Egypt-based fintech Raseedi has acquired Kashat, which in its role owns Pharos Microfinance S.A.E., a subsidiary of Kashat, in an equity deal to broaden its product offerings and introduce instant loans. Founded in 2018 by Ahmed Atalla and Samuel Samy, Raseedi offers underbanked users a dialler to make cheaper calls, receive saving tips, make payments…

Global Web3 early-stage venture asset manager Sigma Capital has launched the $100 million Sigma Capital Fund I dedicated to accelerating the next wave of Web3 innovation in the Middle East and globally. The fund will focus on early-stage Web3 startups, liquid tokens, and fund-of-fund allocations. Sigma Capital is a global crypto VC asset manager dedicated…

UAE-based contech Opteam has raised an undisclosed pre-Seed round, led by Plus VC, with participation from Dar Ventures, SIAC Ventures and Oraseya Capital. Founded in 2020 by Tarek Hegazy and Ahmed Hegazy, Opteam empowers construction teams with tools for monitoring progress, real-time dashboards and intelligent schedule optimisation. The new capital will be deployed to deepen…

UAE-based AI solutions provider Teammates.ai has raised an undisclosed funding round from Hustle Fund, Access Bridge Ventures, Oraseya Capital, Beyond Capital, and other angel investors.  Founded in 2023 as Uktob.ai by Emad Ayyad and Kareem Ayyad, Teammates provides enterprises with AI colleagues that can handle various tasks like customer support and email management across 50…

Daily News Egypt Nawy, Egypt’s leading proptech platform transforming real estate buying, selling, and investment, has announced its acquisition of ROA, a company renowned for its innovative property management solutions. This strategic acquisition sets the stage for the launch of Nawy Unlocked, a groundbreaking service designed to help property owners effortlessly generate income from underutilised…

Press release: Startup Grind Qatar, the local chapter of the global startup community, held its Tech Startup Community Awards Programme, designed to honour the remarkable achievements of individuals and startups, driving innovation and growth in Qatar’s tech ecosystem. This inaugural edition of the awards programme was supported by Arisio.io, a startup collaboration and data platform. Focused…

Saudi Arabia-based AI-powered networking platform Halo AI closed a $6 million Seed funding round, led by Raed Ventures and Shorooq, along with other investors. Founded in 2024 by Vito Strokov, Rami Saad, and Alex Gadalin, Halo uses AI to connect brands with nano- and micro-influencers who have audience relationships in specific niches. The investment will…

An article by Karim Khorshed, co-founder and CEO of CEQUENS In recent years, the world has realised the importance of small and medium enterprises (SMEs), which now represent 90% of all businesses globally. These enterprises account for over 70% of global employment and contribute to 50% of the global GDP, according to the United Nations' report…

UAE-HQ AI startup MilkStraw AI has raised $600,000 in pre-seed funding, led by Flat6Labs, with participation from Angel Spark, Beyond Capital, and other angel investors.  MilkStraw, founded in the US in 2024 by Jawad Shreim, develops software that automates and optimises cloud infrastructure costs for businesses. The funding will accelerate MilkStraw AI’s plans to expand…

Saudi Arabia-based aftersale services provider Zension Technologies has closed a Series A funding round at $30 million, led by Saudi Aramco’s venture capital arm Wa’ed Ventures, with Japanese giant Sumitomo Corporation and regional investors Global Ventures participating. Founded in 2018 by Khalid Saiduddin and Nikos Anastasiadis, Zension provides protection, extended warranty and guaranteed buyback services…