- The CTO Show's MEA Tech & Startup Digest
- Posts
- MEA Tech & Startup Digest: Issue #117
MEA Tech & Startup Digest: Issue #117
Mehmet Gonullu
May 04, 2025
Welcome to the 117th edition of “The CTO Show’s MEA Tech & Startup Digest”!
This week’s roundup offers a sharp lens into the momentum shaping early-stage investing across MENA and global markets. From mega rounds in Saudi Arabia to meaningful signals in frontier markets like Iraq, Ghana, and Morocco, capital is flowing toward scalable, tech-enabled infrastructure. We’re also tracking strategic moves from global giants—IBM, Meta, and Palo Alto Networks—as AI and macro shifts continue to reshape the venture landscape.
Whether you’re one of our 2,560 subscribers or a first-time reader — grab your coffee and let’s dive into what’s shaping tech and venture this week!
Upcoming Live Session: AI-Powered Entrepreneurship
Excited to invite you to a special session where we explore how modern founders are blending clarity, automation, and strategic execution to build scalable, fundable ventures.
📅 Date: May 8, 2025
🕖 Time: 8:00 AM PST / 11:00 AM EST / 5:00 PM CEST / 7:00 PM GST
📍 Live on StreamYard, LinkedIn, and YouTube
🎥 Replay Available
🔵 Featuring:
Bart 🙏🏻 Jenezon – Co-Creator of #1nspiring & CastomAI
Mehmet Gonullu – Founder of Yassi Ventures & Host of The CTO Show Podcast
👉 Reserve your spot here
Funding Rounds 💰
iMENA Group Raises $135M Pre-IPO: Saudi-based iMENA Group secured $135 million to bolster its digital platforms like OpenSooq and Jeeny, aiming for a Saudi Exchange IPO. Read More
Techrar Secures $1.6M for Billing Platform: Saudi startup Techrar raised $1.6 million led by Wa’ed Ventures to expand its AI-driven subscription management solutions across the GCC. Read More
Zest Equity Raises $4.3M Pre-Series A: UAE’s Zest Equity closed a $4.3 million round to enhance its private market infrastructure, targeting emerging economies. Read More
OmniRetail Nets $20M for West Africa Expansion: Nigeria-based OmniRetail raised $20 million in Series A to scale its B2B e-commerce and logistics network in Nigeria, Ghana, and Ivory Coast. Read More
Hushday Raises $550K Pre-Seed: UAE’s premium e-commerce platform Hushday secured $550,000 to fuel its growth in the luxury online retail space. Read More
True Gamers Secures $5M for Expansion: UAE esports startup True Gamers raised $5 million to expand its gaming hubs and enhance its regional presence. Read More
IQ Cars Raises 7-Figure Seed Round: Iraq’s automotive marketplace IQ Cars secured a significant seed round to streamline car buying and selling in the region. Read More
i3 Awards $1.5M to African Healthtech: Seven African healthtech startups received $1.5 million from the i3 program to innovate healthcare solutions across the continent. Read More
Erad Secures $16M for SME Financing: Saudi fintech Erad raised $16 million in a pre-Series A bridge round to address the SME credit gap in MENA. Read More
BloomPath Raises $1.3M Pre-Seed: US-based SaaS startup BloomPath, backed by Wamda Capital, secured $1.3 million to enhance its workflow analytics platform. Read More
Tuba Launches with $8M Investment: Saudi healthtech startup Tuba raised $8 million in pre-seed funding to improve healthcare management using AI. Read More
Fuze Closes $12.2M Series A: UAE’s Fuze secured $12.2 million to power its digital asset infrastructure, targeting growth in the MENA financial sector. Read More
MYDAWA Secures Undisclosed Funding: Kenyan e-health startup MYDAWA raised an undisclosed round to expand its digital healthcare services across East Africa. Read More
Kofa Secures $8.1M for Energy Solutions: Ghana’s Kofa raised $8.1 million to scale its sustainable energy solutions, focusing on battery swapping for electric vehicles. Read More
Darrbak Secures Pre-Seed Funding: Oman’s Darrbak raised pre-seed funding from Future Fund to develop its tech-driven logistics platform. Read More
Dream Games Hits $5B Valuation: Turkey’s Dream Games raised a round valuing it at $5 billion, solidifying its position in the global mobile gaming market. Read More
Revo Capital Secures $86M for Turkish Startups: Turkey’s Revo Capital raised $86 million for its third fund to support early-stage tech startups in Turkey and Eastern Europe. Read More
STV Launches $100M Fund for Saudi Startups: Saudi VC firm STV introduced a $100 million fund to back tech startups, aligning with Vision 2030 goals. Read More
Accelerators & Platforms 🚀
Saudi Platform Connects Startups and Investors: A new Saudi platform launched to bridge startups with investors, fostering innovation and funding opportunities. Read More
Flat6Labs & Tamwilcom Launch Moroccan Accelerator: Flat6Labs partnered with Tamwilcom to launch an accelerator program to boost Morocco’s tech startup ecosystem. Read More
Akbank and Arya Support Tech Entrepreneurs: Akbank and Arya Yatırım Platformu launched a program to provide financial and mentorship support to Turkish tech startups. Read More
Mergers & Partnerships 🤝
Miran and Welnes Merge for Health App: UAE-based Miran and Welnes merged to create a comprehensive health and fitness app, targeting regional wellness markets. Read More
Chari Partners with Visa for Digital Payments: Morocco’s Chari collaborated with Visa to expand digital payment solutions for its B2B e-commerce platform. Read More
New Ventures & Expansions 🌱
Boxcommerce Debuts in UAE for SME Trade: UAE’s Boxcommerce launched to drive digital trade growth for SMEs, targeting rapid expansion in the e-commerce sector. Read More
Investment Funds 💡
Aruwa Capital Launches Second Fund: Nigeria’s Aruwa Capital Management closed its second fund to invest in gender-diverse SMEs across West Africa. Read More
Jobs Fund Boosts Green Economy: South Africa’s National Treasury Jobs Fund allocated new funding to support green and informal economies, fostering job creation. Read More
Market Insights 📊
Kenya and South Africa as PE Safe Zones: Kenya and South Africa emerged as stable hubs for private equity investments amid global trade disruptions. Read More
🌍 Global Movers
🧠 AI Takes the Throne (Again)
· Meta launched its standalone Meta AI app powered by Llama 4 📱, pushing deeper into personalized, voice-first generative AI.
· IBM pledged a jaw-dropping $150B U.S. investment over 5 years 🏭, signaling a strategic hedge amid tariff tensions and AI ambitions.
· Palo Alto Networks aims to acquire Protect AI to strengthen cybersecurity in the AI pipeline 🛡️.
📉 Macro Headwinds & Tariff Volatility
· US markets rallied by week’s end 📈 after early shocks from new tariff announcements.
· Nasdaq soared 6%, rebounding from investor “extreme fear” levels 😱.
· WTO warned that global trade could shrink by up to 1.5% in 2025 if tensions worsen 🚢.
🛠️ Strategic M&A Moves
· Sabre sold its Hospitality Solutions unit to TPG for $1.1B to reduce debt and refocus ✈️.
· Intuit acquired Deserve (fintech) and Sapiens bought AdvantageGo (insurtech) — both boosting platform strategy and sector depth 💸.
📊 Venture Capital Currents
· Cast AI raised $108M Series C 💻 (Kubernetes & AI cost optimization).
· Persona secured $200M for ID verification 🪪 — a response to rising AI-driven fraud.
· Notable rounds also in 🇬🇧UK (Arondite, AMPLY), 🇩🇪Germany (Solda.AI), 🇮🇳India (Metafin, Kult, QNu Labs), and 🇸🇬Singapore (Cocoon Capital’s new deep tech fund).
🚀 Tech & Infrastructure Leaps
· Amazon’s Project Kuiper satellites launched via ULA 🛰️, competing with Starlink.
· NEC set a 10km optical wireless data transmission record in Japan — huge for future comms 🔦.
· Wix, Baidu, and LG also rolled out AI-enhanced products ranging from content personalization to multi-display vehicle systems 🚗.
🧾 Regulation Heats Up
· Apple & Meta fined under EU’s DMA (€500M & €200M respectively) 💶.
· US DOJ could force Google to sell Chrome 😲 as part of antitrust action.
· SEC signals softer stance on crypto 🪙; Affirm to report BNPL loans to credit bureaus starting May.
📰 Source: Compiled from AP News, Crunchbase, PitchBook, Tech.eu, and more
🎙️Episodes Recap:
In this inspiring episode of The CTO Show with Mehmet, I sit down with Ahmed Mahmoud (Founder & CEO) and Ahmed Elshahawy (CTO) of DXwand, a MENA-born AI startup reshaping how businesses unlock growth with generative AI, knowledge mining, and document intelligence.
In this episode, I’m joined by two tech veterans, Garrett Rice (former Apple) and Philippe Cailloux (former Head of Product Design at Adobe), co-founders of Callings.ai—a platform that’s rethinking how we search for jobs in the AI era. We dive into how the traditional job-hunting process is broken, what’s wrong with the resume as we know it, and how AI can help job seekers know themselves better, stand out, and land more meaningful work.
In this bold and thought-provoking episode of The CTO Show with Mehmet, UK-based serial entrepreneur and investor Steve Endacott joins the show to discuss the intersection of AI, entrepreneurship, and legacy. From backing disruptive startups to launching Neural Voice, a conversational AI platform for the travel industry, and Life’s Echo, a digital legacy tool that lets people speak at their own funerals—Steve is turning ambitious ideas into impactful ventures.
Connect & Grow with Us
Share Your Story 🎙️: Got insights in tech, startups, or entrepreneurship? Reach out and let's feature your journey on "The CTO Show With Mehmet."
Support & Collaborate ❤️🤝: Love our content? Support us here and keep the insights coming.
Spread the Word 🌟: Know a tech & startup enthusiast? Invite them to our community for weekly doses of innovation and insight.
Thank You 🙏: Your engagement drives our shared journey forward. Here's to another week of innovation and growth!
Best, Mehmet