Hello MENA founders and entrepreneurs!

This week, the MENA startup scene has been buzzing with exciting funding rounds, impactful acquisitions, and major ecosystem developments

Let’s dive into it!

Fundraising Roulette

Teammates.ai (UAE/AI), previously Uktob.ai, secured funding and rebranded to focus on enterprise-grade AI solutions

Opteam (UAE/Contech) raised a pre-seed round led by Plus VC, with other investors including Dar Ventures

Jingle Pay (UAE/Fintech) sold a 9.9% stake to Bank Alfalah. Jingle pay allows users to store, spend, and send money to over 160 countries in more than 99 currencies

LivLyt (UAE/SaaS) has been acquired by ZenAdmin, a Singapore-based company

Further Ventures, backed by Abu Dhabi’s sovereign wealth fund ADQ, led a $16M round for Dfns (France)

Abu Dhabi Investment Authority (ADIA) invested in Inari (USA), as part of a $144M equity round at a $2.17B valuation

Rize (KSA/Fintech) has raised $35M in a Series A round

Halo AI (KSA/AI-Networking) has secured $6M in a seed round led by Raed Ventures and Shorooq Partners

Amwal (KSA/Fintech) has raised $4M in seed funding to further develop its payment processing solutions

Wilow (KSA/Saas) has closed an undisclosed pre-seed funding round

Qatar Investment Authority (QIA) has invested in Instabase (USA) as part of its $100 million Series D funding round

Washminute (Morocco/Cleantech) has raised $600k in funding to scale its innovative on-demand laundry service

Raseedi (Egypt) has acquired Kashat (Egypt) to broaden its financial service offerings

The Central Bank of Egypt (CBE) has invested $24.5M in eight FinTech startups as part of its FinTech Innovation Program

Main Headlines

Sigma Capital has introduced its first fund, Sigma Capital Fund I, with a $100M target to accelerate Web3 innovation

Sequence Ventures is preparing to launch a $50M Africa Deeptech Fund, aimed at supporting deep technology startups across the continent

Shorooq Partners (UAE) has committed to invest $9M in two content creation ventures

Saudi Arabia is preparing to enter the global lithium market

Oman has launched Zone 88, a hub designed to advance the space industry and drive technological innovation

Bahrain and Oman have signed 25 agreements span various sectors, including trade, energy, and tourism

Jordan has been ranked first in the Arab world and 20th globally on the National Cyber Security Index

CIRA Care has been launched in Egypt with investments of $27.7M to revolutionize the care economy

Ecosystem Updates

Sanabil Investments and Redesign Health have partnered to establish Sanabil Venture Studio. The initiative will launch healthcare companies in Saudi Arabia

Flow Accelerator and SPARK have renewed their partnership to launch the Green Forward Program in Palestine

Flat6Labs has introduced the second cohort of SMEs in its Green Growth and Jobs Accelerator in Morocco

Startup Grind has hosted Qatar's first Tech Startup Community Awards ceremony. The event celebrated the achievements of local entrepreneurs and tech ventures

Du and Huawei have launched the Youth Digital Pioneers Program in the UAE

An Entertainment Accelerator has been launched in Saudi Arabia to foster entrepreneurship and innovation in the entertainment sector

Startup Highlights

Nawy (Egypt/PropTech) has acquired ROA. This strategic move enables Nawy to launch "Nawy Unlocked," a service designed to help property owners generate income

HyperPay (KSA/FinTech) has obtained a license from the Saudi Central Bank (SAMA) to operate digital payment services via an electronic wallet in the Kingdom

Abjjad (Jordan/e-Reading Platform) has implemented new leadership changes to strengthen its growth strategy. These changes come 12 years after Abjjad's founding

Mustashir (Algeria/Consulting Services) has begun trading its shares on the Algiers Stock Exchange, becoming the first startup to be listed

Fikra (Bahrain) has announced three winning concepts in its sixth edition. The Government Innovation Competition. The selected concepts include the "Hayat plus" application, the National Points System (Kafu), and "Taqyeemk" Mandatory Yearly Cybersecurity Assessments

Open For Application

Flat6Labs Seed Program | Riyadh

Offers mentorship, seed funding, and business training to early-stage startups in Riyadh, providing them with tools to scale and succeed

Saudi Innovation Grant Program | KSA

Supports innovators and researchers with funding opportunities to address national challenges and promote sustainable development

E3 Ventures Startup Program | KSA

Helps startups expand into the Saudi market, offering strategic support and resources to validate and scale their solutions

EDGE Innovation Challenge | UAE

Invites startups to propose innovative solutions in public safety and security, with opportunities for funding and partnerships

500 Global Scale-Up Program | Egypt

A 7-week program designed to empower Pre-Series A and Series A startups in Egypt

Fikra Ventures Incubator | Virtual

A virtual incubator dedicated to supporting Syrian entrepreneurs with private initial funding to address critical service gaps in electronic systems, infrastructure, logistics, and more

Digital Entrepreneurship Program | Virtual

Offers an 8-week online course, free of charge, to help newcomers develop business fundamentals, digital skills, and understand local culture

SuiHub Accelerator Program | Global

A 12-week accelerator for Web3 startups, providing up to $200,000 in funding, direct access to the Sui ecosystem, and connections to partners

Tech4Eva FemTech Accelerator | Global

A 6-month equity-free accelerator program for companies developing innovative women's health solutions

One Million Prompters Initiative | Global

An initiative aimed at equipping one million individuals with AI and prompt literacy skills over three years

Cool Events

• Innovating for Food Security and Climate Resilience by Hub71 | 20.01 Abu Dhabi

• Equity 101 by Clara Academy | 21.01 Riyadh

• Emerging Technologies and Trends to Watch by Exits MENA | 21.01 Virtual

• AI HealthTalks Webinar by Zaka | 21.01 Virtual

• Building Your Startup's Brand for Success in 2025 by AstroLabs | 21.01 Virtual

• NVIDIA RTX AI GameCraft 2025 | 23.01 Dubai

• Using AI for Business Growth by DIFC | 23.01 Dubai

• Unlock AI Marketing: A Masterclass for SMEs | 24.01 Dubai

• Middle East Banking AI & Analytics Summit 2025 | 26.01 Dubai

• Angel Investing 360: The Essentials by Falak | 26.01 Virtual

• Fikra Ventures Kick-Off Event | 26.01 Virtual

Techy Bytes

Syrian Robotics Pioneer has donated Dh1 million to support ocean conservation initiatives

Damac Group has partnered with blockchain platform Mantra to tokenize assets worth at least $1 billion

Dubai Police have introduced "Haddad," an AI-powered unmanned rescue boat designed to enhance maritime safety and expedite response to incidents on the water

Masdar City has launched testing of cutting-edge autonomous vehicles, reinforcing its position as a leader in sustainable urban transportation

Al-Futtaim has introduced "Blue AI," a smart lifestyle advisor integrated into the Blue Rewards app, enabling customers to interact dynamically with various brands

Qatar's Cabinet has approved a draft law on drones, aiming to regulate their use and ensure compliance with safety standards

Oman has implemented the Gulf Cooperation Council's first Automatic Invoice Verification System (AIVS) to automate invoice verification, reduce errors, and save time