MEA Tech & Startup Digest: Issue #78

Author

Mehmet Gonullu
August 04, 2024

Welcome to the 78th 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 1999 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

-      Episodes Recap

-      Useful Resources

 

Let's not wait any longer and dive into this week's rich insights!

 

This Newsletter is Supported by:

 

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🌍 Regional Investment Highlights & Startup Insights:

 Funding Rounds and Investments:

 

            •          Educatly Raises $2.5 Million: Educatly, an Egyptian edtech startup, secured $2.5 million to expand its AI-driven platform across the Middle East and Africa. Read More

            •          Watermelon Raises $4 Million: Watermelon, a UAE-based SME ecosystem platform, raised $4 million in Series A funding to scale operations across the MENA region. Read More

            •          Velents AI Secures Investment: Velents AI, an Egyptian recruitment platform, received funding from Saudi-based Women Spark to expand and develop its AI technology. Read More

            •          Intelmatix Raises $20 Million: Saudi deeptech startup Intelmatix secured $20 million in Series A funding to expand its AI-driven business optimization solutions. Read More

            •          Synapse Analytics Raises $2 Million: Egyptian AI startup Synapse Analytics secured $2 million to enhance its platform and scale operations in the MENA region. Read More

            •          Corrsy Raises $500k: Helsinki-based edtech startup Corrsy raised $500k in pre-seed funding to expand its mobile app for educational challenges in the MENA region. Read More

 

Market Expansions:

 

            •          MNT-Halan Acquires Tam Finans: Egyptian fintech giant MNT-Halan acquired Turkish company Tam Finans, marking its entry into the Turkish market. Read More

            •          Plentify Expands Internationally: South African startup Plentify is expanding its AI-driven smart energy solutions into international markets. Read More

            •          Nat1ve Expands Overseas: African ad-tech startup Nat1ve launched a new platform and is rapidly expanding its operations overseas. Read More

 

Ecosystem Developments:

 

            •          African Startup Funding Decline: African startup funding dropped from $1.8 billion to $780 million in the first half of 2024, reflecting economic challenges. Read More

            •          Turkish Startup Ecosystem Growth: Turkey’s startup ecosystem is growing with increased investments, particularly in fintech, e-commerce, and deeptech sectors. Read More

 

Accelerators and Partnerships:

 

            •          Google for Startups Cohort 8: Google announced 25 African startups selected for its Accelerator Africa program, focusing on tech solutions in various sectors. Read More

            •          Albaraka Garaj Opens for 8th Cohort: Albaraka Türk’s accelerator program is opening its doors for the 8th time, focusing on fintech and tech startups. Read More

            •          Startupbootcamp Partners with Meta: Startupbootcamp partnered with Meta to support MENA startups in fintech, healthtech, and sustainability through mentorship and resources. Read More

            •          HAVAÍC’s Pan-African Fund: South African VC firm HAVAÍC announced the first close of its third pan-African fund, targeting tech startups across Africa. Read More

 

🎙️Episodes Recap:

 

 

In this episode of “The CTO Show with Mehmet,” we are joined by Benjamin Bohman , CTO and founder of Stratashield AI. With a rich background in technology spanning 25 years, Ben shares his unique journey from starting as an IT department head at 22 to founding his own AI company. He emphasizes that you don’t need to be a techie to succeed in technology, recounting his initial experience of not even owning a computer before diving into the tech world.

 

 In this episode of “The CTO Show with Mehmet,” Mehmet Gonullu is joined by Andrew Sykes , a lifelong entrepreneur, professor at the Kellogg Sales Institute, and lead facilitator at Serene Life. Andrew shares his journey from South Africa to the United States, where he now calls Chicago home. With a rich portfolio career, Andrew discusses the diverse hats he wears—from founding “Habits at Work,” a company focused on helping leaders and salespeople develop magnetic habits, to teaching the fine art of entrepreneurial selling at one of the world’s top business schools.

 

 In this episode of The CTO Show with Mehmet, we are joined by John Horn , the CEO of StubGroup, a leading digital advertising agency. John shares his extensive experience in helping businesses navigate the complex world of digital advertising, with a particular focus on SaaS companies. We dive deep into the challenges SaaS companies face in a crowded marketplace and explore how they can effectively align their go-to-market strategies with digital marketing, especially through platforms like Google Ads.

 

🔗 Useful Resouces: 

-      iAccel Gulf Accelerator: iAccel Gulf Business Incubator (“iAccel GBI”) is a Global Accelerator Network (GAN) certified accelerator that aims to help early-stage tech startups turn their innovative ideas into successful businesses in MENA Region.

-      VC Lab Cohort 16 Applications are now open: VC Lab is the leading venture capital accelerator for new and emerging managers worldwide. The 14-week program provides guidance, structure and a network to complete a fund closing in 6 months or less. Over the last couple of years, roughly half of all successful VC firms launched with VC Lab.

 

 

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

 

Best, Mehmet