#29 This week In MENA's Startup Scene 🚀

Dive into the latest Startup News, Trends & Opportunities shaping the MENA region

Maxim Hamida
August 26, 2024

Welcome back to this week’s MENA startup roundup! As always, we’ve got you the latest on funding, tech innovations, and upcoming events.

Let’s get started!

Mithu (KSA/Loyalty) closed a $500,000 pre-seed funding round
E Daddy (UAE/Mobility) secured a substantial $15M to expand across the GCC and Africa
NoorNation (Egypt/Climatech) raised an undisclosed amount
Cairn Surgical (Lebanon/Medtech) secured $4.5 million
Tenmou (Bahrain) invested in Tajweed (Edtech) and Travilege (Traveltech)
Meteora (UAE) acquired Maisour (UAE/Proptech)
Sakan (Kuwait) acquired hapondo (Qatar/Proptech)
Mubadala acquired Yondr data center

Qatar announced a reduction in licensing fees for home businesses, aiming to simplify procedures and boost entrepreneurship
184 foreign companies moved their regional HQs to Saudi Arabia during the first half of 2024
Gate Ventures and Blockchain Center launched a $100 million fund in Abu Dhabi, focusing on blockchain and fintech innovations
UAE launched an ICT regulatory sandbox to foster innovation and legal adaptability in the tech sector
Wages in Dubai could now be paid in cryptocurrency if the terms are clearly defined, according to a recent ruling
Egyptians ranked third and Syrian fourth in establishing new companies in Dubai in 2024
Egypt’s government approved new private health investment

SPARK seeking Outreach Partners to enhance youth employment and entrepreneurship initiatives across the GCC and Egypt
Orange Corners launched the Innovation Fund (OCIF), with Intersect receiving the subsidy round to support entrepreneurship in Palestine
Ma’an has unveiled its latest social incubator cohort in UAE
Rasmal Ventures introduced the Open Door VC initiative
1957 Ventures Fund launched 1957 Ventures in Saudi Arabia
Industry veteran Mohamed El Sheakh has established Games Ventures

BEANZ (UAE/Foodtach) revolutionizing coffee culture in the UAE
barq (KSA/Fintech) hits 1 million users in just three weeks
Mamun (Oman/Fintech) crossed the RO1 million mark in shari'a-compliant financing
Sav (UAE/Fintech) launched MyMoney, a new tool for better money management
Healthstay.IO (UAE/Saas) introduced the world’s first AI-powered booking management system

Llama Design Drive Acceleration Program | UAE, KSA, Egypt
A design-driven program offering mentorship and funding opportunities
MITdesignX Cohort 2 | Dubai
Transform creative ideas into scalable ventures with MIT resources
The Tank OT Cybersecurity Challenge | Jordan
A cybersecurity challenge focused on operational technology with an opportunity to win cash prizes and collaborate with leading cybersecurity firms
MRTB Programs 3rd Edition | Morocco
Supporting Moroccan tech startups with mentorship and funding
Baobab Accelerator | Africa
A pan-African accelerator providing growth-stage startups with funding up to $50,000
Spring Studios Launchpad Batch #002 | Remote
A remote program focused on product development and market strategies

Emirati AI expert Dr. Ebtesam Almazrouei was named in the global AI 100 list
UAE Dirham-Pegged Stablecoin was launched
EAD (UAE) launched a landmark environmental study with AI and drone technology
Cleveland Clinic Abu Dhabi achieved a medical breakthrough with the first simultaneous robotic kidney transplant procedure for both donor and recipient
Bahrain reached a new milestone by achieving 89% digital transformation in E-Government services,

That’s all for this edition! We hope you’re inspired by these updates and look forward to bringing you more next week.

Until then,

The Startup3lMashi ستارتب على الماشي Team