Seed round led by Waad Investment, with participation from 500 Sanabil, Omantel, OQAL, and SEED Holding.
Nqoodlet offers smart expense cards, automated finance tools, and a service hub for SMEs.
Over 600 small and medium-sized businesses in the region currently use the platform.
New funding will support infrastructure expansion and the launch of open banking and tax automation tools.

Iraq-based iQ Cars has secured significant seed funding led by Euphrates Ventures for expansion. 
Founded by Amer Saleh, iQ Cars connects buyers and sellers with an advanced digital marketplace. 
As Iraq’s first PJSC startup, it focuses on transparency and growth in the automotive sector. 
With new funds, plans include enhancing user experience and expanding to more cities. 
iQ Cars aims to revolutionise Iraq&#8217;s car market, making transactions easier and more transparent.

Fuze, a UAE-based startup, secured $12,2 million in Series A funding. 
Investors include Galaxy and e&#038; capital, boosting Fuze&#8217;s total funding to $20 million. 
Founded in 2023, Fuze offers digital asset infrastructure to diverse financial sectors. 
Funds will expand operations, enhance compliance, and support stablecoin and payment initiatives. 
Fuze&#8217;s innovative approach positions them as a leader in the fintech landscape.

BNY Mellon obtained a regional headquarters licence to expand operations in Saudi Arabia. 
The new RHQ in Riyadh will centralise strategic guidance and administrative coordination. 
Saudi Arabia&#8217;s Vision 2030 aligns with BNY Mellon&#8217;s growth and regional partnership aspirations. 
International companies, including Goldman Sachs, are attracted by incentives and mandatory headquarters rules. 
Riyadh is emerging as a major financial hub, drawing significant global investment interest.

Credilab, a fintech firm, received a US$1 million investment from Dubai&#8217;s Triple Helix Capital. 
They offer same-day digital loans to micro-businesses, simplifying what is traditionally a complex process. 
Credilab&#8217;s revenues surged 116% in 2024&#8217;s first half, with a loan book of US$13,3 million. 
The investment will enhance their tech capabilities and expand lending products at a crucial phase. 
Credilab is poised to become a significant fintech player in Southeast Asia and beyond.

The ZIGChain Summit introduced DeFAI, a $25 million fund for DeFi and AI startups. 
The fund is supported by ZIGLabs, Disrupt and DWF Labs to enhance blockchain and AI innovation. 
There&#8217;s significant potential in combining blockchain with AI for decentralised finance and digital strategies. 
This follows ZIGLabs’ previous announcement of a $100-million ecosystem fund to support startups. 
Keep an eye on the DeFAI fund for future groundbreaking innovations in the tech community.

Saudi-based startup Tooba secured $8 million in pre-seed funding, led by Alwaalan Company. 
The funds will develop an AI-based healthcare platform streamlining employer-based services. 
Tooba aims to enhance efficiency, reduce costs, and improve patient and provider experiences. 
Founded by Faiz Al Anzi, Tooba seeks to make healthcare accessible and affordable for employers. 
Tooba&#8217;s innovative approach could impact healthcare delivery across the region in future years.

MedIQ has secured $6 million in Series-A funding, attracting Gulf region interest. 
The Pakistani startup connects patients, insurers, and healthcare providers efficiently using AI technology. 
With roughly 10 million users, MedIQ aims to expand in Saudi Arabia and other Gulf nations. 
Healthcare platforms like MedIQ are booming, driven by rising demand for digital solutions. 
Previous seed round successes highlight investor confidence in MedIQ&#8217;s growth potential.

Nice One Beauty reported a solid 10,2% jump in net profits for Q1 2025. 
Profits surged 311% quarter-on-quarter due to stronger revenues and reduced sales expenses. 
Sales increased by around 30% thanks to effective marketing and a broader product range. 
Revenues edged up by 5,8%, bolstered by more orders and new customer acquisition. 
Operational cost rises pose challenges alongside profit growth following business expansions.

Hong Kong-based Animoca Brands is opening a new office in Dubai to expand its presence. 
Omar Elassar has been appointed as managing director for the Middle East region. 
The Dubai office aims to be a hub for local start-ups and global collaborations. 
Elassar, with significant Web3 experience, will lead strategic growth in the Middle East. 
Dubai&#8217;s vibrant business climate makes it an ideal location for Animoca&#8217;s expansion.

BloomPath, a SaaS startup, raised $1,3 million in pre-seed funding from RAED Ventures. 
The funding will enhance BloomPath’s AI-driven platform for improved team management and productivity. 
BloomPath is described as revolutionising engineering functions and tracking team priorities effectively. 
Investors praise BloomPath&#8217;s bold vision of reshaping organisational performance and employee engagement. 
Initial funding will boost product development and expand BloomPath’s presence in global markets.

True Gamers is revolutionising gaming cafés by integrating esports with coffee culture. 
They secured a $5 million seed funding to expand in the Middle East, North Africa, and Europe. 
Following a $45 million raise, they plan 150 new venues in Saudi Arabia by “Vision 2030.” 
They will enhance their digital platform for gamers to access events and track leaderboards. 
With esports booming, True Gamers is set to open more cafés in the UAE, Morocco, and Europe.

Darbak Plus completes its first pre-seed investment round through the Oman Future fund. 
The platform targets companies and institutions, offering seamless online booking for various adventures. 
Their service includes designing customised journeys with bookings up to six months in advance. 
Customers praise the secure online payment system, making booking straightforward and safe. 
Darbak Plus aims to make a significant mark on Oman&#8217;s rapidly evolving tourism sector.

Saudi start-up Erad secured $16 million in a pre-Series A funding round. 
Investors include Y Combinator, Nuwa Capital, and Khwarizmi Ventures, showing strong interest. 
Erad offers swift alternative financing solutions for SMEs, promising quick approvals within 48 hours. 
The company plans to expand regionally with its new funding boost. 
Participation in Y Combinator’s accelerator highlights Erad&#8217;s innovative approach to SME financing.

BoxCommerce, a global e-commerce firm, launches in the UAE to support local SMEs. 
The company offers user-friendly platforms for online shopping to cater specifically to local businesses. 
CEO Craig Mcleod expects UAE e-commerce to expand to AED 48 billion by 2028. 
BoxCommerce&#8217;s localisation strategy includes integrating UAE-specific digital payments and delivery methods. 
Previously successful in markets like Kenya, BoxCommerce partners with MasterCard for greater credibility.

Meran and Welnes merge to create a unique health and sports app for Saudis. 
Meran will bring AI-driven meal plans, while Welnes contributes community-focused fitness connections. 
The partnership aligns with Vision 2030 and aims to address diverse health needs in Saudi Arabia. 
Key Saudi investor from Droob Ventures facilitated the merger, with headquarters in Riyadh. 
The combined firm aims to improve Saudi quality of life through accessible, interactive health solutions.

CleanMob secures €1,3 million in funding from notable investors like Bpifrance and CDG Invest. 
Founders Khalil and Salah El Hajji focus on innovative smart fleet management technology. 
Their system uses virtual sensors, AI, and physics modelling to provide reliable data insights. 
CleanMob aids in managing multiple energy types, supporting transitions to sustainable fleets. 
Morocco&#8217;s growing reputation as a tech hub boosts interest in start-ups like CleanMob.

Dataiku introduces AI Agents with Dataiku for streamlined creation and management of AI agents. 
Roughly 20% of customers use their platform to integrate Generative AI into workflows. 
The platform addresses challenges of chaotic AI setups, emphasising control and governance. 
It offers both no-code and full-code options, plus tools for ongoing monitoring and optimisation. 
The platform ensures seamless integration with existing data environments to enhance ROI.

Zest Equity, a UAE-based fintech, secured $4,3 million in Pre-Series A funding. 
Investment leaders include Prosus Ventures and Morgan Stanley Inclusive &#038; Sustainable Ventures. 
The funds aim to expand operations in Saudi Arabia and enhance technical capabilities in the UAE. 
Zest Equity intends to attract specialised talent and launch new products. 
Founders Zuhair Shamma’ and Rawan Baddour are steering promising growth in the fintech scene.

Calo has acquired UK meal delivery brands Fresh Fitness Food and Detox Kitchen. 
The transition aims to deliver seamless meal plans on Calo&#8217;s platform by May. 
Calo&#8217;s recent Series B funding of $25 million supports international growth strategies. 
Having expanded across the Middle East, Calo plans further growth in Europe and the US. 
Calo intends to become a global household name in food technology.

iMENA Group has raised $135 million, moving closer to its goal of going public. 
The company restructured into iMENA Holding, a closed joint-stock Saudi company. 
Investment will enhance flagship businesses like OpenSooq, SellAnyCar, and Jeeny. 
iMENA aims for an IPO on the Saudi Tadawul, strengthening its Middle East presence. 
A new board of directors will guide the next growth phase amid market challenges.

Techrar, a Saudi startup, raised $1,6 million led by Wa&#8217;ed Ventures. 
Founded in 2022, Techrar provides a platform for managing billing and subscriptions seamlessly. 
Funding will enhance product development, team growth, and market expansion. 
Industry confidence in Techrar is evident with significant investment support. 
Transforming funding into growth will be crucial as Techrar scales strategically.

Prop-AI Earns Dubai AI Seal, Revolutionizing Real Estate Investment with Cutting-Edge Technology

Prop-AI is the first PropTech company to receive the Dubai AI Seal.
The company uses AI to offer smarter, data-driven real estate investment solutions.
Its platform integrates over 3 billion data points, including Dubai Land Department records.
The tool helps investors make quicker, more informed decisions with real-time insights.
Prop-AI is part of Dubai’s REES initiative and has received backing from top investors.

UAE’s Hushday Secures $550K to Bring Exclusive Premium Sales to the GCC

Hushday raised $550K (approximately AED 2 million) in a pre-seed funding round.
The platform offers luxury brands a controlled way to manage excess inventory.
It plans to launch first in the UAE, then expand into Saudi Arabia, Qatar, and Kuwait.
Operates on a private, invitation-only model offering flash sales with AI-powered recommendations.
Targets the booming $16 billion GCC premium off-price retail market.

TDF signed a financing agreement with Dar Al Arkan and Smart Destination.
The project is a luxury mountain resort in Abha’s Al Soudah area.
It will include a hotel, serviced apartments, restaurants, and retail outlets.
The development aligns with the “Saudi Summer” and “Spirit of Saudi” campaigns.
TDF aims to attract private investment to Asir’s tourism sector.

Startups