The CTO Show with Mehmet - Week in Review: Feb 4, 2024

February 04, 2024

Welcome to the 52nd edition of "The CTO Show With Mehmet" Weekly Recap Newsletter! If you're new here, I extend a warm welcome to you, joining our dynamic community of 1639 subscribers across LinkedIn and Substack. 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.

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What is inside?

-      Weekly Startup Insights From Middle East, Türkiye & Africa

-      Global Tech Industry and Startup Trends & News This Week

-      Episodes Recap

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

 🌍 Weekly Startups Insights:

 This edition includes content and data from:

https://disrupt-africa.com/

  • VentureBurn: 

https://ventureburn.com/

  • Bloomberg HT: 

https://www.bloomberght.com/

Investments continue pouring into tech startups across diverse sectors in the MENA region and Africa. Saudi Arabia, Egypt, South Africa, Senegal, and Kenya saw significant gains.

 Edtech Sector:

  • iStoria's $1.3 Million Seed Funding: Saudi Arabia-based edtech startup iStoria has raised $1.3 million in a Seed funding round led by Nama Ventures and others. iStoria plans to enhance its platform, which specializes in teaching English, and expand its global reach. Read More

AI and Logistics Sector:

  • Roboost's $3 Million Investment for MENA Expansion: Egyptian AI-powered logistics startup Roboost secured $3 million for expanding its MENA operations. The funding, led by Silicon Badia, will bolster Roboost's automation of delivery management. Read More

Developer Hiring Marketplace:

  • OfferZen's $4.3 Million Funding and Business Model Reform: South Africa's OfferZen raises $4.3 million from Invenfin and AI Capital, introducing a fixed-fee unlimited hiring subscription and appointing Matt Beck as the new CEO. Read More

Retail Tech:

  • ProXalys's $500K for Digital Transformation: Senegalese startup ProXalys, focusing on digital transformation for B2B commerce, raised $500,000 led by 216 Capital. Funds will accelerate the go-to-market strategy for ProBoutik. Read More

Venture Capital:

  • DeBa Ventures' New $30 Million Fintech Fund: Founded by Barbaros Özbugutu, DeBa Ventures announces a $30 million fund for early-stage fintech and B2B tech startups, managed by Günce Önür. Read More

Car Rental Platform:

  • Ejaro's $3.28 Million Pre-Series A Round: Saudi P2P car rental platform Ejaro raised $3.28 million for development and expansion in the MENA region, enhancing its car sharing and insurance services. Read More

Agritech Sector:

  • Apollo Agriculture's $10 Million Debt Funding: Kenyan startup Apollo Agriculture secured $10 million in debt funding to support small-scale farmers in Kenya, aiming to increase income and adapt to climate change. Read More

Turkish Startup Investments:

  • Turkish Startups Receive $900 Million in 2023: Despite a decrease from 2022, Turkish startups secured $900 million, with AI and gaming startups gaining significant attention. Read More

Support for Iraqi Startups:

  • Scale Iraq Initiative: IFC, IVP, and Innovest Middle East launched Scale Iraq to support 20 Iraqi startups under the broader Scale Mashreq program, backed by the Government of the Netherlands. Read More

Acquisition in Construction Tech:

  • Plant & Equipment Acquires Global Equipment Trading: UAE-based Plant & Equipment expands its online auction and advertising platform for construction equipment through this strategic acquisition. Read More

Climate Tech Funding:

  • Africa's Climate Tech Startups Secure $1 Billion: Representing one-third of the continent's total startup funding, climate tech startups in Africa demonstrate resilience and growth in green investments. Read More

Logistics Sector:

  • Bosta's Additional Investment from Avanz Capital: Egypt-based Bosta, specializing in delivery services, received an undisclosed investment from Avanz Capital Egypt, following its earlier investment from Axian Group. Read More

🔍 Conclusion

The MENA region and Africa continue to be favorable grounds for tech startups, with investments across diverse sectors signifying robust growth and innovation potential. The shift towards AI in logistics and focus on climate tech startups shows an inclination towards sustainable and tech-driven solutions. However, investor caution in Turkey indicates a need for startups to demonstrate more solid growth potential and strategic plans for attracting funds.

Global Tech Industry and Startup Trends & News This Week

  • Apple's Vision Pro: Apple launched its much-anticipated "infinite desktop" AR/VR headset, the Vision Pro, generating discussions about its capabilities and price point. (Source: TechCrunch)

  • Space startups: A secretive moon startup led by former Blue Origin executives raised new funding, attracting attention in the growing space exploration industry. (Source: TechCrunch)

  • E-motorcycle woes: Boutique e-motorcycle company Cake filed for bankruptcy, raising concerns about the viability of smaller players in the electric vehicle market. (Source: TechCrunch)

Episodes Recap:

Unlock the secrets to thriving as a small or medium-sized business in today's tech-driven landscape, as Astute®️ CEO, Nicholas Lorizio, reveals how SMBs can punch above their weight. Battling against industry titans may seem daunting, but with Nick's visionary take on service models, inspired by the likes of DoorDash and Grubhub, these businesses can streamline their operations through standardization and robust cybersecurity measures. Delving into our enlightening discussion, you'll grasp the misconceptions many business owners hold about AI and digital transformation, and why embracing these advancements is not just beneficial, but essential.

Unlock the potential of your small business with the invaluable insights from Pete Romano , a trailblazer transitioning from the beats of music production to the rhythms of software development. Our discussion with Pete offers a unique convergence of experience and passion, where the melodies of process and mindset meet the harmonies of marketing and operations. His story reveals a tenacious quest to fill the void in CRM solutions, giving rise to a platform that not only challenges the status quo but champions the digital empowerment of small and medium enterprises.

When Katherine Lewis decided to trade her lesson plans for lines of code, she wasn't just shifting careers; she was redefining what it means to pursue a dream. On our latest podcast, the former teacher and current software engineer at LinkedIn shares the intricate tapestry of her journey, weaving through the challenges she faced while grasping the nuances of front-end development and the paramount importance of user experience. Her unwavering commitment to making technology accessible is a beacon of inspiration, as she talks about her advocacy for universal design and her embrace of the empowering term "people of determination."

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A Big Thank You 🙏

Your support, feedback, and engagement make this journey worthwhile. Here's to another week of learning, innovation, and growth!

Best, Mehmet