Weekly Startup Ecosystem Overview in the Middle East and North Africa (MENA) / October 26 – 31

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Last week, there were 3 startup investments in the MENA between October 26 – 31:

Investments: 

2 Kingdom of Saudi Arabia (KSA), 1 Qatar

Sectors Received Investments:

1 Delivery

1 B2B & Marketplace

1 Proptech

News of the Week

🎯 Instant delivery platform Pass raised $2.7 million.

Pass, which provides fast and reliable delivery services, has raised $2.7 million in pre-Series A funding round from undisclosed investors.

Transaction Type: Investment

Investors:

Co-founders: Bashar Jaber

Headquarters: Qatar

🎯 E-commerce platform Nabt raised $1.5 million.

Nabt, which operates a B2B marketplace connecting farmers directly with businesses, has raised $1.5 million in Seed funding round. The investment round was led by Merak Capital, with participation from angel investors.

Transaction Type: Investment

Investors: Merak Capital, angel investors

Co-founders: Abdullah Alotaibi

Headquarters: Kingdom of Saudi Arabia (KSA)

🎯 Proptech startup ARK raised $1 million.

ARK, which ensures lucrative returns on real estate investments, has raised $1 million in pre-Seed funding round from Core Vision Investment.

Transaction Type: Investment

Investors: Core Vision Investment

Co-founders: Waheed Al Jassas

Headquarters: Kingdom of Saudi Arabia (KSA)

Other News of the Week:

📌 Innovative Startups and SMEs Fund (ISSF) has invested $5 million in Rua Growth I LP to invest in Jordanian startups.

📌 Gulf Islamic Investments (GII) has added an additional $100 million growth capital to the group’s balance sheet to develop private equity opportunities across the Kingdom of Saudi Arabia and the GCC.

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