founders: Omar AlShamsi
Headquarters: United Arab Emirates (UAE)
🎯 Edtech startup Educatly raised $2.5 million.
Educatly, a student-recruitment platform providing students with all the information they need to study abroad, has raised $2.5 million, led by TLcom Capital and Plus VC.
Transaction Type: Investment
Investors: TLcom Capital, Plus VC
Co-founders: Mohamed ElSonbaty, Abdelrahman Ayman, Joan Manuel
Headquarters: Egypt
🎯 B2B e-commerce platform Cartona raised $8.1 million.
Cartona, a B2B e-commerce marketplace that connects buyers and sellers across the supply chain, has raised $8.1 million in Series A funding round. The investment round was led by Algebra Ventures, with participation from Silicon Badia and SANAD Fund.
Transaction Type: Investment
Investors: Algebra Ventures, Silicon Badia, SANAD Fund
Co-founders: Mahmoud Abdelfattah, Mahmoud Talaat, Rafik Zaher
Headquarters: Egypt
🎯 Deeptech AI startup Intelmatix raised $20 million.
Intelmatix, a deep-tech AI company with capabilities that address sector challenges by providing tailored solutions and unique products, has raised $20 million in Series A funding round, led by Shorooq Partners. Saudi Venture Capital Company, Saudi Technology Ventures, Olayan Financing Company, Sultan Holdings, Zain Ventures and Rua Growth Fund also participated in the investment round.
Transaction Type: Investment
Investors: Shorooq Partners, Saudi Venture Capital Company, Saudi Technology Ventures, Olayan Financing Company, Sultan Holdings, Zain Ventures, Rua Growth Fund
Co-founders: Ahmad Alabdulkareem, Almaha Almalki, Anas Alfaris
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 Analytics startup Synapse Analytics raised $2 million.
Synapse Analytics, an AI company with a suite of products that help businesses adopt AI into their core operations, has raised $2 million in Seed funding round from Silicon Badia and Hub 71.
Transaction Type: Investment
Investors: Silicon Badia, Hub 71
Co-founders: Ahmed Abaza, Galal El Beshbishy
Headquarters: Egypt
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