Last week, there were 6 investments and 1 secondary transaction in the MENA between July 7 – 13:
Investments:
2 Egypt, 2 United Arab Emirates (UAE), 1 Bahrain, 1 Kingdom of Saudi Arabia (KSA)
Acquisitions:
1 United Arab Emirates (UAE)
Bonus:
1 UAE-based investment platform invested in US-based startup.
Sectors Received Investments:
2 E-Commerce
1 Advertising
1 Fintech
1 Health Tech
1 Food Tech
News of the Week
🎯 Refurbished-electronics startup Revibe raised funding.
Revibe, which offers a B2C marketplace for refurbished electronics, has raised $2.3 million. The investment round was led by Resonance and Flat6Labs, with participation from Techmind, Financiere Saint James and angel investors.
Transaction Type: Investment
Investment Amount: $2.300.000
Investors: Resonance, Flat6Labs, Techmind, Financiere Saint James, angel investors
Co-founders: Abdessamad Benzakour, Hamza Iraqui
Country: United Arab Emirates (UAE)
🎯 Online marketplace Exits.ME raised funding.
Exits.me, a regional online marketplace where individuals and business owners can buy and sell websites, apps, traditional businesses, has raised $1.25 million. The investment round was led by Practical Venture Capital.
Transaction Type: Investment
Investment Amount: $1.250.000
Investors: Practical Venture Capital
Co-founders: Mohamed Aboul Naga, Ahella El Saban, Ayman El Tanbouly
Country: Egypt
🎯 Online education application Unipal raised funding.
Unipal, which provides university students access to tailored discounts and promotions through a digital identification, has raised a $500.000 from Tenmou, Flat6Labs, GTS and angel investors.
Transaction Type: Investment
Investment Amount: $500.000
Investors: Tenmou, Flat6Labs, GTS, angel investors
Co-founders: Ali Alalawi, Ali Al Shaer
Country: Bahrain
🎯 Digital savings platform Menthum raised funding.
Menthum, a B2B and B2C digital savings platform that enables individuals and companies to invest in safe treasury bills (T-bills) through a money market fund, has raised pre-Seed funding from Acasia Ventures, A15 and angel investors.
Transaction Type: Investment
Investment Amount: –
Investors: Acasia Ventures, A15, angel investors
Co-founders: Himanshu Shrimali, Ismail Sarhank
Country: Egypt
🎯 Chronic illness management platform Alma Health raised funding.
Alma Health, a digitally-native chronic illness management platform, has raised $10 million in Series A funding round. The investment round was co-led by Knuru Capital and Hambro Perks Oryx Fund, with participation from e& capital, S3 Ventures, Pinnacle Capital and Khwarizmi Ventures.
Transaction Type: Investment
Investment Amount: $10.000.000
Investors: Knuru Capital, Hambro Perks Oryx Fund, e& capital, S3 Ventures, Pinnacle Capital, Khwarizmi Ventures
Co-founders: Tariq Seksek, Khaldoon Bushnaq
Country: United Arab Emirates (UAE)
🎯 Foodtech startup Kaso raised funding.
Food supply ordering platform Kaso, has raised $10.5 million in Seed funding round from Spade Ventures, Hala Ventures, Seedra Ventures, Cyfr Capital, BY Venture Partners, Pioneer Fund and Vulpes Ventures.
Transaction Type: Investment
Investment Amount: $100.500.000
Investors: Spade Ventures, Hala Ventures, Seedra Ventures, Cyfr Capital, BY Venture Partners, Pioneer Fund, Vulpes Ventures
Co-founders: Manar Alkassar, Ahmed Soliman
Country: Kingdom of Saudi Arabia (KSA)
🎯 Tech-enabled support infrastructure solution Mascotte Health raised funding.
Mascotte Health, which provides veterinary clinics with tech-enabled support infrastructure solutions, including virtual triage and customer experience, has raised $1.2 million in pre-Seed funding round. The investment round was led by UAE-based Nuwa Capital.
Transaction Type: Investment
Investment Amount: $1.200.000
Investors: Nuwa Capital
Co-founders: Bora Hamamcioglu
Country: United States (US)
🛒 EDGE Group acquires OryxLabs.
Technology and defence group EDGE Group has acquired digital risk protection and cyber security services provider OryxLabs.
Transaction Type: Acquisition
Investors: EDGE Group
Co-founders: –
Country: United Arab Emirates (UAE)
Other News:
📌 Egypt-based e-commerce platform Rabbit has announced the aunch of RabbitAI, a revolutionary AI-powered shopping assistant powered by OpenAI’s ChatGPT.
📌 UAE-based food and beverage company Agthia Group PJSC has launched a $54 million VC fund called Agthia Ventures.
📌 Cards as a service (CaaS) platform SimpliFi and Hub71 startup Lune have signed a partnership that will harness the power of artificial intelligence (AI) to drive transformative outcomes for businesses in the region.
📌 Multi-stage venture capital firm 500 Globalnd The Egyptian Information Technology Industry Development Agency (ITIDA) has announced the launch of 500 Global first batch of the Scale Up program in Egypt. The Scale Up program will focuse on providing strategies and experimentation methodologies to accelerate growth for Pre-Series A startups in Egypt.
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