Middle East

Dubai-based early-stage venture capital firm COTU Ventures is announcing that it has raised $54 million for its inaugural fund to support startups in the Middle East from pre-seed to seed…

COTU Ventures launches $54M fund for pre-seed and seed startups in MENA

The Qatar Investment Authority (QIA) is launching a $1 billion venture capital fund of funds for international and regional venture capital funds, the sovereign wealth fund announced on Monday at…

Qatar plots a $1B pipeline to VCs

Tamara, a buy now, pay later platform for consumers in Saudi Arabia and the wider GCC region, has raised $340 million in a financing round that values the fintech at…

Saudi shopping and BNPL platform Tamara tops $1B valuation in $340M Series C funding

The global energy spare parts market is valued at over $90 billion, with the Middle East representing about 35% of this sector. This sector remains largely untapped by existing additive…

Immensa, a MENA-based additive manufacturing and digital inventory platform, raises $20 million 

On October 7, Hamas launched an unprecedented terrorist attack on Israel, killing more than 1,200 people, with hundreds taken hostage. The attack prompted a deadly response from the Israel Defense…

Thousands of new honeypots deployed across Israel to catch hackers

The past year and a half have witnessed multiple startups facing valuation cuts as funding from VCs waned in an environment of rising interest rates. In this context, fintechs, especially…

Buy now, pay later platform Tabby nabs $200M in Series D funding at $1.5B valuation

Featured Article

African VCs and startups are eyeing the Middle East for new capital, but there’s a catch

African startup funding has seen a significant decline of more than 50% over the past three quarters compared to the previous year, as reported by The Big Deal. To date, startups on the continent have secured funding in the range of $2.5 billion to $3.4 billion, based on data from The Big Deal and Briter…

3:11 am PDT • October 26, 2023
African VCs and startups are eyeing the Middle East for new capital, but there’s a catch

For Chinese electric car manufacturers, Europe has long been a priority destination for international expansion. With its affluence, environmental consciousness and relatively friendly attitude toward China, the continent has attracted…

Chinese EVs have yet to succeed in Europe; the Middle East could be different

The International Finance Corporation (IFC) has today launched a $225 million venture capital platform to back early-stage startups in Africa, Middle East, Central Asia and Pakistan. The IFC, a member…

IFC launches $225M platform to back early-stage startups in Africa, Central Asia, Middle East

The days of European startups relocating to the U.S. if they want to grow (and raise money to do so) have been receding in the rearview mirror for a while…

Stockholm’s EQT Growth closes $2.2B to fund scaling European startups like Vinted, Mambu and Epidemic Sound

A new report examing the impact of Apple’s privacy feature, App Tracking Transparency, indicates Apple’s ads business appears to have financially benefitted as a result of the feature’s launch. Now…

One year later, Apple’s privacy changes helped boost its own ads business, report finds

Dubai-based startup Stake is offering retail investors from across the globe the opportunity to buy fractions of rental property in UAE’s marquee city and earn regular income. The startup, founded…

Dubai-based Stake raises $8 million to let people across the globe invest in local properties

In the post-2016 U.S. election world, secretive online campaigns designed to influence global politics are nothing new. And while U.S. adversaries like Russia, Iran and China have been linked to…

Meta and Twitter purge web of accounts spreading pro-US propaganda abroad

Hong Kong-based drug discovery and development company Insilico has secured fresh capital at a time that its CEO described as a “biotech winter.” The firm has raised $35 million on…

Aramco’s Prosperity7 powers AI drug firm Insilico’s $95M round

H.E. Al Olama recently spoke about the burgeoning Emerati startup and venture capital ecosystem, and the country’s approaches to attracting U.S. VC investment.

UAE aims to convert oil wealth into tech prowess

An ongoing cybercriminal operation is targeting digital marketing and human resources professionals in an effort to hijack Facebook Business accounts using a newly discovered data-stealing malware. Researchers at WithSecure, the…

A newly discovered malware hijacks Facebook Business accounts

Security researchers have linked the discovery of an actively exploited but since-fixed zero-day vulnerability in Google Chrome to an Israeli spyware maker targeting journalists in the Middle East. Cybersecurity company…

Spyware maker Candiru linked to Chrome zero-day targeting journalists

Sequoia Capital’s China affiliate has pulled in $9 billion in fresh capital to back the country’s tech companies across all stages, The Information first reported. The raise arrived at a…

Sequoia Capital China raises $9B amid cooling tech sector

This week, the Walt Disney Company continues to gain ground in the global streaming market as it launches Disney+ in 16 markets across the Middle East and North Africa (MENA).…

Disney+ rolls out to 16 more markets across the Middle East and North Africa

Yahya Bouhlel started coding in his early teens. Within this timeline, he interned at several companies in Palo Alto, California. Most of his work revolved around building apps and iPhone…

Tunisian edtech startup GOMYCODE raises $8M to expand across Africa and the Middle East

Larger banks and other financial service providers are getting a lot more serious when it comes to competing with upstarts that are disrupting their businesses with fresher approaches and newer…

Backbase raises its first funding, $128M at a $2.6B valuation, for tools that help banks with engagement

A new report from Endeavor Nigeria reveals that Africa’s digital economy and tech ecosystem is set to experience exponential growth periods. The report is dubbed “The Inflection Point: Africa’s Digital Economy is…

New report examines Africa’s growth in the digital economy and VC investment landscape

While much of the recent capital has targeted the consumer-facing, or downstream side, the firm believes future investments will go into technologies closer to the farm or lab.

Synthesis Capital closed its first fund with $300M, giving boost to food tech’s future

CleverTap, a retention marketing platform which has raised $76.6 million to date, is to fully acquire Bulgarian-originated but San Francisco-based Leanplum, a customer engagement platform which has raised $131.2 million,…

Leanplum acquired by CleverTap as retention marketing platforms consolidate

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Daily Crunch: PayPal Ventures leads $50M Series B for Egyptian fintech Paymob

Edtech startup Manara has raised $3 million in pre-seed funding for its cohort-based training ­­platform geared toward growing the tech-talent pool in the Middle East and North Africa (MENA) region.…

Manara gets $3M to grow tech talent pool in the Middle East and North Africa

Egyptian fintech Paymob, which enables merchants to accept digital payments online and in-store, announced today it has raised $50 million in Series B funding. PayPal Ventures, the global corporate venture…

Egyptian fintech Paymob raises $50M led by PayPal Ventures and Kora Capital

Tofino Capital, a venture capital firm targeting early-stage startups in emerging markets, has launched its $10 million fund. It is announcing the first close of this fund at $5 million…

Tofino Capital reaches first close of $10M fund to back startups in frontier markets

Per reports, Egyptians spend about 30% of their income on food in a $17 billion restaurant industry, one of the largest in Africa and the Middle East. Yet restaurants in this…

The Food Lab, an Egyptian cloud kitchen provider, raises $4.5M pre-seed for expansion

Pylon, an Egyptian infrastructure management platform for water and electricity companies in emerging markets, has raised a $19 million seed round. The round, a combination of debt and equity, was…

Egypt’s Pylon gets $19M to scale software for water and electricity distribution companies