Last week, there were 6 startup investments in the MENA between May 31 – June 6:
Investments:
3 United Arab Emirates (UAE), 2 Kingdom of Saudi Arabia (KSA), 1 Morocco
Sectors Received Investments:
1 Agriculture & E-Commerce
1 Agriculture & Renewable Energy
1 Business Intelligence & Software
1 Financial Services
1 Generative AI
1 Banking
News of the Week
🎯 Agritech startup YoLa Fresh raised $7 million.
YoLa Fresh, which connects farmers directly with retailers and food service companies, leading to higher farmer and retailer incomes, reduced food spoilage, and fresher, more affordable options for consumers, has raised $7 million in pre-Series A funding round, led by Al Mada Ventures. Algebra Ventures, E3 Capital, Janngo Capital and FMO also participated in the investment round.
Transaction Type: Investment
Investors: Al Mada Ventures, Algebra Ventures, E3 Capital, Janngo Capital, FMO
Co-founders: Youssef Mamou, Larbi Alaoui Belrhiti
Headquarters: Morocco
🎯 Farming technology provider iyris raised $16 million.
iyris, which addresses global food security challenges while minimising environmental impact, has raised $16 million in Series A funding round. The investment round was led by Ecosystem Integrity Fund, with participation from Global Ventures, Dubai Future District Fund (DFDF), Kanoo Ventures, Globivest and Bonaventure Capital.
Transaction Type: Investment
Investors: Ecosystem Integrity Fund, Global Ventures, Dubai Future District Fund (DFDF), Kanoo Ventures, Globivest, Bonaventure Capital
Co-founders: Ryan Lefers, Derya Baran, Mark Tester
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 SaaS platform Growdash raised $1.8 million.
Growdash, which enables restaurant marketing and operational teams to build, execute and manage profitable growth strategies across digital sales channels, has raised $1.8 million in Seed funding round from Oryx Fund and Oraseya Capital.
Transaction Type: Investment
Investors: Oryx Fund, Oraseya Capital
Co-founders: Sean Trevaskis, Enver Sorkun
Headquarters: United Arab Emirates (UAE)
🎯 Financial management solutions provider SiFi raised $10 million.
SiFi, a B2B spending management platform that offers solutions including smart corporate cards, real-time insights into corporate spend, and automated expense management workflows, has raised $10 million in Seed funding. The investment round was led by Sanabil Investments, Public Investment Fund and RAED Ventures, with participation from Rua Ventures, Byld, KBW Ventures, Khwarizmi Ventures, Seedra Ventures and Tech Invest Com.
Transaction Type: Investment
Investors: Sanabil Investments, Public Investment Fund, RAED Ventures, Rua Ventures, Byld, KBW Ventures, Khwarizmi Ventures, Seedra Ventures, Tech Invest Com
Co-founders: Ahmed Alhakbani
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 GenAI native platform qeen.ai raised $2.2 million.
qeen.ai, which provides accessible and autonomous AI solutions tailored to e-commerce businesses, has raised $2.2 million in pre-Seed funding round, led by Wamda Capital. 10x Founders, Aditum, Dara Holdings, Jabbar Group, Phaze Ventures and Eureka 460 also participated in the investment round.
Transaction Type: Investment
Investors: Wamda Capital, 10x Founders, Aditum, Dara Holdings, Jabbar Group, Phaze Ventures, Eureka 460
Co-founders: Dina Alsamhan, Ahmad Khwileh, Morteza Ibrahimi
Headquarters: United Arab Emirates (UAE)
🎯 Financial solutions provider Elevate raised $5 million.
Elevate, which offers financial solutions for remote workers and freelancers in emerging markets to better manage their finances, has raised $5 million in pre-Series A funding round.
Transaction Type: Investment
Investors: –
Co-founders: Faris Keenan, Khalid Keenan, Youcef Oudjidane
Headquarters: United Arab Emirates (UAE)
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