The CTO Show Brief: Issue 120

Author

Mehmet Gonullu
May 25, 2025

Welcome to the 120th  edition of The CTO Show Brief!

From record-breaking rounds in Egypt to AI infrastructure deals in the UAE, the MEA startup scene continues to build momentum—driven by fintech innovation, cross-border acquisitions, and bold government-led initiatives. Meanwhile, on the global front, AI remains the driving force behind tech advancement and VC appetite, with edge computing and specialized early-stage funds gaining traction.

In this edition, we unpack the stories shaping tomorrow’s innovation corridors—from MENA to the Valley and beyond.

Whether you’re one of our 2,612 subscribers or a first-time reader—grab your coffee, and let’s dive into what’s shaping tech and venture this week!

 

MEA Tech Momentum

Fintech 💰

  • Thndr Raises $15.7M for Expansion: Egyptian investment platform Thndr secured $15.7 million in a Series A round to enhance its mobile-based stock, bond, and fund investment offerings, targeting regional growth. Read More

  • ElGameya Secures Funding for Savings App: Egyptian fintech ElGameya raised a seven-figure round led by AYADY to scale its customizable savings circles, focusing on financial inclusion for underserved communities. Read More

  • Nedbank Backs SwiftVee’s Pryswys: South African fintech SwiftVee’s Pryswys, which brings digital financial solutions to agriculture, received funding from Nedbank to expand its farm-gate fintech services. Read More

  • Carta Gains ADGM Financial Permission: Carta received approval from ADGM’s FSRA, enabling it to expand venture capital and private equity services in the MENA region. Read More

  • Banque Misr Supports Nclude Fund: Banque Misr invested in the Nclude Innovation Fund to bolster Egypt’s fintech ecosystem, supporting startups with innovative financial solutions. Read More

  • Kuwait’s Circle Raises $6M: Kuwait-based fintech Circle closed a $6 million Series A to expand its digital payment and financial services platform across the region. Read More

E-Commerce & Retail 🛒

  • MaxAB-Wasoko Acquires Fatura: MaxAB-Wasoko acquired Egypt-based B2B marketplace Fatura, with EFG Finance gaining a board seat, to enhance product variety and logistics for African retailers. The deal is expected to contribute 25% of MaxAB’s Egypt revenue by year-end. Read More

  • Sylndr Raises $15.7M Series A: Egyptian online car retailer Sylndr secured $15.7 million to scale its platform, connecting buyers and sellers of used vehicles. Read More

  • Ziadah Closes Seed Round: Saudi e-commerce app Ziadah raised seed funding to expand its platform, offering streamlined online shopping solutions in the Kingdom. Read More

Immersive Media & Spacetech 🚀

  • VUZ Raises $12M for Global Expansion: Saudi-based immersive media platform VUZ secured $12 million in a pre-Series C round, led by IFC, to scale its XR, VR, AR, and AI-driven streaming globally. Read More

  • SARsatX Raises $2.6M Seed: Saudi spacetech startup SARsatX secured $2.6 million to develop small satellites with synthetic aperture radar technology. Read More

Enterprise & Connectivity 🌐

  • Wa’ed Ventures Leads $19M in Graphiant: Aramco’s Wa’ed Ventures co-led a $19 million investment in Graphiant, a US-based Network-as-a-Service provider, to enhance secure enterprise connectivity. Read More

  • Viact Raises $7.3M for MENA Expansion: Viact secured $7.3 million to accelerate its enterprise-focused tech solutions across the MENA region. Read More

  • Tarjama Secures $15M Series A: Wamda Capital joined a $15 million round for Tarjama, a platform providing AI-driven translation and localization services for businesses across MENA. Read More

Startup Support & Funding Initiatives 🌱

  • Algeria’s NESDA Launches Funding Schemes: Algeria’s NESDA introduced three startup funding programs, offering up to $75,000 for entrepreneurs, freelancers, and artisans. Read More

  • EQIQ Doubles Fund to $30M: Iraq’s EQIQ doubled its fund to $30 million to accelerate the country’s digital economy and support tech startups. Read More

  • SC Ventures & DIFC Launch Venture Studio: SC Ventures partnered with DIFC Innovation Hub to launch a national venture studio, fostering startup growth in the UAE. Read More

  • Google’s AI Accelerator for MENA & Türkiye: Google launched its second AI accelerator to support startups in MENA and Türkiye, fostering innovation in artificial intelligence. Read More

  • Gulf’s First Woman-Led PE Firm Closes Fund: The Gulf’s first woman-led private equity firm closed its debut fund, aiming to support regional startups. Read More

  • OpenAI Partners for UAE Data Center: OpenAI teamed up with Cisco and Oracle to build a UAE data center, boosting the region’s AI infrastructure for startups. Read More

Regional Ecosystem Insights 📊

  • Lagos Startups Defy Funding Slowdown: Lagos-based startups raised 42% more funding in 2025, bucking a broader African investment slowdown. Read More

  • MENA Funding Gaps Delay IPOs: Funding gaps in MENA risk delaying startups’ IPO ambitions, highlighting the need for more robust investment pipelines. Read More

  • DIFC Targets Global VCs: DIFC Innovation Hub’s CEO emphasized attracting global VCs to bridge late-stage funding gaps for MENA startups. Read More

 

 🌍 Global Tech & VC Pulse

AI: The Undisputed Engine of Growth

Artificial Intelligence is no longer a niche technology but a foundational layer embedded across virtually all sectors. This week saw a proliferation of AI-centric product launches and significant advancements in AI capabilities, from enterprise solutions to consumer devices.

 

The Rise of Edge AI & AI PCs

A strong momentum towards processing AI workloads directly on end-user devices is evident. Key examples include:

  • Acer's Copilot+ PCs with powerful NPUs

  • XREAL's 'Project Aura' XR device with Google Gemini

  • Dell's Pro Max AI PC for on-device inferencing

Venture Capital Dynamics:

Global VC activity saw 130 funding rounds totaling $7.78 billion, a 48% increase in dollar volume from the prior week. The US led with 34 companies securing $5.6 billion. AI, Fintech, and Biotech remained hot sectors.

New & Specialized VC Funds

Investor appetite remains strong for early-stage and thematic opportunities:

  • Wave Ventures: €7M for Gen Z founders (Nordics/Baltics)

  • Rockaway Ventures: €55M for European VC

  • Redpoint Ventures: $650M for early-stage

  • Folks Funds (India): ~$60M ESG fund for EV supply chains

Cybersecurity: Navigating an Expanding Threatscape

The cybersecurity landscape remained highly active, with a significant rise in vulnerabilities across platforms and sophisticated new attack methods emerging. This necessitates a shift towards proactive, data-centric security.

 

 🎙️Episodes Recap:

In this episode of The CTO Show with Mehmet , we dive into the world of deep tech and hardware innovation with Faizan Ahmed  , founder and CEO of Invensify . From solving his father’s insulin storage problem to building a patented solid-state cooling module, Faizan walks us through the journey of reinventing refrigeration and building a product-as-a-service business in a legacy-driven industry.

In this episode of The CTO Show , serial entrepreneur and podcast host Anthony Franco joins Mehmet to unpack how AI is fundamentally reshaping how businesses operate—beyond the hype. With six exits under his belt and decades of experience launching and scaling ventures, Anthony shares what it really takes to operationalize AI in today’s organizations and why the real disruption isn’t about job loss—it’s about organizational survival.

In this episode of The CTO Show with Mehmet , Andy Cwik —co-founder and CEO of Hubub—shares his lessons from three startups, including the painful failures and meaningful wins. From crashing his first startup to exiting a telehealth company, Andy now leads Hubub, a SaaS platform that automates client entertainment for B2B teams.

Let’s Stay Connected

🎙️ Have a unique POV on tech or venture? I’m always looking to feature sharp minds on The CTO Show — founders, operators, investors, or ecosystem builders.

 

🤝 Exploring new markets or strategies? I’m open to conversations around go-to-market, venture insights, and cross-border growth — especially between MEA and global hubs.

 

📩 Enjoyed this brief? Forward it to someone thinking deeply about where innovation, capital, and technology intersect.

 

Thanks for reading — and for being part of this growing, global-minded network.

 

— Mehmet