Last week, there were 6 startup investments in the MENA between March 1 – 7:
Investments:
4 Kingdom of Saudi Arabia, 2 United Arab Emirates (UAE)
Sectors Received Investments:
1 SaaS & Predictive Analytics
1 HR Tech
1 Business Development
1 Construction Tech
1 Financial Services
1 Clean Tech
News of the Week
🎯 SaaS provider Salla raised $130 million.
Salla, which enables merchants to set up their e-commerce online shops within hours, has raised $130 million pre-IPO in funding round. The investment round was led by Investcorp, with participation from Sanabil Investment and STV.
Transaction Type: Investment
Investors: Investcorp, Sanabil Investments, STV
Co-founders: Nawaf Hariri, Salman Butt
Headquarters: Kingdom of Saudi Arabia
🎯 HR tech startup RemotePass raised $5.5 million.
RemotePass, which allows businesses to onboard, manage, and pay their talent, whereas they lack local legal presence, has raised $5.5 million in Series A funding round, led by 212 VC. Endeavor Catalyst, Khwarizmi Ventures, Oraseya Capital, Flyer One Ventures, Access Bridge Ventures, A15 and the Swiss Founders Fund also participated in the investment round.
Transaction Type: Investment
Investors: 212 VC, Endeavor Catalyst, Khwarizmi Ventures, Oraseya Capital, Flyer One Ventures, Access Bridge Ventures, A15, the Swiss Founders Fund
Co-founders: Kamal Reggad, Karim Nadi
Headquarters: United Arab Emirates (UAE)
🎯 Build-now-pay-later platform Buildnow raised $9.4 million.
Buildnow, a build-now-pay-later platform that supplies materials on credit terms tailored for the buyer while paying cash upfront to the SME suppliers, has raised $9.4 million in Seed funding round. The investment round was co-led by Raed Ventures and Khwarizmi Ventures, with participation from international VC’s and local angel investors, including Abdulla Elyas.
Transaction Type: Investment
Investors: Raed Ventures, Khwarizmi Ventures, angel investors
Co-founders: Hisham Al Saleh, Rahat Dewan, Abdulla Sheikh
Headquarters: Kingdom of Saudi Arabia
🎯 Construction tech startup BRKZ raised $8 million.
BRKZ, a construction tech company that provides a one-stop solution by selling building materials to contractors and builders, has raised $8 million in Series A funding round, co-led by 9900 and BECO Capital. Wa’ed Ventures, Knollwood Investment Advisory, RZM Investment and MISY Ventures also participated in the investment round.
Investors: 9900, BECO Capital, Wa’ed Ventures, Knollwood Investment Advisory, RZM Investment and MISY Ventures
Co-founders: Ibrahim Manna
Headquarters: Kingdom of Saudi Arabia
🎯 Fintech startup Rabeh raiased $800.000.
Rabeh, which provides in crowdfunding services and equity exchange, gas raised $800.000 in Seed funding round during LEAP 2024. Mjalis Investment Company and several angel investors also particiapted in the investment round.
Transaction Type: Investment
Investors: Mjalis Investment Companys, angel investors
Co-founders: Mohammed Al-Salmi
Headquarters: Kingdom of Saudi Arabia
🎯 Carbon management platform Zeroe $2.3 million.
Zeroe, which allows companies to measure emissions and report on decarbonisation performance through an AI-powered carbon management platform, has raised $2.3 million in Seed funding round from VOYAGERS ClimateTech Fund.
Transaction Type: Investment
Investors: VOYAGERS ClimateTech Fund
Co-founders: Farouk Jivani, Ali Najafian
Headquarters: United Arab Emirates (UAE)
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