Funding

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Funding

East Africa leads the Fundraising Trail in Africa with $45.7 million

According to data from BD Funding Tracker, East Africa led the fundraising trail in July, with startups in the region securing 37.4% of the total funds raised.

Funding

Scalo Technologies Leads $3.5 million Investment For Polish Gaming Startup Hexacore

Scalo Technologies has led a $3.5 million investment round for Hexacore, a Polish web3 mobile game publisher. Other investors that participated are Xsolla, Estoty and some angel investors. The funds will be used to grow the team, scale Hexacore's mobile games, and add new features including in-app purchases, NFT

Funding

UAE's Tenderd Receives Undisclosed Investment From Aramco's Wa'ed

UAE-based construction startup Tenderd has received an undisclosed funding round from Aramco's Wa’ed Ventures. The investment will help Tenderd to scale its operations and develop more sustainable technologies for manufacturers. Chief Executive of Tenderd, Arjun Mohan said, "With Wa’ed Ventures' investment, we will be able to evolve industrial

Funding

UAE's E-commerce Startup YallaHub Secures $6 Million In Pre-Series A Round

UAE-based marketplace aggregator YallaHub has secured a $6 million pre-Series A round. The new round was co-led by numerous MENA-focused private investors such Fedor Ovchinnikov, founder of Dodo Brands; Regolith, an ecosystem for financial and investment instruments, and others.   The fresh funds will be geared towards improving the IT platform

Funding

UAE Mobility Startup ONE MOTO Technologies Raises $40 million In Lease Financing

UAE-based mobility startup, ONE MOTO Technologies has raised $40 million in lease financing to accelerate its offering of electric delivery vehicles in the UAE. The round was led by Pyse along with other prominent investors who value the potential of electric vehicle (EV) adoption in the rapidly growing delivery sector.

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Funding

Bahraini Student Startup, Unipal, Secures $500,000 Follow-on Investment For Saudi Expansion

Funding

YC-Backed KASO Raises $10.5 Million and Launches F&B Fintech Vertical, Aiming to Reach $1 Billion GMV Target by 2024

KASO, the leading B2B platform digitizing & automating procurement between restaurants and food suppliers in the Middle East, has announced it has raised $10.5 million in seed funding to fuel its mission of disrupting the food supply

Funding

UAE Healthtech Startup Alma Health Secures $10M Series A Funding

UAE-based direct-to-patient digital healthcare company Alma Health has secured $10 million in a Series A funding. The round was co-led by Knuru Capital and Hambro Perks Oryx Fund. Other investors that participated in the round include: e& Capital, S3 Ventures, Pinnacle Capital, and Khwarizmi Ventures, while KCP Capital acted as

Funding

Acorn Fintech Secures Fund From Equity Capital EPT Tech Fund

Acorn Fintech, a South African start-up has just received funds from EPT Tech Fund, a venture capital firm. The venture capital firm is focused on emerging start-ups in Africa, aiming to secure pre-seed funds. The announcement was made on Tuesday by Joanna Govender, CEO of EPT Tech Fund.

Funding

Dubia-based refurbished-electronics startup, Revibe, raises $2.3m for expansion

Revibe, a Dubai-based refurbished-electronics startup, announced it has raised US$2.3 million in order to accelerate its growth within the US$6 billion refurbished consumer electronics market in the MENA region — which is expected to reach US$20 billion within the next decade.

Funding

Egyptian fintech Menthum raises pre-Seed funding

Menthum was founded in 2021 by Himanshu Shrimali and Ismail Sarhank. This innovative digital platform serves both B2B and B2C customers, enabling them to invest in secure treasury bills (T-bills) through a reliable money market fund.

Alfii

Alfii, an HRtech company based in the UAE, has successfully raised $2.5 million in a pre-seed round

Alfii’s mission is to be the most comprehensive fintech-powered people platform that helps companies thrive by caring for their people.

Funding

NOMU Group Raises $5 Million in Seed Round

NOMU, a Saudi-Arabia-based food-tech startup, founded in 2022 as a result of the merger between Jumlaty and Appetito announced it has raised $5M in a seed round to expand its technology offering.

Funding

UAE Logistics Startup Transportr Completes Eight-Figure Seed Round

Transportr, a UAE- based logistics platform, has completed its eight-figure seed funding round. The investment was led by the VC arm of Ittihad International Investment, Ittihad Ventures Holding along with Industrial Capital Group. The startup is currently getting ready for its Series A fundraising round, which will be utilized for

Funding

Ethiopian Kubik, Secures $3.34M to Build Sustainable Homes From Recycled Plastic Waste

Kubik, an Ethiopian cleantech startup specializing in the production of affordable, low-carbon building materials from recycled plastic waste, has raised $3.34 million in an oversubscribed seed funding round to expand across the country.

Funding

South African’s Healthtech Zoie Health Secures Expansion Fund

Zoie Health, a South African Healthtech company, has successfully raised a pre-seed expansion fund with the leadership of 4DX Ventures. Notably, impact investor E Squared Investments was also involved in this funding round. Zoie Health aims to expand Africa's pioneering digital women's health clinic by broadening its product range and

Funding

Kenya's CrossBoundary Energy Receives $50M to Accelerate Solar Energy Adoption in Africa

CrossBoundary Energy which has already delivered a portfolio of over $285 million worth of solar and renewable energy assets for its clients, has raised $50 million to expand its portfolio across Africa.

Funding

Egypt's Fintech Agel Secures Seven Figure Pre Seed Round To Obtain License

Egyptian fintech startup Agel has secured a seven-figure pre-Seed round to allow it run as a licensed non-banking financial institution, develop its product, as well as expand across Egypt. The fresh funds will also be used to rollout a merchant co-branded banking card service in partnership with Abu Dhabi Islamic

Funding

Moroccan Logistics Startup Colis.ma Raises $50,000 From Kenya’s Accelerator The Baobab Network

Moroccan logistics startup Colis.ma has raised $50,000 from Kenya’s The Baobab Network as part of its accelerator program.  The recent cohort of the accelerator program broadens the Baobab Network portfolio by adding five new start-ups from Morocco, Kenya, Guinea, Nigeria, and Togo. In addition to the cash

Investment

Jada Fund Of Funds Commits To Investcorp’s $500M Saudi Pre-IPO Growth Fund

Saudi-based Jada Fund of Funds, a subsidiary of the Public Investment Fund (PIF) has made financial commitments in Investcorp’s $500 million Saudi pre-IPO growth fund. Launched in 2022, the fund invests in a diversified portfolio of companies, based in Saudi Arabia that wish to access the public capital markets

Features Featured

The VC Funding Gap: Why Northern Nigerian Start-Ups Are Being Left Behind -Surayyah Ahmed

Nigeria’s startup ecosystem is booming, with a growing number of innovative companies emerging across the country. However, there is a stark divide between startups in the northern and southern regions of Nigeria when it comes to securing venture capital (VC) funding. Northern Nigerian startups are being left behind, and

Funding

Saudi's B2B Autobia Secures Seed Funding For Service Expansion

Saudi-Arabia-based business-to-business (B2B) platform Autobia has secured $2.5 million in a seed funding round. The investment was led by Sadu Capital and received participation from Wa’ed Ventures by Aramco, Raz Holding, Techstars, and a group of angel investors. The latest investment will enable Autobia to expand within Saudi

Funding

Helium Health Raises $30M Series B Round To Scale Its HeliumCredit

Helium Health has raised $30 million in a Series B funding round led by AXA IM Alts, in a ground-breaking development for Nigerian health tech. This investment will accelerate the growth and reach of their fintech product, HeliumCredit, as well as cement their position as trailblazers in advancing universal health

Funding

SC Women in Tech Awards $50,000 to 3 Female-led Startups in Saudi Arabia

The Standard Chartered Women in Tech program initiated by Saudi's Falak Investment Hub has awarded $50,000 in equity-free cash prizes to three female-led startups in Saudi Arabia. The startup that won the first-place is Sahm taking home $25,000, second place went to Nqoodlet winning $15,000 and third

Funding

UAE Logistics Startup Cargoz Secures Undisclosed Bridge Fund for KSA Expansion

UAE-based logistics startup Cargoz has secured an undisclosed bridge funding round from Nama Ventures, RAZ Group and other angel investors from the UAE and Saudi Arabia. Cargoz plans to use the funds to launch in Riyadh by Q3, 2023 and scale its growth in the UAE. Founded by Premlal Pullisserry