MEA Tech & Startup Digest: Issue #98

Welcome to the 98th edition of β€œThe CTO Show’s MEA Tech & Startup Digest”! πŸŽ‰

 

This week's digest brings exciting developments across fintech, edtech, and AI sectors, with major funding rounds, strategic expansions, and innovative launches shaping the MENA tech landscape. From sovereign wealth funds backing AI initiatives to record-breaking VC performances, December continues to showcase the region's dynamic entrepreneurial spirit.

 

Whether you're one of our 2,257 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!

 

🌟 Feature Stories: Major Moves

β€’ Major Investment Rounds

  • UAE's CredibleX secures $55M seed funding for SME financing revolution πŸ”— Read More

  • African fintech Tyme Group raises $250M Series D at $1.5B valuation πŸ”— Read More

  • Anghami receives $55M strategic investment from OSN Group πŸ”— Read More

β€’ Strategic Fund Launches

  • Kazakhstan announces $1B Qazaqstan Venture Group initiative πŸ”— Read More

  • The Hashgraph Group secures ADGM license for $100M Web3 fund πŸ”— Read More

  • Saudi Venture Capital partners with MEVP for tech startup fund πŸ”— Read More

πŸ’° Notable Funding Rounds

β€’ Series A & Growth

  • UAE's Klickl raises $25M Series A at $125M valuation for Web3 banking πŸ”— Read More

  • UAE's Revibe secures $7M Series A for refurbished electronics marketplace πŸ”— Read More

  • Saudi's OmniOps raises $8M for AI infrastructure development πŸ”— Read More

β€’ Early Stage & Seed

  • Jordan's InvoiceQ closes $1.2M pre-Series A for GCC expansion πŸ”— Read More

  • Bahrain's Unipal secures pre-Series A funding for student benefits platform πŸ”— Read More

  • Turkey's Get Twin receives $120K from Grifon Capital for PropTech innovation πŸ”— Read More

🌍 Ecosystem Developments

β€’ Strategic Investments

  • Oman Investment Authority invests in Elon Musk's xAI πŸ”— Read More

  • Emirates NBD's Deniz Ventures backs TeamSec's AI-driven securitization platform πŸ”— Read More

  • Netherlands commits $2.7M to Iraqi entrepreneurs through IVP πŸ”— Read More

πŸš€ Market Expansions & Launches

β€’ New Market Entries

  • India's 100Unicorns enters MENA via ADGM office, targeting $200M fund πŸ”— Read More

  • Halo AI launches AI-powered creator platform in Saudi Arabia πŸ”— Read More

πŸ† Success Stories

β€’ Regional Achievements

  • Turkey's 212 VC achieves 4x returns, leads market with €150M AUM πŸ”— Read More

πŸ“Š Market Intelligence: Pakistan Startup Ecosystem

Latest ecosystem report reveals:

  • Investment decline: From $355M (2022) to $37M (2024)

  • Demographic advantage: 65% of 241.5M population under 30

  • Key exit: SadaPay's acquisition by Papara (~$2B)

  • Challenges: 47% lack internet access, gender funding gap at 81.25%

  • Opportunity: Digital economy potential of Rs9.7T by 2030 πŸ”— Read More

 

 

 

πŸŽ™οΈEpisodes Recap:

 

 

In this episode of The CTO Show with Mehmet, we dive into the evolution of Flowwow, a global gifting marketplace, with COO Vera Modenova. Vera shares her inspiring journey, starting as a student in a five-person startup to scaling Flowwow across 30+ countries. We explore how Flowwow leverages AI, adapts to a mobile-first market, and empowers local sellers while navigating cultural diversity in the MENA region. If you’re curious about e-commerce, leadership, and market expansion, this episode is packed with actionable insights.

 

 

 

In this episode of The CTO Show with Mehmet, we’re joined by Will Blackburn, co-founder of DevClarity, to explore how AI is transforming the management of developer teams. From his journey as a first-time CTO to building tools specifically for engineering leaders, Will shares invaluable insights into leveraging AI for productivity, managing software teams effectively, and navigating the future of development leadership.

 

 

πŸ”— Useful Resouces: 

- iAccel Gulf Accelerator: iAccel Gulf Business Incubator (β€œiAccel 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.

 

 

Connect & Grow with Us

  • Share Your Story πŸŽ™οΈ: Got insights in tech, startups, or entrepreneurship? Reach out and let's feature your journey on "The CTO Show With Mehmet."

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  • Spread the Word 🌟: Know a tech & startup enthusiast? Invite them to our community for weekly doses of innovation and insight.

 

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

 

Best, Mehmet