MEA Tech & Startup Digest: Issue #98

Welcome to the 98th edition of “The CTO Show’s MEA Tech & Startup Digest”! 🎉

 

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

• Major Investment Rounds

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

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

  • Anghami receives $55M strategic investment from OSN Group 🔗 Read More

• Strategic Fund Launches

  • Kazakhstan announces $1B Qazaqstan Venture Group initiative 🔗 Read More

  • The Hashgraph Group secures ADGM license for $100M Web3 fund 🔗 Read More

  • Saudi Venture Capital partners with MEVP for tech startup fund 🔗 Read More

💰 Notable Funding Rounds

• Series A & Growth

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

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

  • Saudi's OmniOps raises $8M for AI infrastructure development 🔗 Read More

• Early Stage & Seed

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

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

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

🌍 Ecosystem Developments

• Strategic Investments

  • Oman Investment Authority invests in Elon Musk's xAI 🔗 Read More

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

  • Netherlands commits $2.7M to Iraqi entrepreneurs through IVP 🔗 Read More

🚀 Market Expansions & Launches

• New Market Entries

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

  • Halo AI launches AI-powered creator platform in Saudi Arabia 🔗 Read More

🏆 Success Stories

• Regional Achievements

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

📊 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 🔗 Read More

 

 

 

🎙️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.

 

 

🔗 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.

 

 

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

 

Best, Mehmet