#funding

Eclipse Foods

Prince Khaled’s KBW Ventures invests in US-based Eclipse Foods

The Oakland-based brand raised over $40m in Series B funding

Vamstar

Vamstar closes $9.5m funding to expand AI-enabled healthcare supply chain platform

Platform to simplify sourcing and procurement for hospital administrators and healthcare suppliers in the UAE

Huspy

UAE’s proptech Huspy receives $37m in Series A funding

Funds will accelerate Huspy’s expansion across EMEA and transform the future of home buying

cryptocurrency

Dubai’s crypto edtech Coinmarketpedia secures $2m to expand footprint

The funds will be used to enhance features, allow for investments in ecosystem partnerships and onboard industry experts

Turtlemint

Insurtech platform Turtlemint, raises $120m in Series E funding

Through a digital solution, the platform assists financial advisers in matching consumers with products that is suited for their needs, reducing the difficulties of paperwork

Zenda

MENA’s fintech school fee app, zenda, raises $9.4m in seed round

Zenda, is the first fintech app that lets parents to pay school fees with pay-now and pay-later options, and unlock rewards for paying on time

Saudi Arabia’s Foodics raises $170m in Series C round in MENA

The Series C funding was led by Prosus and Sanabil Investments, with participation by Sequoia Capital India and existing investors

The Food Lab, Egypt’s cloud kitchen operator, raises pre-seed round of $4.5m

Nuwa Capital, Shorooq Partners, and 4DX Ventures co-led the round, which comprised investors from all across the world

Dubai-based metaverse startup Eikonikos raises $2m in pre-seed funding

The company is currently in the process of issuing digital assets for investment as it gears up for commercial launch in May 2022

Justclean secures $6m funding led by Gulf Investment Corporation

The Gulf region’s $3bn cleaning industry is driven mostly by independent service providers

Buy-now-pay-later provider tabby secures $54m in funding

The investment will support tabby’s international expansion plans

Startup

How to avoid the six most common startup funding mistakes

Last year, UAE-based startups raised nearly $600m in venture funding alone

HSBC reclaims bond crown in Mideast

Following $122bn in debt sales in 2021, governments and companies will probably front-load much of their funding needs this year

Rolls-Royce to get Qatari funding for small nuclear reactors

Qatar will invest $112m in Rolls-Royce SMR, the separate unit created for the project

Saudi Aramco

Saudi Aramco’s Wa’ed invests SAR19m in fintech startup Lamaa

The Riyadh-based startup was established in March 2021 by entrepreneur Sumeet Khutale who has recently relocated from London to the kingdom

Zofeur

Dubai-based tech startup raises $500,000 in seed funding

The company was founded in July 2020 and now has over 50,000 users in Dubai alone is offering a unique pay per minute payment model

Singapore’s The Social Loan Company secures investment from Abu Dhabi’s ARI Holding

The new capital will be used to fuel the growth of its digital lending operations, deepen its AI and predictive analytics capabilities and grow its global talent pool

MENA’s proptech landscape: Primed for growth?

The evolving landscape will soon change the way adopting an innovative digital business model in the real estate market is viewed

Azimut and Gellify launch a $50m VC fund to support MENA startups

The new fund will focus on enhancing advanced technology-based innovation in the region, identifying and nurturing B2B tech startups

in5 dubai

Startups at Dubai’s in5 secure investments worth Dhs1.4bn

More than 150 new companies joined in5 since 2020, bringing the total number of startups supported by the incubator to 500

US-based 500 Startups closes largest fund to date

Firm expands strategy beyond accelerator and seed investments, doubles down on global thesis

Dubai healthy snack brand raises Dhs1.5m to further growth

The investment will support Koala Picks’ growth within the UAE

Kuwait asks ministries to cut spending by 10% amid budget gap

The OPEC member posted record $36bn budget deficit in 2020

Saudi automotive startup Speero closes $1.8m pre-series A funding round

Launched in 2017, Speero is a digital platform for automotive after-sales

Abu Dhabi’s ADQ and Qatar’s QIA among investors in latest Flipkart funding round

The latest funding round has boosted the Indian online retailer’s valuation to $37.6bn

Dubai cloud kitchen Kitopi becomes a unicorn after new $415m funding led by SoftBank

The deal marks one of the largest funding rounds for a Middle East technology company

eyewa

UAE startup eyewa raises $21m in Series B funding round

Eyewa aims to take its e-commerce model and expand into brick-and-mortar retail operations at key locations in the region

Co-Founders Urban Company

Urban Company raises $255m in Series F funding round

Founded in November 2014, the company with operations in several countries including the UAE and Saudi Arabia is now valued at $2.1bn

Crypto firms got more funding last quarter than in all of 2020

The funding surge is happening as Bitcoin hits record highs

Kuwait’s state oil company to seek up to $20bn of funding

Oil accounts for 90 per cent of Kuwait’s revenue