The CTO Show with Mehmet - Week in Review: Feb 11, 2024

Welcome to the 53rd edition of "The CTO Show With Mehmet" Weekly Recap Newsletter! If you're new here, I extend a warm welcome to you, joining our dynamic community of 1654 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.

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 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!

 🌍 Weekly Startups Insights:

 This week's insights paint a picture of resilience and innovation across the MEA startup ecosystem. From travel technology to fintech, and edtech to proptech, the diversity and dynamism of this region's entrepreneurial spirit are vividly on display. The focus on digital transformation, accessibility, and financial inclusivity speaks volumes about the potential for impactful growth and development.

Travel Technology Sector

The Digital Hotelier's Seed Funding Success: The UAE-based travel tech company has raised $1 million in Seed funding, with Silicon Valley's Plug and Play and Bahrain's Hope Funds leading the charge. This investment will boost the development of their multilingual hotel software and market expansion efforts. Read More

EdTech Sector

Klas's Online Teaching Platform: Nigerian EdTech startup Klas has secured $1 million in pre-seed funding, with ambitions to establish 100,000 online schools globally by 2027. This platform is poised to revolutionize e-learning with integrated tools for a seamless online education experience. Read More

Venture Capital

Oraseya Capital's Ambitious Investment Plan: With a $136 million fund, Oraseya Capital aims to invest in over 100 startups in the next 4-5 years, focusing on companies with ties to the UAE. This initiative supports Dubai's Economic Agenda D33, fostering SME growth in emerging sectors. Read More

Startups and Investment Trends

MENA Region's Funding Landscape: Notable investments in Saudi Arabia, Egypt, and the UAE highlight a keen focus on development and innovation. Among them, Ejaro, iStoria, Roboost, and Global Equipment Trading have secured significant funding to fuel their growth strategies. Read More

SaaS and Beauty Sector

Bookr's Bridge Funding Round: Kuwait's Bookr, a platform connecting customers with beauty services, received bridge funding from Plus VC to enhance its offerings and expand in the GCC region. Read More

Market Overview

MENA Startups Funding Report: January 2024 saw $86.5 million raised across 33 deals in the MENA region, with significant contributions to traveltech, fintech, and healthtech sectors. Despite a slowdown, the UAE and Egypt are showing promising signs of recovery. Read More

AI and Dubbing

CAMB.AI's Seed Round: The UAE-based AI startup has raised $4 million to revolutionize content dubbing, offering instant translation in over 100 languages. This funding will catalyze its global expansion and technology development. Read More

Revenue Based Financing

Klub's Middle East Expansion: With an AED 1 billion credit fund, Klub introduces flexible financing solutions for SMEs and startups in the UAE, marking a significant milestone for regional financing options. Read More

Proptech Sector

Rize's Rent-Now-Pay-Later Model: Saudi Arabia's Rize secures $2.9 million in Seed funding to expand its innovative rent payment solution across the kingdom, offering flexibility to tenants. Read More

Fintech Innovation

Wayl's Pre-Seed Funding: Iraqi fintech Wayl's recent funding of $150,000 from EQIQ Ventures aims to streamline payments for small merchants and freelancers in Iraq, signaling growth in the country's startup ecosystem. Read More

🔍 Conclusion

The latest investments suggest a growing trend in the UAE's travel tech, dubbing tech, and finance sectors, driven by notable investments in The Digital Hotelier, CAMB.AI, and Klub, respectively. Significant fundraising rounds in Saudi Arabia and Iraq hint toward significant untapped potential within the EdTech, PropTech, and FinTech sectors in these regions. The news of KLAS' pre-seed funding round signals a growing interest in Africa's burgeoning EdTech market. The absence of news about Turkey indicates a comparative slowdown in its entrepreneurial scene this week.

 Global Tech Industry and Startup Trends & News This Week

• Disney acquires a $1.5 billion stake in Epic Games, fueling speculation about a Fortnite metaverse. This major investment suggests potential collaboration for building a virtual world based on the popular game.

• Researchers identify a "battery breakthrough" that could extend the lifespan of electric vehicles. This promising development could improve EV efficiency and range.

• OpenAI and Meta scramble to address emerging risks of AI-generated images posing as real. Efforts focus on preventing misuse and manipulation of deepfake technology.

 Episodes Recap:

On Episode 292:

Join us as we sit down with Jake Moshenko, the dynamic CEO of AuthZed and co-founder of Quay, and chart his impressive journey from Michigan's engineering halls to the cutting edge of tech entrepreneurship. As we dissect his early career at Boeing and subsequent roles at Amazon and Google, Jake gives us an insider's glimpse into the genesis of his groundbreaking projects. The stories of developing Quay, the pioneering private Docker registry, and its evolution through acquisitions by CoreOS, Red Hat, and IBM, are testament to the power of engineering-driven solutions to real-world problems.

On Episode 293:

Unlock the secrets to magnetic presence and powerhouse communication with our Scottish charisma coach, Sebastian Walls, as he demystifies the concept of charisma in the professional landscape. Charisma isn't the exclusive domain of extroverts; it's a craftable skill set that can significantly amplify your influence in business and tech spaces. This episode is a goldmine for anyone seeking to navigate the complexities of building rapport, with our discussion on active listening and the importance of genuinely engaging with your audience moving well beyond the confines of mere small talk.

On Episode 294:

Unlock the secrets of blockchain's transformative power and peer into the future of decentralized AI with Roberto Capodieci, a pioneer in the tech landscape. This episode takes you on a journey through the ever-evolving world of digital uniqueness and asset tokenization, where the usual suspects like cryptocurrencies are just the tip of the iceberg. As Roberto and I dissect the complex cultural challenges and common misconceptions of adopting these technologies, you'll gain a fresh perspective on the cautious, yet optimistic path we must tread as society adjusts to these groundbreaking shifts.

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A Big Thank You 🙏

Your support, feedback, and engagement make this journey worthwhile. Here's to another week of learning, innovation, and growth!

Best, Mehmet