The CTO Show with Mehmet - Week in Review: Nov 5, 2023

November 05, 2023

Welcome to the 39th edition of "The CTO Show With Mehmet" Weekly Recap Newsletter! If you're new here, a warm welcome to our dynamic community of 1477 subscribers across LinkedIn and Substack. Whether you're here for the first time or a loyal follower, your engagement is the lifeblood of this unique platform dedicated to tech, startups, and entrepreneurship.

What is inside?

-      Weekly Startup Insights From Middle East, Türkiye & Africa

-      Startup Investments Opportunities Spotlight

-      Recommended Resources and Tools

-      Episodes Recap

Without further ado, let's dive into this week's multifaceted insights

Weekly Startups Insights:

🌟 Funding Highlights

  • Africa's Fintech Expansion: The continent is set for a fintech explosion, with a projected market growth to $150 billion by 2030, catalyzed by the unbanked population and digital advancements.

  • UAE's Social Connectivity: Belong, the social app, bolsters its community with a $1.5 million pre-Series A funding, aiming to deepen social ties in the digital age.

  • Insurance Accessibility: Democrance's undisclosed funding from Wa'ed Ventures marks a step towards inclusive insurance in Saudi Arabia.

  • Electric Mobility Innovation: Neo Mobility gears up with a $10 million seed funding for its electric vehicle ambitions in the UAE.

  • Proptech Advancements: Keyper secures a $6.5 million seed round, while Nomad Homes lands a $20 million Series A, both enhancing the UAE's real estate tech sector.

  • AI and NLP Tech: Turkey's Novus infuses AI into digital banking with a $500,000 investment from Inveo Ventures.

  • Edtech and Healthtech: Egyptian startups OBM Education and Almouneer raise six-figure and $2.2 million seed funding, respectively, to transform education and health services.

  • SME Support: Saudi Venture Capital Company injects $10 million into RUYA-II, fostering SME growth in Saudi Arabia.

  • Proptech in Saudi: Ejari's $1 million pre-seed round aims to innovate the real estate sector.

  • Legal Tech Revolution: South Africa's Contract Understanding launches with an AI-driven contract management platform.

  • Fintech Remittances: Tunisia's Easy Transfer enhances remittance services with a $423,000 investment.

  • Women-Led Ventures: Kenyan women-led startups receive KSH 9.8 million from Standard Chartered Bank, fostering diversity in innovation.

  • Climate Tech Investments: Saudi Arabian climate tech startups secure $68 million, signaling a green future.

  • Startup Ecosystem Growth: MENA startups face a $20 billion funding gap, while Turkish startups enjoy a $1.6 billion investment influx.

  • Matchmaking and Planning: Nigeria's Tramatch introduces a marriage matchmaking app, expanding the social tech space.

  • Fintech Services: NOW Money's new funding round in the UAE and ORA Technologies' $1 million pre-seed funding in Morocco boost the fintech sector.

  • E-commerce SaaS: Egyptian Awfar's funding from VMS empowers small businesses with e-commerce tools.

  • Cybersecurity Defense: UAE's SpiderSilk secures $9 million to fortify digital infrastructures.

  • Agricultural Commodities: Nigeria's AFEX garners $26.5 million to revolutionize commodity trading.

  • Insurtech Solutions: South Africa's Inclusivity Solutions raises $1.5 million, extending its reach in digital insurance.

  • Venture Capital Fund: DIEZ's $136 million fund, Oraseya Capital, is set to catalyze fintech startups in Dubai.

🚀 Sector Spotlights

  • Fintech: Dominating with significant investments across Africa and the MENA region.

  • Proptech: Gaining momentum with substantial funding rounds in the UAE and Saudi Arabia.

  • Edtech & Healthtech: Advancing with strategic investments in Egypt.

  • AI & Deep Tech: Making strides with Turkish Novus's recent funding.

🔍 In-Depth Insights

The fintech sector is witnessing explosive growth both in Africa and Turkey. In the MENA region, startups across verticals such as social app, insurtech, EV manufacturing, and proptech are securing sizable funding rounds for expansion and development. From a regional perspective, government policies and initiatives are playing a significant role in promoting the startup ecosystem. However, there is a pronounced $20 billion funding gap in the MENA region. It is noteworthy that female-led startups are receiving increased attention and funding, championing diversity in the entrepreneurial landscape. The role of AI and digitization is also becoming more pronounced across various sectors from fintech to ed-tech, indicating a strong digital transformation trend in these regions.

🔗 Sources

  • VentureBurn

  • Wamda

  • Webrazzi

  • Disrupt Africa

  • Arab News

  • Business Day

  • Hurriyet Daily News

  • TechTrends KE

  • Bogaz Gazetesi

 Startup Investments Opportunities Spotlight

 Starting Next week, we will have the startups in a database for better screening by investors, stay tuned.

I'm currently collaborating with several startups that are actively seeking investment. If any of these opportunities align with your investment goals, don't hesitate to reach out for more details.

Startup founders! Would love to connect with you to help secure fundings.

  • A SaaS (Finance and Accounting) startup seeking angel investors or VC for Pre-Seed Stage. Great traction and strong growth metrics.

  • XR/VR/Edtech startup in Seed stage looking for angel investors to expand their product profile. Promising initial results after MVP

  • Pre Series A-Stage Tech startup open to investors interested in tech . Big customers references acquired.

  • EdTech startup with pre-revenue and solid business model.

  • A Gaming Studio with traction and multiple products is raising funds for expansion in GCC region.

  • EdTech focusing on kids’ early learning with revenue is looking for a seed fund to take the product to the next level

  • An E-Commerce & LogisticsTech startup with traction looking for a seed fund to expand operations.

Recommended Resources and Tools (Please note: Some of the resources linked in this section are affiliated links):

Softr: Enhance your business or build your MVP with Softr, the seamless platform for building applications without coding. Ideal for startups and SMEs, Explore this awesome platform and get in touch for assistance. 

Make(Formerly Know As Integromat) Streamline your workflow with Make a leading automation platform that connects your apps and services effortlessly. Startups and SMEs, start by your own today or get in touch for a consultation

Podpage: Join over 25,000 podcasters and automatically create a beautiful, listener-friendly podcast site from your RSS feed. Customize the design to create a professional look you'll be proud of in a few clicks. No coding or technical knowledge necessary.

Apollo: Unlock a world of endless leads with Apollo.io! This powerful platform not only provides a treasure trove of business contacts but also equips you with intuitive tools to engage prospects effectively. Say goodbye to the tedious lead generation process and hello to a seamless sales journey. Ready to skyrocket your sales?

 Episodes Recap:

 Ever thought about the sheer power of persuasive writing and its potential to inspire action? Well, wonder no more! We had the pleasure of sitting down with Joshua Lisec, The Ghostwriter , a seasoned ghostwriter who has spun linguistic magic into over 80 books across his remarkable 12-year career. Joshua shared some invaluable gems about the art of persuasion, warning against manipulative language and discussing the pitfalls of 'anti-persuasive' writing.

 Prepare to redefine your approach to health as a tech professional or startup founder. We promise you an enlightening conversation with Christian Yordanov , a certified functional diagnostic nutrition practitioner, who highlights the health challenges often ignored in the tech world. Christian's expertise uncovers the hazards of sitting for extended periods, overworking, and the effects of blue light on our body's natural rhythm. Be prepared to reassess your dietary habits as we explore how trending low carb diets can negatively impact our cognitive abilities, leading to the dreaded brain fog.

Our conversation with Risk Crew's seasoned cybersecurity expert, RICHARD HOLLIS , is likely to challenge everything you thought you knew about the industry. For over three decades, Richard has been at the forefront of cybersecurity, and today he's sharing his perspective on the industry's shortcomings, the efficacy of products and vendors, and the startling loss of 16 billion personal records over the past seven years. Richard's insights are a wakeup call for an industry-wide shift in approach towards cybersecurity.

 Ever wonder how AI could revolutionize the healthcare customer experience? We've got Michael Armstrong , the CTO of Authenticx, joining us today to shed light on this fascinating intersection of tech and healthcare. Michael paints a compelling picture of using AI to analyze interactions from call centers to glean unique patient insights and address customer issues. He also explains why traditional surveys are falling short and how AI can fill that gap.

 Unlock the potential of AI as we navigate its profound impact on sectors such as farming, food security and the future of work with the insightful Mike De'Shazer , the lead dev and executive director of Giving Desk. Prepare yourself to be amazed as Mike shares his riveting story of merging AI and farming, choosing Dubai as his startup’s base and how his unique product 'Flags' is revolutionizing document analysis. Discover how Giving Desk is redefining philanthropy by creating prosperity through AI, fostering a culture of mutual growth.

 How do you revolutionize a traditional industry with AI? What if we told you that there's an AI product that can handle over 500,000 phone calls? You'll find the answers in our insightful conversation with Chris Barkhurst , CEO of BBCE and mastermind behind BarkyAI, the virtual call center agent that's disrupting the industry. Chris takes us on a fascinating journey, sharing how he leveraged AI to not only enhance business processes but also to create a solution for handling entry-level technical queries.

 Does the traditional clinical trial process capture the full breadth of patient experiences? Put on your learning caps as we join forces with Nadia Lipunova , VP RWE at Holmusk. Nadia is an epidemiologist specializing in psychiatry, who takes us on a deep-dive into the transformative power of real-world data. With the advent of electronic health records, we now have access to evidence that paints a much more comprehensive picture of patients' experiences - crucial in this era of personalized medicine.

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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