Weekly Startup Ecosystem Overview in the Middle East and North Africa (MENA) / June 2 – 22

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Last 3 weeks, there were 6 investments and 5 secondary transaction in the MENA between June 2 – 22:


2 Egypt, 1 Kingdom of Saudi Arabia (KSA), 1 Oman, 1 Morocco


2 Kingdom of Saudi Arabia (KSA), 2 United Arab Emirates (UAE), 1 Egypt


1 Egypt-based VC firm invested in a UK-based startup.

Sectors Received Investments:

3 Logistics

1 B2B / Automotive

1 SaaS

1 Fintech

News of the Week

🎯 Logistics marketplace Trella raised funding.

Trella, a B2B technology platform and trucking marketplace that connects shippers with carriers in the highly fragmented freight industry, has raised $3.5 million Avanz Capital Egypt.

Transaction Type: Investment

Investment Amount: $3.500.000

Investors: Avanz Capital Egypt

Co-founders: Omar Hagrass, Ali El Atrash, Pierre Saad, Muhammad El Garem

Country: Egypt

🎯 International transport company Colis.ma raised funding.

Logistics startup Colis.ma, has received $50.000 from The Baobab Network.

Transaction Type: Investment

Investment Amount: $50.000

Investors: The Baobab Network

Co-founders: Issam Darui

Country: Morocco

🎯 Smart logistics platform HashMove raised funding.

Multi-modal smart logistics platform HashMove, received an investment in pre-Series A funding round, led by Bunat Ventures in collaboration with a Saudi business group.

Transaction Type: Investment

Investment Amount: 

Investors: Bunat Ventures, other investors

Co-founders: Noman Mohammad, Rayan Al Bakri, Sarfaraz Alam

Country: United Arab Emirates (UAE)

🎯 Automotive platform Autobia raised funding.

Autobia, a B2B marketplace that solves the infrastructure and after-sales challenges in the automotive industry, has raised $2.5 million in Seed funding round. The investment round was led by Sadu Capital, with participation from Wa’ed Ventures by Aramco, Raz Holding, Techstars, and a group of angel investors.

Transaction Type: Investment

Investment Amount: $2.500.000

Investors: Sadu Capital, Wa’ed Ventures, Raz Holding, Techstars, angel investors

Co-founders: Emad Daghreri, Ahmed Alawfi

Country: Kingdom of Saudi Arabia (KSA)

🎯 SaaS platform Byanat raised funding.

Byanat, which provides a SaaS analytics platform that combines connectivity management, device management and analytics, has raised an undisclosed amount in Seed funding round from 500 Global, Sanabil Investments, Omantel, Al Jabr MENA, and other angel investors.

Transaction Type: Investment

Investment Amount: 

Investors: 500 Global, Sanabil Investments, Omantel, Al Jabr MENA, angel investors

Co-founders: Ahmed Albadi, Ahmed Alghadani

Country: Oman

🎯 Fintech startup Agel raised funding.

Agel, which aims to provide alternative financing solutions that cater MSMEs unique needs, received an investmet in pre-Seed funding round. The investment round was led by Seedstars, Plus Venture Capital and Flat6Labs. SEEDRA Ventures, Banque Misr Acceleration and angel investors also participated.

Transaction Type: Investment

Investment Amount: 

Investors: Seedstars, Plus Venture Capital, Flat6Labs, SEEDRA Ventures, Banque Misr Acceleration, angel investors

Co-founders: Abdelrahman Saeed, Ahmed El Sherbiny

Country: Egypt

🎯 Medtech startup Precision Cardiovascular raised funding.

Precision Cardiovascular, a unique sensor system for remote monitoring of patients with acute heart failure, has raised $750.000 in Seed funding round from Acasia Ventures and Arige Ali.

Transaction Type: Investment

Investment Amount: $750.000

Investors: Acasia Ventures, Arige Ali

Co-founders: David Hampton, Mohamed Abou-Alam

Country: United Kingdom (UK)

🛒 Floranow acquires Bloomax.

B2B floral marketplace Floranow has acquired wholesale distributor of fresh-cut flowers Bloomax.

Transaction Type: Acquisition

Investors: Floranow

Co-founders: –

Country: Kingdom of Saudi Arabia (KSA)

🛒 Arkan United, acquired by Rology.

Egypt-based ai-assisted on-demand teleradiology platform Rology has acquired teleradiology provider Arkan United.

Transaction Type: Acquisition

Investors: Rology

Co-founders: Tarik Baeshen

Country: Kingdom of Saudi Arabia (KSA)

🛒 NymCard acquires Spotii.

UAE-based fintech Nymcard has acquired a buy now pay later startup Spotii.

Transaction Type: Acquisition

Investors: Nymcard

Co-founders: Anuscha Iqbal, Ziyaad Ahmed

Country: United Arab Emirates (UAE)

🛒 GroCart, acquired by Instashop.

Online marketplace Instashop has acquired B2B marketplace GroCart.

Transaction Type: Acquisition

Investors: Instashop

Co-founders: Hussein Hosni, Neusma Zaghow

Country: United Arab Emirates (UAE)

🛒 The Fashion Kingdom acquires Opio.

Fashion e-commerce marketplace The Fashion Kingdom has acquired clothing brand Opio.

Transaction Type: Acquisition

Investors: The Fashion Kingdom

Co-founders: Shady Mokhtar

Country: Egypt

Other News:

📌 Egypt’s Acasia Ventures, formerly Cairo Angels, has opened an office in Lagos, Nigera, in an effort to expand the firm’s reach and scope in the country.

📌 Saudi Arabia-based Nama Ventures led a pre-Seed funding round for Nigeria-based logistics startup, Messenger, and participated in a $3.6 million round for Termii, a customer engagement solutions provider.

📌 US-based tech investor Plug and Play Tech Center has announced a new $100 million fund to support tech startups in Saudi Arabia.

📌 Saudi Venture Captial (SVC) has invested $30 million in Shorooq Partner’s recently launched $150 million Bedaya Fund II.

📌 Jada Fund of Funds, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF) has invested in Bahrain’s Investorcorp, a $500 million pre-IPO growth fund.

📌 Saudi Arabia and South Korea will establish a joint fund worth US$160 million to support startups in South Korea and Saudi Arabia.

📌 The Greek Campus has announced a merger with MQR, a facilities management services provider. This merger will enable to establish the largest member community of entrepreneurs in Egypt.

📌 Google has announced the launch of cleantech accelerator programme called Google for Startups Accelerator: Climate Change, aims to back startups focused on sustainable technology climate solutions, cleantech and green energy, across the Middle East and Africa.

📌 DMZ Cairo has partnered with the Export Development Bank of Egypt (EBank) to launch a fintech bootcamp for early-stage Egyptian startups.

📌 Emirates Development Bank (EDB) has launched an agritech-focused $27 million lending programme. The programme is targetted at farmers, local producers, technology providers, equipment suppliers and those involved in the agriculture support ecosystem.

📌 Ten startups have graduated from the Flat6Labs Riyadh accelerator programme’s first batch. The graduated startups offer solutions across e-commerce, proptech, fintech, edtech, entertainment and SaaS.

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