Last week, there were 5 investments and 1 secondary transaction in the MENA between September 1 – 7:
Investments:
2 Egypt, 2 United Arab Emirates (UAE), 1 Morocco
Secondary Transactions:
1 United Arab Emirates (UAE)
Sectors Received Investments:
2 Fintech
1 Educational Technologies
1 Homeware
1 Gaming
News of the Week
🎯 Healthcare fintech company SehaTech raised $850.000.
Sehatech, which aims to automate medical approvals, claims processing and the billing cycle, has raised $850.000 from A15 and Beltone Venture Capital, a subsidiary of Beltone Financial Holding.
Transaction Type: Investment
Investors: A15, Beltone Venture Capital
Co-founders: Mostafa Tarek, Mohamed Elshabrawy
Country: Egypt
🎯 Fintech startup myZoi raised $14 million.
myZoi, a financial company that offers financial inclusion for banked and unbanked firms, has raised $14 million from SC Ventures and SBI Holdings.
Transaction Type: Investment
Investors: SC Ventures, SBI Holdings
Co-founders: Christian Buchholz, Syed Muhammad Ali
Country: United Arab Emirates (UAE)
🎯 Edtech startup Smartprof raised funding.
Smartprof, which connects students seeking academic support with qualified tutors, has raised funding from Fuzé. The investment amount was undisclosed.
Transaction Type: Investment
Investors: Fuzé
Co-founders: Hamza Faiz, Ali Faouzi, Mustapha Faiz
Country: Morocco
🎯 Digital-led home and décor company ariika completed Series A funding round.
ariika, a direct-to-consumer digital native furniture and homeware brand, has completed its Series A equity funding round. The investment round was joined by Beltone Venture Capital, a subsidiary of Beltone Financial Holding, through acquiring a 20% stake in the company.
Transaction Type: Investment
Investors: Beltone Venture Capital
Co-founders: Khaled Attallah
Country: Egypt
🎯 Web3 gaming platform GAM3S.GG raised $2 million.
GAM3S.GG, a Web3 gaming superapp that curates and creates content to spotlight the top games and showcases reviews, guides, news, quests and annual awards, has raised $2 million in Seed funding round, led by Mechanism Capital. Polygon, Double Peak, ArkStream Capital, LD Capital, ROK Capital, Hyperithm, Snackclub, Emurgo Ventures, Eden Ventures, Mix Marvel Ventures, 4SV, CommonWealth Capital, Venly Ventures, TKX Capital, SkyVision Capital, Compute Ventures and MarketAcross also participated in the investment round.
Transaction Type: Investment
Investors: Mechanism Capital, Polygon, Double Peak, ArkStream Capital, LD Capital, ROK Capital, Hyperithm, Snackclub, Emurgo Ventures, Eden Ventures, Mix Marvel Ventures, 4SV, CommonWealth Capital, Venly Ventures, TKX Capital, SkyVision Capital, Compute Ventures, MarketAcross
Co-founders: Omar Ghanem, Daniel Stockhaus
Country: United Arab Emirates (UAE)
🛒 Pulsar Capital acquires majority stake in TruDoc.
Mid-market investment fund Pulsar Capital has acquired majority stake in healthtech company TruDoc.
Transaction Type: Acquisiton
Investors: Pulsar Capital
Co-founders: –
Country: United Arab Emirates (UAE)
Other News:
📌 Endeavor Egypt has launched XceleRise, a scale-up programme to aid access to capital and market expansion for startups that promote sustainability, in partnership with GIZ Egypt.
📌 Seed and early-stage VC firm Flat6Labshas has selected 24 startups from Jordan, Lebanon and Iraq for its StartMashreq Growth Track programme, operating in different sectors. By joining the programme, the startups will have the ability to access new markets, scale their operations, provide more job opportunities and increase their impact on their respective economies.
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