The CTO Show with Mehmet - MEA Tech & Startup Digest: Apr 28, 2024

Author

Mehmet Gonullu
April 28, 2024

Welcome to the 64th edition of The CTO Show With Mehmet Gonullu 's MEA Tech & Startup Digest" Weekly Newsletter! If you're new here, I extend a warm welcome to you, joining our dynamic community of 1786 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!

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 🌍 Regional Investment Highlights & Startup Insights:

 Today's issue is jam-packed with lots of news!

1.      Waffarha's Expansion: Egypt-based fintech startup Waffarha has secured a significant seed investment led by Value Makers Studio (VMS). The funds are earmarked for technological enhancements and expansion into Saudi Arabia. Read more.

2.    Africa's Funding Climate: Despite a global downturn affecting startup investments, Africa shows signs of resilience with new venture capital funds emerging, suggesting continued interest in the continent's potential. Read more.

3.    Bokra's Financial Boost: Egyptian fintech Bokra has raised $4.6 million to democratize wealth management in MENA, with plans to launch a comprehensive app soon. Read more.

4.   Bluworks' HR Tech Advancement: Securing $1 million in pre-seed funding, Egyptian startup bluworks aims to refine HR solutions for the blue-collar sector. Read more.

5.   Aumet's Innovative Market Place: Yahya Aqel is spearheading Aumet to revolutionize MENA's pharmaceutical supply chains, enhancing supplier-pharmacy connections with AI. Read more.

6.   TVM Capital Healthcare's Strategic Investment: With a $17 million investment in Neurocare Group AG, TVM Capital is advancing mental health innovations in MENA and beyond. Read more.

7.    VMS Bridge Programme Winners: Celebrating the achievements of ten Egyptian startups, this initiative fosters growth across Egypt and Saudi Arabia. Read more.

8.   WEE Marketplace's Growth Plans: This UAE-based e-commerce startup's recent funding of $10 million underscores its rapid expansion and innovative delivery services. Read more.

9.   Madica's Support to African Startups: Through a robust 18-month program, Madica is fostering growth in promising African startups like Kola Market, GoBEBA, and NewForm Foods. Read more.

10. Shorages Expands in GCC: With new funding, Shorages is set to enhance its logistics operations across the GCC, supporting e-commerce growth. Read more.

11.   YTU Startup House Goes Global: Promoting Turkish technological prowess, the YTU Startup House now has a new office in London to bridge innovations. Read more.

12. Halkbank's Fintech Initiative: In collaboration with YTU Startup House, Halkbank's HUBrica Acceleration Program is set to revolutionize Türkiye's fintech scene. Read more.

13.Lonca Entrepreneurship Center Graduates: Supporting Türkiye's tech startup ecosystem, Lonca has facilitated over $5 million in investments for its latest graduates. Read more.

14. Fuzul Ventures' Strategic Partnerships: Aiming for more than financial gains, Fuzul Ventures is seeking partnerships to enhance the entrepreneurial ecosystem in Turkiye. Read more.

15. Türk Telekom Ventures' Portfolio Growth: With a portfolio now valued at $190 million, Türk Telekom continues to be a significant player in fostering startup innovation. Read more.

 🔍 Actionable Insights From Mehmet

 With Waffarha and Bokra raising substantial funding, it's clear that fintech remains a vibrant sector.

The investment in WEE Marketplace and Shorages emphasizes the expansion and scaling opportunities within e-commerce and logistics. There's a growing need for solutions that streamline operations and enhance the customer delivery experience in the region.

The collaborative efforts of YTU Startup House and Halkbank highlight the benefits of strategic partnerships. Similar to Türkiye's approach, startups across the region should consider forming alliances with academic institutions, government programs, and corporate entities to accelerate growth and enhance credibility.

 Global Tech Industry and Startup Trends & News This Week 

  • Singapore state investment firm Temasek and US-based Fidelity are in final discussions to infuse around $200 Mn into Lenskart, the India based eyewear company. [Inc Magazine]

  • A partnership between Klarna, a Swedish fintech giant, and Uber was announced. This partnership aims to revolutionize digital transactions by introducing seamless payment options across Uber and Uber Eats platforms. [Techcrunch]

  • U.S. health conglomerate Kaiser is notifying millions of current and former members of a data breach after confirming it shared patients’ information with third-party advertisers, including Google, Microsoft and X (formerly Twitter). [Techcrunch]

 

Episodes Recap:

In this episode of the CTO Show, host Mehmet is joined by Michael Becker , a marketing technology expert and entrepreneur based in Dubai as part of the Antler Cohort. Michael shares insights from his decade-long career in content and marketing, his journey into launching a startup in Dubai's Antler Accelerator program, and the upcoming release of his book 'Content Capitalist'. The conversation covers the transition from traditional to content-centric marketing models, the importance of video and immersive technologies in modern marketing, and leveraging AI tools for efficiency while maintaining human touch.

 

 This episode of the CTO Show With Mehmet features a fascinating discussion with Kirk Penn , CEO and Principal Advisor at Service Management Specialists, from Sydney, Australia. Kirk chronicles his journey and expertise in IT Service Management (ITSM) and IT Infrastructure Library (ITIL) practices, detailing how his company helps organizations streamline their IT processes. He shares insights into the challenges and successes of ITSM implementation, highlighting a case study with a commercial real estate company.

 

 In this episode of the CTO show with host Mehmet, Dean Croshere shares his unique professional journey, underscoring the importance of assertiveness and emotional awareness in leadership and business. From starting his career through a Facebook ad to running a factory in Thailand and eventually pivoting his career towards business and leadership consultancy, Dean's story highlights the significance of asking effective questions, both of oneself and others, to achieve success. The discussion delves into the five core fears that can hinder startups and how entrepreneurs can navigate these challenges, emphasizing product simplicity, testing, and the willingness to ask for help.

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

 

Best, Mehmet