The CTO Show with Mehmet - MEA Tech & Startup Digest: Apr 21, 2024

Author

Mehmet Gonullu
April 21, 2024

Welcome to the 63rd edition of " The CTO Show's MEA Tech & Startup Digest" Weekly Newsletter! If you're new here, I extend a warm welcome to you, joining our dynamic community of 1774 subscribers across LinkedIn and Beehiiv. Your presence, whether as a first-timer or a loyal follower, is the heartbeat of this platform dedicated to unfolding narratives in tech, startups, and entrepreneurship.

 What is inside?

-      Weekly Startup Insights From Middle East, Türkiye & Africa

-      Global Tech Industry and Startup Trends & News This Week

-      Episodes Recap

 Let's not wait any longer and dive into this week's rich insights!

This Week’s Exclusive Sponsor:

SLINGSHOT 2024, Asia’s premier global startup competition, is inviting you to showcase your solution in one of the following domains:

  • Consumer Media, Goods and Services

  • Environment, Energy and Green Technologies

  • Health and Biomedical

  • Manufacturing, Trade and Connectivity

  • Transformative Digital Technologies 

 🏆Prizes*: 

  • A pool of grant prizes worth over S$1.2 million

  • A sponsored trip to Singapore to participate in the Physical Immersion program

  • Eligibility for the EntrePass work visa for foreign entrepreneurs in Singapore

  • Network and collaborate with industry leaders and experts at Singapore Week of Innovation and Technology (SWITCH)

 *T&Cs apply.

 

 🌍 Regional Investment Highlights & Startup Insights:

I hope everyone in my UAE network is doing well and staying safe. It's been a tough week; if anyone was affected, please reach out to me if I can offer any help.

 

1. Pula: Empowering Farmers with Innovative Insurance Solutions Kenyan-based insurtech Pula has successfully raised $20 million in Series B funding. This significant capital infusion, led by BlueOrchard, will bolster Pula's mission to expand agricultural insurance for smallholder farmers across Africa, Asia, and Latin America, focusing on mitigating risks from pests, diseases, and extreme weather. Read more.

2. Vispera: Boosting Retail with AI Technology Turkish AI tech firm Vispera has secured a $500,000 investment from APY Ventures. This funding boosts Vispera's valuation to $46.2 million as it enhances retail operations through advanced image processing and AI, showcasing a significant leap in transforming retail dynamics. Read more.

3. Injini-Mastercard Foundation EdTech Fellowship In a major boost for educational technology in South Africa, twelve startups have been chosen for the Injini-Mastercard Foundation EdTech Fellowship. This program will provide crucial support in scaling their innovations across Africa, aiming to transform educational outcomes. Read more.

4. Penny Software: Advancing B2B Procurement Saudi Arabian startup Penny Software has completed a pre-Series A funding round with an undisclosed amount. This investment will fuel their regional and global expansion, further digitizing the procurement process for enhanced efficiency and compliance. Read more.

5. U-topia: Innovating Web3 Services UAE-based U-topia has garnered $850,000 from GDA Capital to innovate within the Web3 space, combining AI, GameFi, and video entertainment to revolutionize digital asset engagement and IP licensing. Read more.

6. Microsoft and G42 Partnership Microsoft has invested $1.5 billion in UAE's AI giant G42, marking a pivotal partnership aimed at enhancing AI and cloud solutions across various sectors. This collaboration underscores the growing significance of AI technologies in the region. Read more.

7. Fortis: Enhancing Retail and Fintech in MENA With a fresh injection of $20 million in Series A funding, UAE-based Fortis is set to expand its innovative retail tech and fintech solutions across the MENA region, driving forward its customer-centric services. Read more.

8. Egypt's Potcast Productions: Expanding Cultural Podcasts Potcast Productions, an innovative media company based in Egypt, has successfully raised funding through the Shark Tank program to expand into Saudi Arabia and the UAE. This move aims to foster cultural integration and advance the podcast industry in the region. Read more.

9. Beltone Venture Capital: Supporting MENA Startups Beltone Venture Capital, together with CI Venture Capital, is managing a $30 million fund dedicated to supporting innovative tech startups across the MENA region. This fund focuses on investments in pre-seed and seed stages, already making notable contributions to startups such as Bosta and Trella. Read more.

10. Midas: Sparkling in Turkish Fintech Scene Midas, an Istanbul-based equities trading platform, has raised $45 million in a Series A funding round. This significant investment underscores the sustained interest in Turkey's fintech sector, as Midas aims to democratize access to financial markets. Read more.

11. Arab Therapy: Expanding Mental Health Support Jordan-based Arab Therapy has secured $1 million in seed funding to grow its online mental health platform. This initiative will enable B2B sales and broaden its reach, connecting more individuals with licensed mental health professionals across new markets. Read more.

 🔍 Actionable Insights From Mehmet

My advice this week to all founders is to keep an eye on developing trends, ensuring they remain at the cutting edge of their respective fields. As the ecosystem evolves, staying informed and engaged will be key to navigating the challenges and seizing the opportunities that lie ahead.

 Global Tech Industry and Startup Trends & News This Week

  • Boston Dynamics New Robot: Tech company Boston Dynamics unveiled a new robot, sparking discussions about robotics and automation advancements. Details about the robot's capabilities are emerging [TechCrunch].

  • AI and Climate Change: Jeff Bezos' Earth Fund launched a $100 million competition to find AI solutions for climate change, highlighting the potential of AI for environmental good [GeekWire].

  • Funding for RISC-V Processors: Startup Rivos secured $250 million in funding to develop open-source RISC-V processors, potentially impacting the future of AI hardware [Tech Funding News].

 Episodes Recap:

 

 In this episode of 'The CTO Show with Mehmet', Abdul Rahman Janoo , co-founder of Tericsoft, shares his journey from product manager to tech entrepreneur, offering insights into the challenges and victories of startup life.

Abdul Rahman recounts his multiple startup experiences, emphasizing the transition from failing ventures to successful ones, particularly highlighting his work in waste management and the pivot towards AI and tech services.

 In this episode of the CTO show, host Mehmet is joined by Habiba - , CTO and co-founder of Metric, who shares her rich background in AI and machine learning, transitioning from academia to the tech industry, and her current role at Metric.

Habiba discusses her commitment to leveraging AI for providing personalized financial management solutions to small and medium-sized businesses.

 

 In this episode of the CTO Show, host Mehmet interviews Roman Axelrod, CEO and founder of XPANCEO. Roman shares his journey of building and selling technology companies and discusses his latest venture into developing a next-generation computing solution. With a vision to overcome the limitations of current gadgets, Roman and his team at XPANCEO are creating a soft contact lens capable of providing an extended reality (XR) experience, including image rendering, biological parameter measurement, and night vision.

 

Connect & Grow with Us

  • Share Your Story 🎙️: Got insights in tech, startups, or entrepreneurship? Reach out and let's feature your journey on "The CTO Show With Mehmet."

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  • Book Mentorship 🔍: Elevate your venture with personalized guidance. Book a mentorship session with me, Mehmet, and let's unlock your full potential.

  • Spread the Word 🌟: Know a tech & startup enthusiast? Invite them to our community for weekly doses of innovation and insight.

 

Thank You 🙏: Your engagement drives our shared journey forward. Here's to another week of innovation and growth!

 

Best, Mehmet