The CTO Show with Mehmet - MEA Tech & Startup Digest: May 5, 2024

Author

Mehmet Gonullu
May 05, 2024

Welcome to the 65th 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 1796 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:

 This time is for Africa! A lot of news from there today.

 Fintech Innovations & Expansions

  • Norrsken22’s Strategic Bets on Africa: With unicorn backing, Norrsken22 plans to expand its investment in African fintech startups, signaling robust growth in the sector. Read more.

  • Flutterwave Readies for IPO: Aiming for a NASDAQ listing, Africa’s Flutterwave is bolstering its governance to navigate a challenging market. Read more.

  • Payless Africa Launches in Kenya: Introducing a dynamic payment platform for the youth, aiming to bridge financial inclusivity. Read more.

  • OPay’s Impending IPO: As it approaches a $3 billion valuation, OPay illustrates the growth potential in Nigeria’s fintech landscape. Read more.

Startup Ecosystem & Venture Capital Initiatives

  • Connected Africa Summit 2024: Celebrating sixteen diverse startups, with a spotlight on Ebikes Africa for innovative logistics solutions. Read more.

  • Jasoor Fund’s $180M Initiative: Launched by ADQ from Abu Dhabi and the Oman Investment Authority have launched the $180 million aim to strengthen tech investments across MENA, focusing on sectors like fintech, edtech, and more. Read more.

  • Klumi Ventures' Web3 Fund: Launching as UAE’s first regulated Web3 VC firm, it underscores a significant tech evolution in the region. Read more.

Highlighting Sustainable and Tech Innovations

  • Nigerian Chowdeck’s Food Delivery Aspirations: Navigating a competitive market with fresh strategies and seed funding. Read more.

  • Renda’s Expansion in Logistics: Bolstering order fulfillment capabilities in Africa with new funding aimed at operational enhancements. Read more.

  • Climate Tech’s Funding Landscape: Spotlight on startups like Rensource Energy, driving solutions for Africa’s climate goals amidst funding challenges. Read more.

  • Dubizzle Steps further into the Automotive Sector: Strengthening its market presence through strategic acquisition of Drive Arabia, aimed at expanding service offerings. Read more.

Emerging Ventures and Market Opportunities

  • Madica’s Investment in African Startups: Committed to funding 10 pre-seed startups by year-end, focusing on under-represented founders. Read more.

  • Bon Plus’ Seed Round in Oman: Enhancing digital solutions in the HoReCa sector with fresh investments. Read more.

  • Abyan Capital's Financial Growth: Securing $18 million in a Series A funding round to enhance its robo-advisory services in Saudi Arabia. Read more.

 🔍 Actionable Insights From Mehmet

This week’s roundup of startup activities across the Middle East, Türkiye, and Africa reveals several vital trends and opportunities that are shaping the regional markets:

Fintech’s Forward March: The preparation for IPOs by major players like Flutterwave and OPay signals maturation within the African fintech sector, suggesting robust investor confidence and an increasingly regulatory-friendly environment.

Venture Capital and Cross-Regional Synergies: The launch of substantial funds such as the Jasoor Fund and Klumi Ventures’ Web3 initiative illustrates a deepening of investment pools available to startups.

Emerging Market Dynamics: The spotlight on startups like Bon Plus and Madica investing in pre-seed stages shows an increasing appetite for early-stage investments. This shift could encourage more entrepreneurial activities at a grassroots level, particularly in sectors that have been traditionally underfunded.

 Global Tech Industry and Startup Trends & News This Week

 

Episodes Recap:

 In this episode of The CTO Show with Mehmet, we dive into the fascinating intersection of technology and culinary arts with Olufisayo Oluwadiya, the visionary founder of OKAO Inc. Discover how her passion for food writing and AI led to the creation of Resactly, a game-changing AI and ML platform that personalizes dining experiences like never before. 

 In this episode of "The CTO Show with Mehmet," Sue Mysko , founder of Hire A Fractional and a seasoned fractional CMO, dives deep into the evolving world of fractional executives. Discover how part-time C-suite roles are reshaping business landscapes and enabling companies to adapt, innovate, and grow in today’s dynamic market.

 Join us on this enlightening episode of "The CTO Show with Mehmet," where we sit down with Jon Gillham , founder of Originality.Ai. From his days as a mechanical engineer to becoming a trailblazer in the digital content arena, Jon shares his unique journey and how AI is reshaping the landscape of content marketing.

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

 

Best, Mehmet