Last week, there were 4 startup investments in the MENA between November 22 – 28:
Investments:
2 Egypt, 1 United Arab Emirates (UAE), 1 Morocco
Sectors Received Investments:
1 Eyewear & Retail
1 E-Commerce & Marketplace
1 Consumer Goods & Home Decor
1 Financial Services
News of the Week
🎯 Eyewear retailer eyewa raised $100 million.
Online eyewear retailer eyewa, has raised $100 million in Series C funding round. The investment round was led by General Atlantic, with participation from Badwa Capital and Turmeric Capital.
Investors: General Atlantic, Badwa Capital, Turmeric Capital
Co-founders: Mehdi Oudghiri, Anass Boumedien
Headquarters: United Arab Emirates (UAE)
🎯 Online marketplace Sylndr has raised $7.46 million.
Sylndr which allows customers to buy and sell their cars as well as find financing solutions, has raised $7.46 million from EFG Hermes, EGbank, EFG Corp-Solutions and other investors.
Transaction Type: Investment
Investors: EFG Hermes, EGbank, EFG Corp-Solutions, other investors
Co-founders: Amr Mazen, Omar El Defrawy
Headquarters: Egypt
🎯 Furniture e-commerce platform ariika has raised $3 million.
ariika, a home décor direct-to-consumer (D2C) e-commerce platform that partners with artisans from around the world to create and curate modern décor brands, has raised $3 million in Series A extension round, led by Beltone Venture Capital and Citadel International Holdings.
Transaction Type: Investment
Investors: Beltone Venture Capital, Citadel International Holdings.
Co-founders: Khaled Attallah, Shahir Arslan
Headquarters: Egypt
🎯 Fintech startup Premium Technology & Services raised $500.000.
PTS, which offers advanced tools for digitising traditional banking cards, tailored to the evolving needs of banks and businesses, has raised $500.000 from BMCE Capital Investments.
Transaction Type: Investment
Investors: BMCE Capital Investments
Co-founders: Samir Younes
Headquarters: Morocco
Other News of the Week:
📌 Iraq-based edtech Eduba has acquired by an undisclosed telecommunications conglomerate for a seven-figure amount.
📌 Saudi Arabia-based investment company Naif Al Rajhi Investment has invested in Jordan’s AI Arabic content platform Mawdoo3 for a strategic stake.
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