Hello MENA founders and entrepreneurs!

We’re back with another roundup of exciting funding news, impactful partnerships, and emerging trends shaping our ecosystem.

Let’s see what’s new across the region this week.

Fundraising Roulette

TAP (Palestine) raised $1M to expand job creation in Palestine, Jordan, and Lebanon

Jeel Pay (KSA/Fintech) secured $6.6M in Pre-Series A funding to grow its digital payment solutions

Revie (KSA) closed a $2.5M Seed round, boosting its market innovation in the Kingdom

Wa’ed Ventures (KSA) invested in Zension Technologies as part of a $30M Series A round

Yalla Sponsor (KSA) acquired Rooaat (KSA), reinforcing its sponsorship platform in Saudi Arabia

MilkStraw AI (UAE) raised $600K in a pre-seed round to speed up its MENA expansion

Mubadala Capital (UAE) joined a $200M round in Tenvie4, further driving technology investments in the region

Main Headlines

PIF (KSA) invested $200M in a JP Morgan fund

Energy Capital Group (KSA) closed a $161M investment fund, targeting energy-focused projects in the Kingdom

Ezditek (KSA) & Gcore launched a joint venture to build an AI factory in Riyadh

Lenovo finalised a $2B agreement to open a PC factory in Saudi Arabia

FIA Ventures launched at DIFC, offering funding and strategic support to startups

G42 (UAE) & Microsoft announced a $1B digital investment in Kenya

MGX (UAE) joined a consortium aiming to invest $100B in AI infrastructure, advancing global innovation

Ecosystem Updates

Mintiply Capital partnered with Fuel VC to strengthen the entrepreneurial scene in the GCC

Orbit Startups & Sanabil Investments launched a new accelerator, supporting emerging ventures across MENA

Cycle 1 of the Catalyst Accelerator began in the UAE

Core Istanbul teamed up with Building Market to enhance SME development in Istanbul

JoPACC & ISSF unveiled a new incubation program, boosting Fintech startups in Jordan

Berytech is seeking expert consultants to support SMEs in Lebanon, helping them scale and innovate

Startup Highlights

Nice One (KSA) debuted on TASI at SAR 35 per share

PayMint (Egypt) gained approval to launch the Meeza Prepaid Card in partnership with ADIB Egypt

Qashio (UAE) partnered with Visa to invest AED 100 million, supporting digital payment growth in the region

Noqodi collaborated with Checkout.com to transform payment services across the UAE

Purpl & Careem Pay launched instant low-cost money transfers from the UAE to Lebanon

Open For Application

Flat6Labs Seed Program | Jordan & Palestine

Offers mentorship, seed funding, and market access to early-stage startups in Jordan and Palestine

Orange Corners Pre-Acceleration Program | Palestine

Helps early-stage founders refine their business models and develop vital entrepreneurial skills

Launchpad with Google | Palestine

Provides training, mentorship, and networking opportunities for tech startups aiming to grow

Madarek Ideation Program | Oman

Supports aspiring entrepreneurs through idea validation, business modeling, and product development

Orange Corners Acceleration Program | Algeria

A platform to scale innovative businesses, offering training, mentorship, and networking resources

Call for Lebanese Startups | Viva Tech

Apply to join the Lebanese pavilion at Viva Tech and showcase your solutions to a global audience

Call for Tunisian AI Startups | NVIDIA GTC 2025

Participate at NVIDIA GTC 2025 to highlight Tunisia’s emerging AI solutions and connect with international tech leaders

DDX Award ($1M Award) | Dubai/Global

Invites startups from around the world to compete for a chance at $1 million in funding and global recognition

Cool Events

• AI Salon Dubai | 14/1 Dubai

• World Future Energy Summit | 14-16/1 Abu Dhabi

• Angel Investing 360: The Essentials | 14/1 Riyadh

• Expanding to Saudi Arabia: Breaking Down Costs for 2025 | 15/1 Virtual

• State of Venture Capital in 2024 | 15/1 Virtual

• Flat6Labs Seventh Demo Day in Amman | 15/1 Amman

• How to Get Started & Scale in E-commerce | 16/1 Dubai

• The Art and Science of Storytelling | 16/1 Dubai

• Founders Live Cairo | 18/1 Cairo

• Entering the UK Market for MENA Startups & Founders | 28/1 Virtual

Techy Bytes

Dubai launched an AI Charter and appointed 22 Chief AI Officers

Abu Dhabi formed an AI and Advanced Technology Council to strengthen next-generation innovation

Jordan introduced a blockchain policy to modernize public services and promote economic growth

Qatar launched its first AI-based personal assistant for physical tasks

Oman initiated a project to measure how the digital economy contributes to GDP

Morocco introduced the DigiSchool Initiative with Huawei to enhance digital education

Algeria plans to launch a mobile payment system in January 2025, further driving digital transformation