Egypt-based venture capital firm Foundation Ventures has announced the first close of its $25 million fund, FVFII, backed by the Egyptian American Enterprise Fund (EAEF), the Micro, Small, and Medium Enterprise Development Agency (MSMEDA), and Onsi Sawiris. Founded in 2018 by Mazen Nadim, Omar Barakat and Ziyad Hamdy, Foundation Ventures is focusing on investing in…

I recently posted a quick reaction on LinkedIn about the DeepSeek "bombshell" that rocked the US AI ecosystem, receiving the most likes and comments on any post I've ever made, for three reasons: Because I said [tech] innovation can happen globally, not just in Silicon Valley.  Because I said competition is essential for spurring innovation.  Because…

UAE-based fintech Myne has raised a $2 million pre-seed funding round, led by Scene Holding, followed by Raz Holding with participation from Plus VC, Annex Investments, and a group of other angel investors. Founded in 2024 by Karim Chouman, Myne is a wealth management platform that provides asset tracking, real-time market integration, live budgeting tools…

Tunisia-based fintech EasyBank has secured an investment of $370,000 from undisclosed investors. Founded in 2023 by Mohamed Khelifi, EasyBank's platform facilitates access to loans and various banking services. This investment will support the company’s plans for global expansion, including the Middle East, North Africa, and France. Press release: Tunisian fintech startup EasyBank has announced securing an investment of 1.2…

At first glance, the startup ecosystem in the Middle East and North Africa (MENA) appears to have experienced a staggering growth in January 2025, raising a total investment of $863 million distributed over 63 rounds. But when discounting the debt financing ($768 million), the amount will be almost similar to January 2024. Last month showed…

Bahrain-born edtech startup Unipal has raised its Pre-Series A investment round for an unknown amount. The round is led by Plus VC with participation from Al Jazira Capital, RZM Investments, Falak Angels, Doha Tech Angels and other angel investors. Founded in 2020 by Ali Alalawi and Ali Al Shaer, Unipal offers an online education application…

Saudi Arabia-based SaaS provider Salla has entered into an agreement to acquire Sweply, an innovative Saudi digital advertising platform. Following the acquisition, Sweply will be rebranded as "Salla Ads," becoming the official advertising solution within Salla’s ecosystem. Founded in 2016 by Nawaf Hariri and Salman Butt, Salla enables merchants to set up their e-commerce online…

Saudi Arabia-based contech BRKZ has completed its Series A extension at $17 million, including $8 million raised in March last year and $1 million in venture debt. The funding was backed by investors, including Capifly along with existing investors, BECO Capital, Aramco’s Waed, 9900 Capital, Better Tomorrow Ventures, RZM Investment, Class 5 Global, MISY Ventures, Knollwood…

Saudi Arabia-based social media platform Mush Social has acquired Pubbles, a Saudi social media app.  The acquisition aims to expand Mush Social’s user base and reinforce its digital presence.  Founded in 2022 by Abdulhadi Alasmi, Mush Social is a social platform that allows users to earn points and own virtual assets through its innovative map…

UAE-based AI startup qeen.ai has secured a $10 million Seed funding round, in one of the largest seed investments in the MENA region to date.  The round is led by Prosus Ventures, with participation from existing investors including Wamda Capital, 10x Founders and Dara Holdings. Founded in 2023 by Dina Alsamhan, Ahmad Khwileh and Morteza…