MEA Tech & Startup Digest: Issue #111

Author

Mehmet Gonullu
March 23, 2025

Welcome to the 111th edition of “The CTO Show’s MEA Tech & Startup Digest”!

The Middle East and Africa (MEA) tech and startup ecosystem is hitting new milestones, with bold investments and innovative breakthroughs redefining the region’s global footprint. This week’s newsletter spotlights a historic $2 billion crypto deal, alongside transformative advancements in fintech, agritech, and more-proof that MEA is a powerhouse of opportunity and ingenuity.

Whether you're one of our 2489 subscribers or new to our community, we're excited to share these valuable insights into tech, startups, and entrepreneurship.

Grab your coffee and let's unpack what's making headlines!

🌟 Featured Story

MGX’s $2 Billion Investment in Binance Marks Historic Backing

UAE’s MGX invested $2 billion in Binance, marking a landmark institutional endorsement of cryptocurrency in the Middle East. This bolsters Binance’s regional presence and signals the UAE’s embrace of blockchain innovation.

💸 Fintech

Flouci Among the 50 Most Influential Fintechs in MENA in 2025

Tunisian fintech startup Flouci earned a spot among MENA’s top 50 fintechs, recognized for its innovative digital payment solutions. This accolade highlights Tunisia’s rising prominence in the regional financial tech landscape.

Fawry Partners with Contact to Broaden BNPL Services in Egypt

Egyptian fintech leader Fawry teamed up with Contact to expand Buy Now, Pay Later (BNPL) offerings, enhancing financial inclusion. The partnership taps into the rising demand for flexible payment options in the region.

UAE’s Nymcard Secures $33M Funding for MENA Financial Innovation

Nymcard, a UAE-based fintech, raised $33 million to drive financial innovation across MENA, focusing on payment solutions. The funding reflects the UAE’s leadership in shaping the future of regional finance.

Cleargrid Unveils USD $10M Funding to Reshape MENA Debt

Cleargrid secured $10 million to overhaul debt management in the MENA region with tech-driven solutions. The funding targets financial inefficiencies, offering new tools for businesses and lenders.

📈 Investment & Funding

Abu Dhabi Sovereign Fund Ramps Up US Investments in AI

The Abu Dhabi Investment Authority (ADIA) is boosting its focus on artificial intelligence, participating in a $200 million seed funding round for U.S.-based AI ventures. This move underscores Abu Dhabi’s strategy to leverage AI for global economic influence.

Yango Group Launches $20 Million Venture Fund

Yango Group, a tech conglomerate with MEA roots, launched a $20 million venture fund to support regional startups. This initiative aims to accelerate innovation and entrepreneurship across the Middle East and Africa.

Oro Labs Secures $1.5 Million Pre-Seed Backed by 468 Capital

Oro Labs, a promising MEA startup, raised $1.5 million in pre-seed funding with support from 468 Capital to advance its tech solutions. The investment signals confidence in early-stage ventures driving regional disruption.

🌾 Agritech & Healthtech

Khula Secures ZAR126 Million in Series A Funding

South African agritech startup Khula raised ZAR126 million in Series A funding to transform the agricultural supply chain with technology. The investment aims to empower farmers and enhance food security in the region.

Grinta Acquires Citi Clinic with Beltone Raed Ventures

Egyptian healthtech startup Grinta acquired Citi Clinic, bolstered by strategic investment from Beltone Raed Ventures. This move strengthens Grinta’s position in Egypt’s healthcare market, blending tech and medical services.

Tunisia’s Juridoctn Raises Investment Round for Africa Expansion

Juridoctn, a Tunisian legal tech startup, secured funding to fuel its expansion across Africa, offering digital legal services. The round underscores the growing role of tech in streamlining professional services continent-wide.

⚡ Energy & Logistics

Mpower Ventures Secures $2.7 Million Funding for Solar Solutions

Mpower Ventures raised $2.7 million to expand its solar energy solutions across Africa, targeting sustainable power access. This funding reflects the increasing demand for renewable energy startups addressing the continent’s infrastructure needs.

Kenyan Logistics Startup Leta Raises $5M Seed Funding Round

Leta, a Kenyan logistics startup, raised $5 million in seed funding to optimize supply chain operations in East Africa. This investment highlights the critical role of logistics tech in supporting Africa’s economic growth.

🎮 Gaming & Analytics

KBW Ventures Leads PlaysOut’s $7 Million Seed Round

UAE-based gametech startup PlaysOut secured $7 million in seed funding led by KBW Ventures, achieving a $70 million valuation. The investment highlights the growing gaming sector in the Middle East and KBW’s role in fostering regional tech innovation.

Ibtikar Fund Invests in Palestine’s MENA Analytics

Palestine’s Ibtikar Fund has backed MENA Analytics, a data and market research firm set to expand across the MENA region. This marks a significant step for Palestinian tech, fostering innovation amidst challenging conditions.

🔍 An Eye On Tech

AI Powers Industrial Automation: The integration of AI into industrial automation is rapidly accelerating. MSI showcased its AI servers and autonomous mobile robots (AMRs) at NVIDIA GTC 2025, highlighting the hardware and software infrastructure for next-gen AI applications in industry . MyBull Intelligent Machinery demonstrated synchronized AMR operations for unmanned cargo handling at ProMAT 2025, featuring impressive 3D mapping capabilities . Onward Robotics also presented its Meet Me® solution for automated order fulfillment at ProMat 2025, aiming to boost warehouse productivity . This trend indicates a significant shift towards AI-driven efficiency in various industrial sectors.

Battery Technology Heats Up: The race for better battery technology continues with exciting developments. Solid-state batteries are gaining momentum, with major automakers like Honda, SAIC, and Nissan investing heavily in their production, citing benefits like increased safety and energy density.. Researchers at UNIST made a crucial discovery regarding quasi-lithium cathode materials, identifying and addressing the cause of oxygen generation during high-voltage charging, which could enable EVs with a 1,000 km range. . Adding to this, CATL unveiled its Shenxing PLUS battery, an LFP battery boasting over 1,000 km range and superfast 4C charging capabilities, delivering 600 km in just 10 minutes.

Securing Wireless Medical Implants: Engineers have developed a new security protocol, magnetoelectric datagram transport layer security (ME-DTLS), specifically designed to protect wireless medical implants from cyber threats. This protocol cleverly uses intentional movements of the external power source to transmit binary values for authentication, adding a physical layer of security. . This is crucial for ensuring the safety and reliability of these life-saving devices.

🎙️Episodes Recap:

In this episode, I sit down with Alex Malkov and Andrey Kuznetsov co-founders of Haqq Network, to explore how Islamic finance and blockchain are merging to create ethical DeFi solutions. Haqq Network aims to bring Sharia-compliant financial products into the Web3 space, addressing fairness, transparency, and financial inclusion. We discuss real-world tokenization, the role of AI in DeFi, and how blockchain can revolutionize Islamic finance for 2 billion Muslims worldwide.

AI is reshaping consumer behavior like never before, creating both opportunities and challenges for businesses. In this episode, I sit down with Shahar Boyayan , an expert in consumer psychology and AI-driven behavior, to discuss how businesses—especially small businesses and entrepreneurs—must adapt to this shift. We explore hyper-personalization, AI-driven marketing, the ethics of AI in business, and how companies can leverage AI without crossing privacy boundaries.

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

Best, Mehmet