An article by Anna Skigin, co-founder of Frank Porter The impact of artificial intelligence (AI) extends across all industries as it has revolutionised traditional business practices. AI has seamlessly integrated into our daily lives, often without conscious acknowledgement and has allowed for enhanced efficiency across workplaces in various sectors. Beyond its subtle presence, AI has remarkable…

Egypt’s Raya FutureTECH, the innovation arm of Raya Holding, has concluded its first accelerator programme in collaboration with GIZ. The Demo Day that was held in Cairo witnessed the graduation of the first cohort of 13 startups, including Arzaq Masr, Cultivaet, Accounting Club, Meta Egypt, BUS14, Credify, Jadeed, Wfrley, PlanQ, Tatbeek, The Holiday Homes Service Co.,…

UAE-based mobility company Hala has announced plans to enter into the Egyptian market with local partner MwaslaTech. Hala, founded in 2019 through a joint venture between Careem and the Roads and Transport Authority (RTA) in Dubai, has signed a Memorandum of Understanding (MoU) with MwaslaTech,  a one-stop shop for smart transport and shared mobility solutions.…

Qatar-based startup community “Startup Grind Qatar” has partnered with UK’s Builder.ai, the AI-powered composable software platform that digitally empowers businesses and entrepreneurs digitally.  Through this collaboration, Qatar-based startups will gain access to Builder.ai's platform and expertise, enabling them to streamline their development processes, accelerate time-to-market, and scale their businesses efficiently. Founded in 2019 Startup Grind…

UAE-based Maalexi agriculture-focused fintech Maalexi has raised a $1 million venture debt from Stride Ventures. Founded in 2021 by Azam Pasha and Rohit Majhi, Maalexi helps small food and agri-businesses directly access cross-border trade through its dynamic risk management platform. The investment will accelerate Maalexi's growth plans and boost its operational capabilities to foster more efficient…

Jordan’s investment fund, the Innovative Startups and SMEs Fund (ISSF), has invested $5 million in Global Ventures’ Fund III.  Founded in 2018 by Noor Sweid, Global Ventures is a Series-A focused, emerging-market VC firm investing in mission-driven founders across the MENA region. with $300 million AUM. Global Ventures has been mandated by ISSF to invest…

Investment activity in MENA’s startup space slowed down in June 2024, as 38 tech startups raised $116 million, bringing the half-year total to $882 million. The amount raised in June declined 59% month-on-month, but rose 182% when compared to the same period last year.  UAE-based startups led the region in funding last month, securing $82.5…

India-based crypto exchange company CoinDCX has acquired the UAE-based virtual assets trading platform BitOasis, for an undisclosed value. The acquisition marks CoinDCX debut in the MENA region. Founded in 2016 by Ola Doudin, BitOasis is MENA’s first and largest crypto asset exchange. It is available in 15 countries across the region, allowing its users to buy,…

Egypt-based edtech startup El Kheta has raised a $400,000 investment from EdVentures. Founded in 2019 by Mohamed Mahmoud, El Kheta platform allows students to tailor their preferred curricula and create a study plan that suits their needs. EdVentures is the investment arm of Nahdet Misr Group and the first VC company specialising in the educational…

Saudi Arabia-based edutainment platform Jeel has raised a seven-figure funding round from RZM Investments and angel investors.  Jeel, founded in 2020 by Ahmed Sobaih, provides Arabic content for children, adolescents, parents, and educators. Part of the funding will be used to add new languages to the Jeel app, attract more users from various Arab countries,…