MENA startups secure new investments, acquisitions across fintech, AI and e-commerce
From artificial intelligence infrastructure and fintech to automotive SaaS and second-hand fashion, companies are securing capital to expand operations, enhance technology, and enter new markets.
Among the latest developments, UK-based AI cloud infrastructure provider Ori has secured a strategic investment from Wa'ed Ventures, the venture capital arm of Saudi Aramco, as it prepares for expansion in the Middle East.
The financial terms of the investment were not disclosed. The deal follows Ori's recent deployment of Nvidia's H200 chips, positioning the company as a key AI infrastructure provider in the UK, the Middle East, and beyond.
Ori, which enables large-scale AI model training and deployment, currently operates in over 20 locations across North America and Europe.
With the backing of Wa'ed Ventures, Ori plans to localize its operations in Saudi Arabia, launching a regional subsidiary in Riyadh to support the country's Vision 2030 initiative.
Wa'ed Ventures, a $500 million fund investing in advanced technology startups, has expanded its focus internationally since 2022 to support companies that can localize their technologies in Saudi Arabia.
The fund has previously invested in AI chipmaker Rebellions and real estate fintech firm Stake.
Ori recently raised £140 million ($176.8 million) and is preparing for a larger funding round in 2025.
It partners with global technology firms, including Nvidia, Supermicro, and Dell, and is backed by investors such as Telefonica, NextEra Energy, and Episode 1 Ventures.
Dubizzle acquires Egypt's Hatla2ee
UAE-based online classifieds platform Dubizzle Group has acquired Hatla2ee, an Egyptian online car marketplace, for an undisclosed amount.
The acquisition strengthens Dubizzle Group's regional presence by integrating its technology and resources into Hatla2ee's platform.
Founded in 2016 by Samy Swellam, Hatla2ee provides a marketplace for buying and selling new and used cars in Egypt.
Dubizzle Group, established in 2005, operates multiple classified platforms, including Dubizzle, Bayut, and Drive Arabia.
The acquisition follows Dubizzle Group's purchase of UAE-based automotive media platform Drive Arabia in May 2024.
MANSA raises $10m for cross-border payments
MANSA, a fintech firm specializing in cross-border payments, has secured $10 million in funding to enhance its liquidity solutions.
The funding includes a $3 million pre-seed round led by Tether and co-led by Polymorphic Capital, with participation from Octerra Capital, Faculty Group, and Trive Digital.
MANSA also raised $7 million in liquidity funding from corporate investors, quantitative funds, and alternative investment firms.
The company, co-founded by Mouloukou Sanoh and Nkiru Uwaje, leverages stablecoins to streamline liquidity management for payment providers in emerging and developed markets.
Since launching in August, MANSA has facilitated $27 million in transactions, with on-chain volume surging 574 percent from August to January 2025.
The new funding will support the company's expansion into Latin America and Southeast Asia.
Egypt's Qme raises $3m for AI business solutions
Qme, an Egypt-based B2B SaaS startup, has raised $3 million in a seed funding round led by AHOY and a group of angel investors from the Gulf Cooperation Council.
Founded in 2022 by Maged Negm, Qme provides AI-driven digital infrastructure for businesses, integrating booking, queuing, analytics, and payment solutions.
The investment will be used to enhance the company's technology, expand its market presence, and strengthen partnerships.
UAE fintech Blum secures $5m in seed funding
Blum, a UAE-based decentralized exchange, has raised $5 million in a pre-seed and seed funding round led by gumi Cryptos Capital, Spartan, No Limit Holdings, YZi Labs, and OKX Ventures.
Founded in 2024 by Gleb Kostarev and Vladimir Smerkis, Blum offers token trading through gamification within a Telegram mini-app.
The funding will support the platform's infrastructure development, trading enhancements, and expansion across multiple blockchain networks.
Tunisia's Dabchy raises pre-Series A funding
Dabchy, a Tunisia-based peer-to-peer fashion marketplace, has raised an undisclosed amount in a pre-Series A funding round led by Janngo Capital and angel investors.
Founded in 2016 by Ameni Mansouri, Ghazi Ketata, and Oussama Mahjoub, Dabchy provides an e-commerce marketplace for second-hand fashion.
The funding will support the startup's expansion into Egypt, broaden its product offerings, and improve its platform.
The Box secures $12.5m for storage expansion
The Box, a UAE-based self-storage services provider, has secured $12.5 million in debt financing led by Shorooq Partners.
Founded in 2007 by Wadih Haddad, The Box offers personal storage, record management, and moving services.
The new capital will enable the company to expand its storage facilities and develop flagship locations.
Palm Ventures closes $30m early-stage fund
Palm Ventures, a MENA-focused investment firm, has closed a $30 million fund to support early-stage startups in the region, with a portion allocated to US-based AI ventures.
Founded in 2014, Palm Ventures has backed 40 startups and collaborated with government entities to drive innovation.
Between 2020 and 2024, the firm invested in 20 MENA and US-based AI startups.
The new fund will target AI, fintech, and business solutions, supporting digital transformation in the region.
Pinewood acquires 90.9 percent of Seez for $42m
Pinewood Technologies PLC has acquired a 90.9 percent stake in UAE-based automotive SaaS platform Seez for approximately $42 million.
The transaction, expected to close by March 19, 2025, will be funded through a mix of cash payments and newly issued shares.
Seez specializes in AI and machine learning solutions for the automotive sector, including e-commerce and omnichannel products.
Pinewood, which provides automotive intelligence solutions, aims to leverage Seez's technology to enhance its agency management systems while reducing reliance on third-party AI licenses.
The companies anticipate the acquisition will be earnings-accretive by fiscal year 2026.
Oman Investment Authority partners with Golden Gate
Oman Investment Authority has partnered with Singapore-based venture capital firm Golden Gate Ventures to strengthen Oman's startup landscape.
Through its technology arm, Innovation Development Oman, OIA has become a limited partner in Golden Gate Ventures' new $100 million fund, which marks the firm's first major venture capital initiative in the MENA region.
The partnership aims to attract foreign investment into Oman's technology sector while providing startups with funding, expertise, and market access.
Golden Gate Ventures, which has backed around 100 companies since 2011 — including nine unicorns — views Oman as a promising innovation hub.
Algerie Telecom launches $11m AI startup fund
Algeria's state-owned telecom company, Algerie Telecom, has announced an $11 million investment fund to support startups in artificial intelligence, cybersecurity, and robotics.
The initiative was unveiled at the third edition of Algeria's CTO Forum as part of the country's national AI and digital transformation strategy.
The investment will support the establishment of 20,000 startups, alongside efforts to develop AI-focused universities, incubators, and a nationwide expansion of digital infrastructure aimed at strengthening Algeria's technological ecosystem.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Leaders
3 hours ago
- Leaders
Saudi Arabia Hits Record 144% in Mining Exploration Licenses in H1
Saudi Arabia has achieved a remarkable milestone by issuing a record number of new mining exploration licenses in the first half of 2025. Official data reveals a staggering 144% year-on-year increase, with a total of 22 licenses granted, marking a significant rise from just nine licenses issued during the same period last year. The surge reflects growing investor interest and the government's commitment to enhancing the mining sector's competitiveness. Aligning with Vision 2030 This increase aligns with the rapid growth of the Kingdom's mining industry, which serves as a central pillar in its Vision 2030 diversification strategy. Saudi Arabia aims to boost the sector's contribution to gross domestic product from $17 billion to $75 billion by 2035. The government supports this effort by accelerating the exploration and development of the Kingdom's estimated mineral wealth, valued at over SR9.4 trillion ($2.5 trillion). Jarrah bin Mohammed Al-Jarrah, the official spokesman for the Ministry of Industry and Mineral Resources, stated that 23 mining companies invested in the new licenses during the first half of this year. Notably, 16 of these companies obtained mining licenses for the first time. The total investment in these licenses exceeds SR134 million, covering an area of 47 square kilometers. The spokesperson also highlighted that the projects associated with these licenses are expected to produce approximately 7.86 million tonnes annually of various mineral ores. These ores include salt, clay, silica sand, low-grade iron ore, feldspar, and gypsum. Currently, the total number of active mining and small-mine exploitation licenses in the Kingdom stands at 239. This total includes 32 Category A licenses for strategic minerals such as gold, copper, phosphate, and bauxite. Additionally, there are 207 Category B licenses for industrial minerals, including silica sand, gypsum, limestone, salt, and clay. Attracting Investments Earlier in July, Vice Minister of Industry and Mineral Resources Khalid Al-Mudaifer informed Asharq Business that the Kingdom's mining reforms have successfully attracted $32 billion in investments. These investments span projects involving iron, phosphate, aluminum, and copper. This amount represents nearly one-third of Saudi Arabia's ambitious target to attract $100 billion in mining investments by 2030. Al-Mudaifer emphasized that mineral exploration spending in the Kingdom has quadrupled since 2018. It now reaches $100 per square kilometer, with an impressive annual growth rate of 32%. This growth significantly surpasses the global average of 6 to 8%. In summary, Saudi Arabia's mining sector is experiencing unprecedented growth, driven by strategic investments and government reforms, driving the Kingdom well on its way to achieving its ambitious goals outlined in Vision 2030. Short link : Post Views: 7
Arab News
4 hours ago
- Arab News
Expo memoir highlights Dubai's legacy of innovation
When Dubai hosted Expo 2020, it became the first country in the Middle East and North Africa region to hold the event, redefining the possibilities of a World Expo. Historically, these global gatherings, stretching back to 1851, have been dynamic showcases of experimental architecture, international collaboration and technological advancement. Yet, for almost two centuries, women were largely absent from their production and focus. Dubai notably changed this narrative, largely due to the formidable leadership detailed in 'When Ground Shifts,' the insightful new book by Reem Al-Hashimy, the UAE minister of state for international cooperation and the visionary behind Expo 2020. As Expo 2025 Osaka passes its halfway point, it continues to build on this rich history, while the anticipation for Expo 2030 Riyadh further underscores the region's commitment to this global platform for innovation and collaboration. Al-Hashimy's book is far from a mere chronicle of milestones; it is a candid, first-hand account of the immense personal and international challenges she navigated — from being appointed a minister at 29 to delivering Dubai's final presentation in Paris while heavily pregnant and repeating her mantra of 'hope is not a method.' The anecdotes reveal the tireless effort required to deliver a World Expo. Her book illuminates the relentless dedication that transformed a patch of untouched desert into a showplace for more than 190 countries and 24 million visitors. Expo 2020 visitors were captivated by the falcon-like UAE Pavilion; the majestic 'energy trees' surrounding Terra — The Sustainability Pavilion; and the immense Al-Wasl Plaza, the planet's largest 360-degree projection surface. Significantly, they were moved by the Women's Pavilion, inspired in part by a vintage Cartier bracelet. Her expo understood style as much as it did substance. Having had the privilege of witnessing Expo 2020 as a writer, a speaker for the US pavilion and as a member of the fair's Visitor Experience department, what I saw, and what Al-Hashimy's book powerfully conveys, is that a grand undertaking thrives from the top down. The meticulous attention to detail, the open-minded willingness to seek expertise from every corner of the globe, the pervasive feeling that everyone involved could contribute something, and the daring that was not just tolerated but actively sought all flowed from Al-Hashimy and the cast of several thousand characters she assembled like a Marvel superhero team. Her profound understanding of what she calls 'barakah' — the ability to find those who can ease your burdens and solve your problems — is a core theme in 'When Ground Shifts,' and it was palpable on the ground. Expo 2020 came within a hair's breadth of its goal of 25 million visitors, despite a year-long delay due to the lockdowns. Charles Pappas 'Inspiration is a guest that does not willingly visit the lazy,' Tchaikovsky said. The Expo 2020 site went from zero to a fully realized 4 sq. km city with mind-bending speed. Each problem was a domino falling to her steady, relentless effort. Perhaps no obstacle was greater than the COVID-19 pandemic. While the 1873 Vienna World's Fair saw a cholera epidemic slash its expected turnout, Expo 2020 came within a hair's breadth of meeting its goal of attracting 25 million visitors, despite a year-long delay due to the lockdowns. Drawing the largest number of countries ever for a World Expo, the event was cosmopolitan yet grounded in the Middle East. Indigenous ghaf and palm trees provided shade, while dozens of calligraphy benches, which resembled abstract art but spelled out words in Arabic like 'vision,' 'dignity,' 'hope' and 'dream,' offered respite from the 20,000 or so steps visitors would easily rack up in a day. These details, far from mere decorative elements, were integral to the event's cultural tapestry. 'When Ground Shifts' could easily have been a dull humblebrag. Instead, it is alive with grace and pride. The self-described 'little on the nerdy side' student who found deep meaning in the Lincoln Memorial and the American experiment built an expo where, for the first time, every country had its own pavilion. She also built Expo Live, which channeled $100 million to pioneering social projects that embodied the expo themes of mobility, opportunity and sustainability. This commitment to equitable participation and impactful legacy is a cornerstone of the book's message. Until 1970, most world expos were held in cities such as London, Paris, Philadelphia, Chicago and New York. But with Expo '70 in Osaka, Japan, world's fairs began trending toward non-Western locations, realizing their singular soft power. Expo 2020 propelled the UAE onto a world stage and into the top 10 countries in the Brand Finance Global Soft Power Index 2023. It was a nation's coming of age on the global stage. All of that is an astonishing heritage. As the spotlight shifts to Expo 2025 Osaka and continues with significant anticipation for Expo 2030 Riyadh, that spirit of global collaboration and innovation remains a powerful guiding force. Riyadh's bid, centered on 'The Era of Change: Together for a Foresighted Tomorrow,' aims to further advance global dialogue. The lessons learned from Dubai's inclusive approach and Osaka's technological ambitions will undoubtedly inform Riyadh's preparations, ensuring Expo 2030 continues the legacy of creating a platform for collective progress and a sustainable future. While every expo charts its own course, the high bar of success and the compelling story of leadership captured in 'When Ground Shifts' offer a rich context for understanding the immense undertaking that Osaka is now embracing and what Riyadh will soon embark upon. The world waits to see what new legacies they will inspire.
Saudi Gazette
9 hours ago
- Saudi Gazette
Saudi Arabia concludes participation in UN High-Level Political Forum 2025 on sustainable development
Saudi Gazette report NEW YORK — Saudi Arabia concluded its participation in the 2025 United Nations High-Level Political Forum on Sustainable Development, which brought together nations to review global efforts and progress toward achieving the Sustainable Development Goals (SDGs) outlined in the 2030 Agenda. The forum ran from July 14 to 23 at the UN headquarters in New York. The Saudi delegation was led by Minister of Economy and Planning Faisal Al-Ibrahim and included representatives from nine government entities: the Ministries of Economy and Planning, Foreign Affairs, Health, Human Resources and Social Development, and Environment, Water and Agriculture; the Saudi Fund for Development; Madinah Development Authority; the National Center for Wildlife; and the Quality of Life Program. In his remarks, Minister Al-Ibrahim highlighted Saudi Arabia's rapid progress on sustainable development indicators within the G20 over the past decade, attributing it to Vision 2030, which he described as a national project born from the aspirations of the leadership and the Saudi people. "Vision 2030 has enabled the Kingdom to become the fastest-progressing G20 country in SDG indicators over the last 10 years," Al-Ibrahim said. "This progress reflects the power of aligning ambition with structured action, strong political will, and effective policies." He also pointed to innovative local initiatives, such as the launch of the Sustainable Development Atlas by Madinah City, which covers all 70 of its neighborhoods and supports evidence-based policy design through comprehensive data mapping and scenario modeling. Saudi Arabia's water sustainability efforts were spotlighted as the Kingdom was recognized by the UN Water Committee for its clear progress on SDG 6 (clean water and sanitation), particularly in integrated water resources management. The Ministry of Environment, Water and Agriculture presented key lessons learned in securing water sustainability in one of the world's most arid regions during a dedicated side event. Additionally, the Ministry of Economy and Planning, in collaboration with the Ministry of Human Resources and Social Development, the Quality of Life Program, and the Madinah Development Authority, organized a side event focusing on cross-sectoral integration, institutional capabilities, and innovation to accelerate progress toward the SDGs. The Saudi Fund for Development (SFD) also participated with an informational pavilion showcasing its contributions to global sustainable development through the financing of projects in health, education, energy, infrastructure, industry, and mining. On the sidelines of the forum, Minister Al-Ibrahim held a series of bilateral meetings with senior officials to explore opportunities for strategic partnerships, economic cooperation, and investment. The High-Level Political Forum is held annually under the auspices of the UN Economic and Social Council and serves as a key platform for tracking SDG progress since its inception in 2012.
