field_61f443f824645

Editorial Choice

acf/homepage-hero

field_61b1c533ba02f

Latest News 🚀

acf/patterned-title

acf/wide-cards

Elevate acquires Rise Group, expanding its Middle Eastern market presence significantly. 
The acquisition brings Rise’s offices in Riyadh, Jeddah, Abu Dhabi, and Dubai under Elevate. 
Founders Holmes and Berrington will take on leadership roles following the takeover. 
Rise to act as the certified global agent for the NFL team San Francisco 49ers in the UAE. 
This move highlights Elevate&#8217;s ambition to be a top player in the Middle East market.

Emirates Development Bank launched the billion-dirham Emirates Growth Fund to support UAE SMEs. 
The fund targets SMEs in the &#8220;middle gap&#8221; needing strategic and financial support. 
Investments involve minority stakes, keeping control with founders while offering governance and growth support. 
Annual revenue of 10 million dirhams is needed, with 10-50 million dirham investments per company. 
The initiative aligns with UAE goals in manufacturing, food security, healthcare, and advanced tech.

Iraq&#8217;s tech scene gains momentum with EQIQ&#8217;s venture capital expansion to $30 million. 
EQIQ targets e-commerce, logistics, and fintech sectors, supporting startups and established businesses. 
The fund allocates 80% to build interconnected companies for a stronger digital ecosystem. 
Seasoned investor Mohammed Al-Hakim leads EQIQ, spurring growth in Iraq&#8217;s digital economy. 
EQIQ&#8217;s proactive approach helps nurture local startups, enhancing Iraq&#8217;s digital innovation landscape.

The Founders’ Voice is where you’ll hear raw, honest conversations with the entrepreneurs and dreamers changing the game in the MENA region.

The Founders' Voice 🎙️

acf/video-cards

bahareth

mo-salah-verticle

Mo Salah Verticle

ahmed-sofian-bayrma-16-09-4

Ahmed Sofian Bayrma 16-09

Aramco Ventures leads a 36 million Saudi Riyal funding round for startup Arkestro. 
Arkestro&#8217;s AI platform optimises procurement using behavioural science and game theory. 
The funding supports Arkestro&#8217;s expansion in energy and heavy industry sectors. 
This investment aligns with the trend of AI integration in traditional industries. 
Arkestro&#8217;s success could revolutionise global industry procurement processes.

Kuwaiti startup Circle secured $6 million in Series A funding for rapid delivery services. 
Founded by Altaf Al-Thukair, Circle aims to deliver groceries in under 20 minutes. 
Its model uses local fulfilment centres and tech-driven warehouses for quick service. 
Circle plans to expand regionally by 2026, enhancing convenience with tech innovations. 
Convenience shopping is evolving, and Circle might soon be a household name.

SARsatX, a Saudi start-up, raised $2,6 million in seed funding for AI-driven analytics solutions. 
Lead investor was TONOMUS, part of the NEOM city project, with other notable co-investors. 
Founded in 2023 by five entrepreneurs, SARsatX targets industries like agriculture and energy. 
It&#8217;s the first regional space-focused start-up to graduate from Seraphim Space Accelerator. 
Future plans include expanding from MENA to Africa, South East Asia, and Latin America.

ElGameya secures major funding to expand its digital savings solutions in Egypt. 
The funding round was led by Ayady for Investment and Development with several venture firms. 
ElGameya digitises traditional Egyptian savings groups, making them more accessible via an app. 
This initiative supports those without easy access to mainstream banking services. 
It&#8217;s a modern twist on cultural practices, enhancing trust and community bonds.

Tradoor, a decentralised trading platform on the TON network, raised $3,2 million in investment. 
Notable investors include TON Ventures, Kenetic Capital, and VentureSouq supporting Tradoor&#8217;s development. 
Around $1,5 million of the funding is allocated to purchasing digital tokens for growth. 
Tradoor&#8217;s turbo trading feature enables up to 10,000 transactions per second with quick confirmations. 
Future plans include AI-powered tools and social trading features for enhanced user interaction.

A 200 million Saudi Riyal investment aims to ease SME working capital financing. 
Lendo and the Industrial Investment Fund partner to offer quick, transparent financial solutions. 
This collaboration emphasises modern cooperation between Saudi&#8217;s public and private sectors. 
The programme supports SMEs with purchase order financing and invoice funding options. 
This initiative highlights SMEs&#8217; vital role in innovation and employment growth.

RIIG has rebranded to HOOTL, focusing on AI-driven automation in healthcare and insurance sectors. 
HOOTL aims to streamline insurance processes using AI for document verification and claims settlement. 
Their new base in the UAE leverages the country&#8217;s digital innovation and growth potential. 
They plan to strengthen ties with both public and private sectors, including regional universities. 
Previously focused on cybersecurity, they&#8217;re now expanding into broad AI applications.

Tarjama, a UAE-based AI company, secured $15 million in Series A funding. 
They developed Pronoia, an advanced Arabic Language Model outperforming other AI in Arabic tasks. 
Arabic,AI platform rapidly streamlines complex business operations for Middle Eastern enterprises. 
Future plans include launching an AI Academy and expanding globally, supported by strong investor backing. 
Founder&#8217;s vision: Transform Arabic business tasks and establish a comprehensive AI ecosystem.