UK-founded UAE-HQ Insurtech startup AppliedAI has raised $55 million in a Series A funding round at a pre-investment valuation of $300 million. The round is led by G42, with participation from Palantir, Bessemer Venture Partners, McKinsey, and Accrete Capital. Founded in 2021 in the UK by Arya H. Bolurfrushan and relocated to the UAE in…

Saudi Arabia-based LAHINT e-services platform has closed a $1 million pre-seed funding round from undisclosed investors. Founded in 2023 by Ahmed Saber and Mohamed Ibrahim, LAHINT automates governmental services for individuals and businesses. LAHINT plans to utilise the funding to expand its governmental services through its platform. Also aims to feature AI-powered eligibility consultations for…

US-based AI and SaaS provider Salesforce has announced plans to invest $500 million in the Kingdom of Saudi Arabia, building on its commitment to innovation and economic growth in the region. The investment also aims to spur workforce development through AI skilling and expand Salesforce's local partner ecosystem to support local businesses. Investment will support enterprises…

Egypt-born and Saudi Arabia-HQ social e-commerce platform Taager has completed a $6.75 million pre-Series B funding round, led by Africa-focused tech growth fund Norrsken22. Founded in 2019 by Abdelrahman Sherief, Ahmed Ismail, Ismail Omar and Mohammed Elhorishy, Taager’s platform enables anyone to start and scale their own social e-commerce business by providing products, storage, shipping, and…

Press release: Penny Software, the digital procurement software, has signed a partnership with the National Housing Company (NHC) to develop SupplyPro, an innovative procurement platform tailored for the NHC housing sector. This collaboration marks a milestone in digitalising and streamlining procurement processes within Saudi Arabia's rapidly evolving housing industry. SupplyPro will serve as a centralised…

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…