Last week, there were 3 investments in the MENA between September 8 – 14:
Investments:
2 Kingdom of Saudi Arabia (KSA)
Bonus:
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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