Weekly Startup Ecosystem Overview in the Middle East and North Africa (MENA) / October 13 – 19

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Last week, there were 5 investments and 1 secondary transactions in the MENA between October 13 – 19:


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

Secondary Transactions:

1 Kingdom of Saudi Arabia

Sectors Received Investments:

1 E-Commerce / Gifting

1 Augmented Reality / Hardware

1 Clean Tech

1 Training

1 Fintech

News of the Week

🎯 Gifting marketplace Share the Love raised funding.

Personalised greeting card and gift e-commerce store Share the Love, has completed a Seed funding round. The investment round was joined by angel investors.

Transaction Type: Investment

Investors: Angel investors

Co-founders: Billy Blackford

Headquarters: United Arab Emirates (UAE)

🎯 Deep tech startup Xpanceo raised $40 million.

Xpanceo, a deeptech startup that develops the next generation of computing via an invisible and weightless smart contact lens, has raised $40 million in Seed funding round, led by Opportunity Ventures.

Transaction Type: Investment

Investors: Opportunity Ventures

Co-founders: Valentyn S. Volkov, Roman Axelrod

Headquarters: United Arab Emirates (UAE)

🎯 Carbon management and accounting platform Olive Gaea raised $1 million.

Olive Gaea, an ai-powered SaaS platform for carbon carbon accounting, decarbonization and Net Zero, has raised $1 million from Cornerstone Venture.

Transaction Type: Investment

Investors: Cornerstone Venture

Co-founders: Vivek Tripathi

Headquarters: United Arab Emirates (UAE)

🎯 Educational technologies startup Crafty Workshop raised $400.000.

Crafty Workshop, which offers an arsenal of online technical and pedagogical workshops and courses aimed at artisans and craftspeople, has raised $400.000 in Seed funding round, led by EdVentures.

Transaction Type: Investment

Investors: EdVentures

Co-founders: (arm of Nahdet Misr Group)

Headquarters: Egypt

🎯 Fintech startup Takadao raised $1.6 million.

Takadao, which offers its users two Shariah-compliant blockchain-based services, savings and loans and cooperative life insurance, has raised $1.6 million in pre-Seed funding round. The investment round was led by Tim Draper, with participation from BIM, Core Vision Ventures and Prince Sultan bin Fahad bin Salman Al Saud.

Transaction Type: Investment

Investors: Tim Draper, BIM, Core Vision Ventures, Prince Sultan bin Fahad bin Salman Al Saud

Co-founders: Sharene Lee, Morrad Irsane

Headquarters: Kingdom of Saudi Arabia

🛒 CashIn acquires Cardless.

Saudi Arabia-based online payment platform CashIn has acquired comprehensive digital payment platform Cardless.

Transaction Type: Acquisition

Investors: CashIn

Co-founders: Scott Kazmierowicz, Michael Spelfogel

Headquarters: United States (US)

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