Weekly Startup Ecosystem Overview in the Middle East and North Africa (MENA) / September 8 – 14

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Last week, there were 3 investments in the MENA between September 8 – 14:


2 Kingdom of Saudi Arabia (KSA)


1 KSA-based VC firm invests in a US-based construction technology startup.

Sectors Received Investments:

1 Foodtech

1 Logistics

1 Construction Technology

News of the Week

🎯 Food delivery platform Barakah raised $1.5 million.

Barakah, which helps restaurants, bakeries, and groceries fight food waste by enabling them to sell their surplus inventory through its app, has raised $1.5 million in Seed funding round, led by Hambro Perks Oryx Fund. 500 Global, +VC, KAUST Innovation Ventures, Annex Investments and several angel investors also participated in the investment round.

Transaction Type: Investment

Investors: Hambro Perks Oryx Fund, 500 Global, +VC, KAUST Innovation Ventures, Annex Investments, angel investors

Co-founders: Rabah Habiss, Munira Al Muammar, Abdulaziz Al Saud

Headquarters: Kingdom of Saudi Arabia (KSA)

🎯 Heavy equipment marketplace Equiptal raised $1 million.

Equiptal, which offers a SaaS-enabled heavy equipment marketplace where contractors can connect directly with suppliers, has raised $1 million in pre-Seed funding round from Plug and Play Middle East and a group of angel investors.

Transaction Type: Investment

Investors: Plug and Play Middle East, angel investors

Co-founders: Ali Merie, Mansour Hmaid

Headquarters: Kingdom of Saudi Arabia (KSA)

🎯 Construction technology startup Mighty Buildings raised $52 million.

KSA-based VC firm Wa’ed Venture has co-led a $52 million in a funding round in the US-based construction technology startup Mighty Buildings, with BOLD Capital. The investment round was also joined by Khosla Ventures.

Transaction Type: Investment

Investors: Wa’ed Venture, BOLD Capital, Khosla Ventures

Co-founders: Alexey Dubov, Dmitry Starodubtsev, Sam Ruben, Vyacheslav Solonitsyn

Headquarters: United States (US)

Other News:

📌 UAE-based fintech fund VentureSouq has raised $5 million from Saudi Venture Capital (SVC). The investment will go towards VentureSouq’s recently launched fintech fund

📌 Charity platform Thrift for Good has won a $50.000 grant from She’s Next programme, organised by Visa and First Bank of Abu Dhabi

📌 Dubai Integrated Economic Zones Authority (DIEZ) has partnered with the Massachusetts Institute of Technology (MIT) to launch the MIT DesignX Dubai accelerator, to invest in sustainability and cleantech startups.

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