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- The CTO Show with Mehmet - Week in Review: Jan 21, 2024
The CTO Show with Mehmet - Week in Review: Jan 21, 2024
Welcome to the 50th 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 1620 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:
Wamda: Wamda.com
Disrupt Africa:
https://disrupt-africa.com/
From logistics to fintech, and from climate tech to AI, the startup landscape in the MEA region is buzzing with activity and innovation. This week's insights showcase the dynamic nature of the startup ecosystem, with significant investments and strategic initiatives driving growth and transformation across various sectors.
Logistics Sector
Bosta's Strategic Investment from Axian Group: Egypt-based logistics pioneer Bosta has received a new investment from Axian Group. The investment will power Bosta's vision to revolutionize delivery and logistics services, building on their impressive track record of over 10 million shipments and recent expansion to Saudi Arabia. Read More
Fintech Sector
Zeal's $4 Million Funding Achievement: Zeal, an innovator in the fintech space, has raised $4 million to transform in-store customer engagement and brand loyalty. This round, led by Raed Ventures and Cur8 Capital, marks a significant milestone for Zeal in enhancing payment solutions for retailers. Read More
Ezdehar's $10 Million Investment in Yodawy: Ezdehar has strategically invested $10 million in Yodawy, an Egyptian healthtech startup, marking its first venture into the healthtech domain. This investment will bolster Yodawy's mission to streamline prescription processing and medicine delivery. Read More
Entrepreneurship and Innovation
MEST's Tech Entrepreneurship Training Program: Applications are now open for MEST's comprehensive 12-month tech entrepreneurship training program in Accra, Ghana. This program is a golden opportunity for budding entrepreneurs to turn their visions into successful startups. Read More
KOKO's Climate Focus Attracts RMB Funding: KOKO, a Kenyan climate-tech startup, has secured funding from Rand Merchant Bank to further its mission of providing eco-friendly bioethanol cooking fuel to urban homes in Kenya. Read More
Property Technology
Silkhaus’s Expansion Powered by New Funding: UAE’s Silkhaus is on a growth trajectory with a substantial pre-Series A financing from Partners for Growth, supporting its mission to redefine short-term rentals and property management. Read More
Venture Capital and Investment Trends
Aramco's Bold $4 Billion Commitment to Ventures: Aramco Ventures receives an additional $4 billion from Saudi Arabia's state-owned oil giant, Aramco, underscoring the company's commitment to nurturing disruptive technologies and startups globally. Read More
Health Technology
Artificial Intelligence
G42’s Investment in Analog: G42’s investment in Abu Dhabi-based AI startup Analog signifies a strong commitment to advancing AI and digital transformation, paving the way for innovative solutions in sectors like healthcare and the environment. Read More
Entrepreneurship and Accelerator Programs
Spark Accelerator's New Edition for Kenyan Startups: In partnership with Safaricom, M-PESA Africa, and Sumitomo Corporation, the Spark Accelerator is set to empower early-stage fintech and content startups in Kenya, offering extensive support to scale their operations. Read More
🔍 Conclusion
There's a noticeable rise in investment activity within the tech, logistics, and fintech sectors across both the MENA region and Africa this week. In particular, the health tech and digital transformation segments in the MENA region seem to be burgeoning, with substantial investments from major companies like Aramco and G42. Africa seems to be focusing more on climate change issues and fintech, as seen with KOKO and the Spark Accelerator initiative.
Global Tech Industry and Startup Trends & News This Week
Mergers and Acquisitions:
Amazon's iRobot deal faces potential block by the European Union: EU regulators are concerned about the deal's anti-competitive implications, potentially jeopardizing Amazon's acquisition of the popular robot vacuum cleaner maker.
Lordstown Motors founder launches new EV truck startup: Steve Burns, known for his previous electric vehicle venture, is back with Endurance, focusing on commercial trucks powered by GM's Ultium battery technology.
Funding and Investment:
Exponent Founders Capital raises $75 million: This early-stage VC firm, backed by alumni of Plaid and Robinhood, focuses on enterprise SaaS, fintech, and infrastructure startups.
BoxGroup closes on $425 million for two new funds: Despite the economic slowdown, this VC firm continues to invest in early-stage startups across various sectors like consumer, healthcare, and finance.
Industry Trends:
Continued tech layoffs: Companies like Amazon and Meta reportedly implemented more job cuts, adding to the significant number of losses seen throughout 2023.
Questions about TikTok's growth: Some reports suggest TikTok's user engagement might be slowing down, raising concerns about its future trajectory and the potential impact of its e-commerce platform, TikTok Shop.
Microsoft breach highlights data privacy concerns: Hackers successfully infiltrated Microsoft, raising questions about the vast amount of user data collected by tech giants and the need for stronger data privacy regulations.
Other noteworthy news:
Apple's Vision Pro competitor, the rabbit r1, received positive attention: This AR headset boasts unique features and could potentially shake up the emerging mixed reality market.
Meta faces legal challenges in Spain regarding content moderation practices: The use of subcontractors for content moderation raises concerns about worker rights and accountability.
Episodes Recap:
On Episode 283:
Unlock the secrets to effective leadership within the tech realm as I, Mehmet, join forces with the esteemed executive coach, Vladimir Baranov 🇺🇦 . Together, we shed light on the pivotal role that coaching plays in aiding tech industry leaders and founders to steer their own ship. As Vladimir eloquently distinguishes coaching from mentoring, consulting, and therapy, he shares how his approach empowers clients to uncover new possibilities through strategic questioning, rather than spoon-feeding them advice. The crux of our conversation reveals when leaders should seek coaching and how to measure its transformative impact on their journey to becoming more effective at the helm.
On Episode 284:
Navigating the stormy seas of tech fundraising, we were fortunate enough to be joined by the insightful Andrew Ryan, the mastermind behind NewChip Accelerator and Astralabs. Andrew, with his extensive experience in startups and AI, opened up about the tremors shaking the investment landscape. He painted a vivid picture of the ongoing downturn in investments and what it means for startups scrambling for capital. We tackled the evolving role of AI in shaping competition and investment outlooks, and the creative strategies founders employ, from bootstrapping to seeking support from angel investors.
On Episode 285:
The unmistakable beep and whir of an MSX computer booting up marked the start of Barry Luijbregts ' lifelong dance with code, a passion he shares with us as we traverse the landscape of software development and podcasting. Our conversation glides from his early days of programming to his current endeavor, Podhome FM, a modern podcast hosting platform. Through Barry's eyes, we witness the transformation of technology from the bulky tapes and CRT screens of yesteryear to the sleek digital advancements of today — a journey that reveals the potent magic of Microsoft technologies and the rich history of software development.
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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