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- MEA Tech & Startup Digest: Issue #119
MEA Tech & Startup Digest: Issue #119
Mehmet Gonullu
May 18, 2025
Welcome to the 119th edition of The CTO Show’s MEA Tech & Startup Digest!
This week brings a strong pulse of momentum across PropTech, AI, venture capital, and deep tech. From Saudi Arabia’s bold AI ambitions to major funding wins in Egypt and Ghana, the region continues to show that it’s not just catching up—it’s shaping the future. We’re seeing infrastructure plays (think OpenAI’s data center in the UAE), new funds fueling the next generation of AI startups, and even moves in construction safety and cultural export. On the global side, AI isn’t slowing down—$500M rounds, next-gen chips, and the rise of “agentic AI” are pointing to one clear trend: intelligent automation is here, and it’s accelerating.
Whether you’re one of our 2,601 subscribers or a first-time reader — grab your coffee and let’s dive into what’s shaping tech and venture this week!
PropTech & ConstructionTech 🏠
Egypt’s Nawy Raises $52M Series A: Nawy, Africa’s largest proptech platform, secured $52M in equity and $23M in debt to expand its real estate ecosystem across MENA, targeting Morocco, Saudi Arabia, and the UAE. The Cairo-based startup aims to enhance transparency and efficiency in property transactions. Read More
Wakecap Closes $28M Investment: Saudi-based Wakecap raised $28M to scale its AI-driven construction solutions, improving project efficiency and safety across the MENA region. The investment will fuel global expansion and tech development. Read More
AI & Deep Tech 🤖
Humain’s Saudi AI Push: Crown Prince Mohammed bin Salman launched Humain, backed by PIF and Amazon AWS, to build advanced AI infrastructure, including data centers and Arabic language models, positioning Saudi Arabia as a global AI hub. The initiative, aligning with Vision 2030, also focuses on health-focused AI solutions. Read More, Read More, Read More
Saudi’s Wyld VC Launches $50M AI Fund: Wyld VC, MENA’s first AI-native VC firm, launched a $50M fund to back early-stage AI startups, fostering connections between MENA and Silicon Valley. The fund aims to drive innovation in AI-driven technologies. Read More
Lakeba Invests $10M in Aqlanx: Australian firm Lakeba invested $10M in Saudi’s AqlanX to localize enterprise AI solutions, enhancing regional AI adoption. The partnership will focus on tailored AI applications for MENA businesses. Read More
Google and STV Boost MENA AI: Google partnered with Saudi’s STV to support AI innovation, combining regional insights with Google’s expertise to develop competitive technologies. Only 1.5% of MENA’s 2024 VC investment went to AI startups, highlighting growth potential. Read More
Prosperity7 Joins TensorWave’s $100M Round: Aramco-backed Prosperity7 Ventures participated in TensorWave ’s $100M funding to advance AI infrastructure, supporting high-performance computing in MENA. The investment underscores Saudi’s growing role in global AI. Read More
OpenAI Plans UAE Data Center: OpenAI is exploring a massive data center in Abu Dhabi, larger than Monaco, to expand its Middle East presence. The project aims to support AI research and deployment in the region. Read More
Health & Wellness 🩺
Energy & Sustainability 🌱
Kofa Closes $8.1M Pre-Series A: Ghana-based Kofa raised $8.1M to expand its battery-swapping network, aiming to enhance energy access in urban Africa. The startup focuses on sustainable mobility and clean energy solutions. Read More
Venture Capital & Funding 💰
Saudi VC Market to Reach $1.8B by 2030: Saudi Arabia’s venture capital market is projected to grow to $1.8B by 2030, driven by government support and private investments. The Kingdom is emerging as a regional hub for startup funding. Read More
Swedfund Invests $15M in AGIF II: Swedfund International committed $15M to the African Growth Impact Fund II to support SMEs and job creation across Africa. The fund targets sustainable businesses to drive ekonomik growth. Read More
VC Funding Declines for Female-Led MENA Startups: Venture capital for female-led startups in MENA dropped in 2024, despite overall startup investment growth. The report calls for targeted initiatives to close the gender funding gap. Read More
Türkiye Startup Investments Rise: Startup investments in Türkiye increased in 2024, driven by fintech and AI sectors, positioning the country as a growing tech hub in the MEA region. Read More
Entertainment & Media 🎥
Afreximbank Launches $1B Africa Film Fund: Afreximbank and FEDA initiated a $1B fund to support Africa’s film industry, aiming to boost production and global distribution. The fund will empower creatives and enhance cultural exports. Read More
Africa-Focused Startups 🌍
Aura Raises €13.5M Series B: South Africa-born Aura raised €13.5M to expand its emergency response platform, leveraging AI for faster crisis management in Africa and beyond. The funding will enhance tech and market presence. Read More
Global Startups 🌐
Arda Biomaterials Raises $5.25M: UK-based Arda Biomaterials secured $5.25M to develop sustainable materials, focusing on eco-friendly alternatives for global industries. The funding will support R&D and market expansion. Read More
Co-One Raises €1M in Pre-Series A: Estonia-based Co-One raised €1M for its AI-driven platform, aiming to optimize business processes with automation. The funding will support product development and European expansion. Read More
🌍 Global Movers
🔮 AI Dominates the Week:
Google DeepMind unveils AlphaEvolve, a general-purpose science AI advancing math, computing, and TPU design.
📚 China restricts AI in classrooms, while the US debates ethical AI use.
🔧 AI is driving product, education, and policy—fast.
📰 Source: ACM TechNews
💸 VC Frenzy in AI & Biotech:
· 🤖 Perplexity AI raises $500M, hits $4B valuation – eyes on IPO.
· ☁️ CAST AI secures $108M to slash enterprise cloud costs.
· 🧬 Azafaros nets $147M to fight rare neurological diseases.
· ✈️ Quantum Systems raises ~$173M for AI drones in defense/logistics.
· 🧪 Niche AI players like Sennos, Ceto, and ReportAid also close solid rounds.
📰 Source: Crescendo.AI, Fierce Biotech
⚠️ Cybersecurity Heats Up:
· 🧠 Princeton exploits LLMs using “false memory” prompt injection to steal crypto.
· 💻 ETH Zurich finds Intel CPU flaws enabling unauthorized data access—major for cloud.
· 🇪🇸 Spain investigates power grid cyber vulnerabilities after blackout.
📰 Source: ACM TechNews
🚀 Hardware & Space Tech in Motion:
· 🇨🇳 China’s Laser Starcom hits 400 Gbps inter-satellite laser link milestone.
· 🚀 SpaceX launches 1,000th Starlink satellite of 2025, boosting global coverage.
🛰️ Source: Spaceflight Now
🧠 Next-Gen Research & Robotics:
· 🧲 Bismuth identified as a top quantum computing material.
· 🤖 Student-built robot breaks world record solving 4x4 Rubik’s Cube.
📰 Source: ScienceDaily
🎙️Episodes Recap:
In this episode, I sit down with V. Frank Sondors 🥓 , founder of Salesforge 🔥 , to explore how AI is reshaping outbound sales, why traditional sales hiring models are broken, and how modular tools are empowering leaner, more efficient GTM motions. Frank shares his journey from Google to launching a multi-product startup that hit $3M ARR in just 12 months—without burning VC cash.
What happens when a developer in Dubai decides to solve his own problem—and ends up building a 300M SKU e-commerce engine? In this episode, I speak with Rahul Swaminathan , the founder of desertcart , one of the region’s most iconic tech-native e-commerce platforms.
In this episode of The CTO Show with Mehmet , we dive into the intersection of technology, creativity, and brand authenticity with Mona Bavar — founder of DLISH and BlueApples.ai . From a childhood shaped by cultural resilience to building borderless brands rooted in storytelling, Mona shares why the future of innovation needs more than algorithms — it needs soul.
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Best, Mehmet