Saudi Arabia crowns new technology unicorn
Saudi-based quick-commerce startup Ninja has raised $250 million in a funding round led by Riyad Capital, lifting its valuation to $1.5 billion and marking its emergence as the country's latest technology unicorn.
Founded in 2022 by Saud Al Qahtani and Canberk Donmez, Ninja delivers groceries and daily essentials across Saudi Arabia, Bahrain, Qatar, and Kuwait, reflecting the region's growing appetite for fast, tech-enabled consumer services.
The fresh capital will enable the company to scale logistics capabilities, expand into new geographies, and lay the groundwork for a planned public listing on the Saudi Exchange by 2027.
The transaction highlights Riyad Capital's role as a prominent institutional investor in MENA startups, as well as Saudi Arabia's rising stature as a venture capital hub as it diversifies its economy under Vision 2030.
PetroApp secures $50m to digitize fuel and fleet management
PetroApp, Saudi Arabia's digital fuel and fleet management platform, has raised $50 million in a funding round led by Jadwa Investment through its GCC Diversified Private Equity Fund, with participation from Bunat Ventures.
Established in 2018 by Abdulaziz Al-Senan, PetroApp operates a cashless system designed to streamline corporate and government fleet payments while reducing fraud.
The platform also offers value-added vehicle services such as oil changes, car washes, and tire replacements.
The capital injection will support PetroApp's retail launch within Saudi Arabia, accelerate its international expansion plans, and further develop its proprietary technology infrastructure.
Tariq Al-Sudairy, managing director and CEO of Jadwa Investment, said: 'PetroApp presents a compelling investment opportunity, supported by a robust technology infrastructure and strong network effects.'
Abdulaziz Al-Senan, co-founder and CEO of PetroApp, described the partnership as a critical milestone, adding: 'We are excited to embark on this partnership at a pivotal stage in PetroApp's journey. Jadwa's institutional expertise will be critical in strengthening our foundation, accelerating growth, and expanding our leadership in Saudi Arabia and beyond.'
Flawless raises $1.5m to expand AI-powered career guidance
Saudi Arabia-based Flawless has secured $1.5 million in pre-seed funding from a group of unnamed angel investors with an emphasis on early-stage innovation.
Founded by Shaimaa Al-Ghamdi, the platform combines generative artificial intelligence with principles of social psychology to deliver personalized career guidance to users seeking better-informed professional decisions.
Flawless evolved from a personal blog launched in 2023 to a fully operational digital business in 2024, targeting a gap in the market for data-driven career support solutions.
Al-Ghamdi said: 'What began as a passion project is now a data-driven platform helping thousands make smarter career decisions.'
She added: 'This funding validates our approach and gives us the fuel to scale responsibly and impactfully.'
The investment will be allocated to scaling the company's technology infrastructure, refining its product offering, and recruiting new talent to grow operations.
Byzanlink raises $1m to build blockchain-based financial infrastructure
Dubai-based Byzanlink, a real-world asset tokenization platform, has closed a $1 million private funding round backed by Outlier Ventures, NTDP Saudi Arabia, Smart IT Frame, Sensei Capital, and several angel investors.
Founded in 2024 by Anbu Kannappan, the startup operates from Dubai Multi Commodities Centre and is focused on building infrastructure to tokenize traditional financial assets for both institutional and retail investors.
What began as a passion project is now a data-driven platform helping thousands make smarter career decisions.
Shaimaa Al-Ghamdi, Flawless founder
The company aims to improve market access, transparency, and operational efficiency through blockchain technology.
Byzanlink plans to allocate the proceeds toward product development, expanding integrations with ecosystem partners, and reinforcing compliance with evolving regulatory frameworks.
Kannappan said: 'Support from such a diverse and forward-thinking group of partners is a strong signal for what we're building. We believe the next generation of financial infrastructure will be powered by transparency, automation, and access. We're committed to building that foundation.'
Idea-L secures $1m to scale venture creation platform
UAE-based idea-L has raised a $1 million pre-seed round from a group of undisclosed angel investors to advance its AI and Web3-powered venture creation platform.
Founded in 2024 by Peter Goodwin, Daniel Muller, and Mark Hill, idea-L is designed to help entrepreneurs transform early-stage concepts into investor-ready businesses through automation and digital collaboration tools.
The funding will be used primarily for technical hiring, platform enhancements, and the launch of new products intended to streamline venture creation workflows.
The company aims to position itself as a key enabler in the UAE's growing startup ecosystem by combining generative AI and tokenized ownership structures.
InstaBank secures $15m to drive digital banking in Iraq
InstaBank, officially operating as Al-Fawr Digital Bank, has raised $15 million in funding to support the rollout and growth of its digital banking services in Iraq.
UAE-based EQIQ, a venture capital fund and venture builder, contributed $3 million as part of the round, which aims to transform Iraq's underdeveloped banking sector.
Founded in 2025 by Hussain Qaragholi, InstaBank plans to use AI-powered tools and customer-centric design to deliver accessible, scalable financial services.
The digital bank will play a central role in EQIQ's broader fintech strategy, which integrates banking, logistics, and social commerce solutions to accelerate financial inclusion across Iraq.
The investment underscores the rising investor interest in digitizing the country's financial infrastructure and tapping into its large unbanked population.
EQIQ views InstaBank as a strategic asset to drive economic participation and modernize financial ecosystems.
AgriCash raises seed funding to scale AI-powered agri-fintech platform
Egypt-based agri-fintech platform AgriCash has secured an undisclosed amount of seed funding in a round led by Alex Angels, with participation from regional investors.
Founded in 2024 by Diaa Youssef and Mostafa El-Sehli, AgriCash offers farmers a digital platform combining financing solutions, AI-driven agronomic insights, crop insurance, and access to input markets.
The funding will help AgriCash expand its operations across Egypt and into neighboring markets, strengthen its AI infrastructure, and finalize integrations with insurance and banking partners.
The company's flagship buy now, pay later model provides farmers with interest-free access to agricultural and livestock supplies for up to 12 months, with credit ceilings of up to 3 million Egyptian pounds ($60,777).
AgriCash aims to achieve 500 million Egyptian pounds in business volume by 2025 and plans to launch livestock financing in 2026 to consolidate its position as an end-to-end agri-finance platform serving smallholder farmers and commercial producers.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Argaam
2 hours ago
- Argaam
Container handling leaps 19% to 697,000 TEUs in June: MAWANI
Saudi ports reported an 18.6% leap in cargo throughput tonnage to 696,800 tons in June 2025, compared to 587,300 tons in the same period a year ago. In a statement, the Saudi Ports Authority (MAWANI) said outbound containers surged by 35.9% to 165,000 in June, from 121,400 in the prior-year period. The number of inbound containers also increased by 10.6% to 263,300, compared to 237,800 in June 2024. Transshipment containers were up 17.79% to 268,600, compared to 228,000 TEUs a year earlier. The general cargo reached 922,300 tons in June, while solid bulk cargo and liquid bulk cargo reached 4.2 million and 16.3 million tons, respectively. Ports received 959,200 livestock heads for the same month, down 47.3% compared to 1.8 million in the same month of 2024. The maritime traffic saw a rise of 7.5% year-on-year (YoY) to 1,039 ships in June. The number of passengers also jumped 42.3% to 78,700 last month, compared to 55,300 last year. Meanwhile, the number of cars dropped by 25.4% YoY to 75,400 for the same month. The following table shows the performance of Saudi ports in June 2025: Saudi Ports Performance Item June 2024 June 2025 Growth TEUs ('000) 587.26 696.84 +19% Outbound Containers ('000) 228.03 268.59 +18% Inbound Containers ('000) 237.85 263.25 +11% Transshipment Containers ('000) 121.38 164.99 +36% Handling Tonnages (mln tons) 21.10 21.46 +2% Passengers ('000) 55.29 78.70 +42% Livestock ('000) 1821.86 959.19 (47.35%) Number of Vessels 966 1039 +8% Number of Vehicles ('000) 101.15 75.44 +25%
Argaam
2 hours ago
- Argaam
Non-Saudi property ownership law to take effect in 2026: Al-Hogail
Majid Al-Hogail, Minister of Municipal, Rural Affairs and Housing, said the new law regulating property ownership by non-Saudis aims to boost the real estate sector and attract foreign direct investments to support housing supply across the Kingdom. Al-Hogail, who is also Chairman of the Real Estate General Authority (REGA), said the new law safeguards citizen interests through introducing mechanisms to regulate the market and ensure real estate balance. It allows non-Saudis to own property within specific geographic zones, most notably Riyadh and Jeddah, while applying special conditions for Makkah and Madinah. REGA will be responsible for defining the approved zones for non-Saudi ownership and preparing the executive regulations for the law, which will be published for public consultation on the Istitlaa platform within 180 days. The law, scheduled to go into effect in January 2026, aligns with the regulations governing premium residency and existing rules that allow GCC nationals to own property for residential or investment purposes.
Arab News
2 hours ago
- Arab News
Cabinet commends HRC adoption of resolution to protect children in cyberspace
RIYADH: The Cabinet commended on Tuesday the Human Rights Council's unanimous adoption of a resolution submitted by the Kingdom to protect children in cyberspace. The resolution, submitted by Saudi Arabia, aims to protect children in cyberspace and is rooted in the global initiative 'Child Protection in Cyberspace' launched by Crown Prince Mohammed bin Salman in October 2024. The Cabinet said that Saudi Arabia maintaining its position as the top-ranked country in global cybersecurity according to this year's edition of the International Institute for Management Development World Competitiveness Yearbook adds to a series of achievements made by this sector in record time. Saudi Minister of State and Cabinet member Issam bin Saad bin Saeed said the Kingdom's first-place ranking globally in the ICT Development Index 2025 issued by the International Telecommunication Union is a confirmation of the strength of the its digital infrastructure. It was also testament to the attractiveness of its investment environment and the development of the local digital economy, which has reached SR 495 billion ($132 billion) in size, he added. The Cabinet also discussed the Kingdom's efforts and contributions at the international level to support multilateral action and enhance global economic growth rates, including continued cooperation with OPEC+ producers to maintain stability in oil markets. The crown prince also briefed the Cabinet on the contents of his discussions with the President of Indonesia Prabowo Subianto and a phone call he received from German Chancellor Friedrich Merz.
