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Dubai-based online marketplace The Luxury Closet gets $8.7m funding

The financing was led by venture capital firm Middle East Venture Partners

Bahrain launches $1bn energy fund, venture capital fund of funds

Bahrain recently made its largest oil discovery in decades

UAE insurance start-up Aqeed goes live after $18m funding round

Aqeed plans to use the series A funds to penetrate the UAE and Saudi markets

Abu Dhabi’s Fikra Labs announces winners of first start-up programme

The four-week programme pairs government entities with start-ups

Saudi YouTube start-up Telfaz11 raises $9m

The company said it would use the funds to grow its creative and advertising offerings


A new way of starting up in the UAE

Launched in February, Etisalat’s Hello Business Hub aims to remove obstacles involved in launching a business in the UAE

Dubai’s AstroLabs opens second co-working space for start-ups

The expansion more than double’s AstroLab’s co-working footprint

Abu Dhabi Financial Group invests in Silicon Valley VC 500 Startups

500 said ADFG would be “injecting substantial capital” to support expansion into new markets

UAE telco du launches start-up challenge for Emirati students

The UAE has seen a flurry of start-up competitions and accelerators established in recent months

Dubai rental start-up RentSher closes $600,000 seed funding round

RentSher allow customers to choose items to rent online and have them delivered to their door and collected later