The CTO Show with Mehmet - MEA Tech & Startup Digest: Mar 31, 2024

Author

Mehmet Gonullu
March 31, 2024

Welcome to the 60th 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 1744 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:

 

1.      Ahlan App's Funding Milestone: Bahrain's Ahlan App, a pioneering loyalty and delivery platform, has successfully raised $3 million, achieving a $15 million valuation, thanks to Hope Ventures, Al Rajhi Holdings, and angel investors. Launched in 2021, Ahlan enhances customer experiences with cashback rewards for various services. Read More

2.    Uzbekistan's Unicorn, Uzum: Uzum, an e-commerce sensation from Uzbekistan, has reached unicorn status by securing $114 million in Series A funding. This investment, led by FinSight Ventures, underscores Uzum's phenomenal growth and its vision to revolutionize fintech and e-commerce. Read More

3.    ANAVA's Commitment to African Startups: Managed by Smart Capital, Tunisia's ANAVA has invested $4.3 million in the Janngo Capital Startup Fund, focusing on gender equality in technology across Africa. This investment highlights a broader strategy to empower startups, especially those led by women and youth. Read More

4.   The Evolving VC Landscape in Africa: The "State of VC Funding in Africa 2023" report offers insights into shifting venture capital trends, with fintech startups leading the charge. Despite global challenges, the focus is on bolstering African startups through indigenous investments. Read More

5.   Sprints' Bridge Round Success: Egypt's edtech innovator, Sprints, has raised a $3 million bridge round to expand its reach. Led by Disruptech Ventures, this investment supports Sprints' mission to address the tech talent gap in the MEA region. Read More

6.   Garbaliser's Agritech Innovation: With a $436,000 investment from Shark Tank Dubai, Lebanon's Garbaliser is set to transform organic waste into eco-friendly fertilizer. This move not only underscores environmental sustainability but also marks Garbaliser's expansion into the UAE. Read More

7.    Satgana's Climate-Tech Venture Capital Fund: Closing its first fund at £8 million, Satgana is dedicated to investing in startups focusing on climate change mitigation. This initiative reflects a strong commitment to environmental sustainability in Africa and Europe. Read More

8.   Smart Advice's AI Fintech Achievement: Istanbul's Smart Advice has been accepted into the AI Startup Factory by İş Bank Group. This recognition highlights Smart Advice's innovative approach to finance, aiming to enhance financial literacy and democratize investment opportunities. Read More

 🔍 Actionable Insights From Mehmet

This edition showcases the vibrant and diverse investment landscape in the MEA region, highlighting significant strides in fintech, agritech, edtech, and climate tech. As startups continue to drive innovation and address pressing societal needs, the support from venture capital and strategic investments plays a crucial role in shaping a sustainable and technologically advanced future.

Fintech remains a dominant force, reflecting the sector's potential for growth and innovation. Meanwhile, investments in edtech and agritech underscore a commitment to educational advancement and environmental sustainability. The emergence of climate tech VC funds, like Satgana, marks a pivotal shift towards prioritizing investments that contribute to combating climate change, emphasizing the importance of creating a resilient and sustainable economy.

 

Global Tech Industry and Startup Trends & News This Week

  • OpenAI unveiled new AI tech that can recreate human voices, raising ethical concerns [Economic Times].

  • Several startups received funding this week, including Iron Sheepdog (short-haul trucking), Robovision (computer vision AI), The Brandtech Group (AI in advertising), Skyflow (data privacy in AI), and Matter Venture Partners (focusing on next-gen hardtech) [TechCrunch, Tech Funding News].

  • Investment firm Accel picked eight new AI and industry-focused startups for its accelerator program [Economic Times].

 

Episodes Recap:

 Unlock the secrets of AI's role in our future as I welcome back Ken Lonyai , a mastermind in product and design, for a critical examination of trust in artificial intelligence. Touching on the intriguing parallels of AI's growth to that of the internet's surge in the late '90s, we unravel the complexities of bias and human manipulation that challenge our reliance on AI. Ken brings his expertise to the table, showcasing real-world examples where AI has mirrored societal biases and discussing the necessity of clarity in AI data training—a pivotal factor for technology's trustworthiness.

From the vibrant streets of New York City to the cutting-edge forefront of medical technology, Dr. Harvey Castro, MD, MBA. 's story is nothing short of a rollercoaster through adversity and triumph. Imagine being a teenager with the audacity to start a business at 16 and then pioneering the very first medical app; that's the kind of innovative spirit Harvey brought to our latest conversation. We follow Harvey's remarkable trajectory—writing medical guides in med school, launching a vitamin company during his residency, and his eventual development and sale of a network of emergency rooms. His journey, fueled by an unwavering dedication to patient care, showcases the essence of passion meeting purpose.

 

Embark on a journey through the AI revolution with Silicon Valley's very own Manish Patel , as he unveils the cutting-edge developments poised to reshape our world in 2024. As co-founder of Nava Ventures and an early innovator at Google, Manish's narrative weaves through his ground-breaking work on AdWords and Maps to his current mentorship role at Stanford. Our conversation goes beyond the buzz, breaking down the real promise of AI technology and its readiness to deliver substantial returns across diverse sectors, transforming consumer experiences, and enhancing enterprise productivity.

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

 

Best, Mehmet