UAE-based F&B e-commerce platform Watermelon Ecosystem has closed a $4 million Series A funding round, led by undisclosed investors, who have acquired a 13.8% capital shareholding, giving the company a post-money valuation of $29 million. Founded in 2020 by Omar AlShamsi, Watermelon Ecosystem is a B2B marketplace that connects buyers with sellers across the F&B…

Egypt-based B2B e-commerce  platform Cartona has raised $8.1 million ​in a ​Series A extension ​fundraise, led by  Algebra Ventures, along with existing investors, including Silicon Badia and the SANAD Fund for MSME. The round is a mix of equity capital ($5.6 million) and $2.5 million in debt from ​​Camel Ventures and GlobalCorp. Founded in 2019…

Saudi Arabia-based deeptech AI company Intelmatix has closed a $20 million Series A funding round, led by Shorooq Partners and joined by Saudi Venture Capital Company (SVC), Saudi Technology Ventures (STV), Olayan Financing Company, Sultan Holdings, Zain Ventures, and Rua Growth Fund. Founded in 2021 by a group of MIT graduates led by Anas Alfaris,…

Egypt-based edtech Educatly has secured a new funding round of $2.5 million led by TLcom Capital and Plus VC. The round also saw participation from Egypt Venture (Egypt) and the HBAN syndicate (Ireland).  Founded in 2020 by Mohamed ElSonbaty, Abdelrahman Ayman and Joan Manuel, Educatly democratises access to higher education opportunities. The funding will solidify…

Egypt’s MNT-Halan has raised $157.5 million in funding, featuring contributions of $40 million from the International Finance Corporation (IFC), with the remaining funds supplied by Development Partners International (DPI), Lorax Capital Partners, funds managed by Apis Partners LLP, Lunate, and GB Corp. Founded in 2017 by Mounir Nakhla, MNT-Halan offers a diverse portfolio of financial…

Jordan’s Innovative Startups and SMEs Fund (ISSF) has increased its commitment to Oasis Ventures II fund (OVII) managed by Oasis500 from $3 million to $5 million. Founded in 2010, Oasis500 focuses on empowering early-stage ICT companies in Jordan through pre-seed and seed funding. The partnership between Oasis500 and the ISSF has resulted in investments in…

Egypt-based fintech Banknbox has partnered with CSC Jordan to drive financial inclusion and offer joint advanced services to customers of both companies. Founded in 2022 by Bassem Mahmoud, Banknbox provides a diverse range of services, including ATM administration, transaction monitoring, POS and soft-POS. Meanwhile, CSC Jordan, founded in 2004, offers all forms of electronic payment…

UAE-based fintech Mamo has raised a $3.4 million funding round, provided by existing investor 4DX Ventures and the Dubai Future District Fund, along with Cyfr Capital. Founded in 2019 by Asim Janjua, Imad Gharazeddine and Mohammad El Saadi, Mamo empowers SMEs in the MENA region by simplifying their financial operations and enhancing cost-efficacy. The additional…

Iraqi VC firm EQIQ has led a pre-Seed round of the Finnish edtech Corrsy, which stands at $500,000. EQIQ, founded by Mohamed Al-Hakim, is a regional venture capital firm that aims to boost the Iraqi tech startup ecosystem. Founded in 2019 by Mustafa Salam, Corrsy aims to address the educational challenges in Iraq and the…

UAE-HQ retail technology solutions provider Pathfinder has raised an investment of $325 million from Silver Rock Group, ahead of  its NASDAQ listing. Founded in 2000 by Ahmed Hussain and Sadique Ahmed, Pathfinder delivers solutions that enhance customer engagement and drive business success. Silver Rock Group will provide Pathfinder with the funding over the next three years, starting…