Global Web3 early-stage venture asset manager, Sigma Capital, announced the launch of its $100 million Sigma C ..Read More

Global Web3 early-stage venture asset manager, Sigma Capital, announced the launch of its $100 million Sigma Capital Fund I, dedicated to accelerating Web3 innovation across the Middle East and globally. The fund committed to investing in early-stage Web3 startups, liquid tokens, and fund-of-fund allocations. Sigma Capital, with a presence in Dubai, Singapore, and the Cayman Islands, has established itself as a crypto VC asset manager focused on blockchain and cryptocurrency projects. Led by Web3 pioneer Vineet Budki, the fund aims to leverage global partnerships and extensive market access to drive the success of its portfolio companies.
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• Asset Manager

Egypt-based fintech, Raseedi, completed the acquisition of Kashat, which owns Pharos Microfinance S.A.E., in a ..Read More

Egypt-based fintech, Raseedi, completed the acquisition of Kashat, which owns Pharos Microfinance S.A.E., in an equity deal aimed at broadening its product offerings and introducing instant loans. Founded in 2018 by Ahmed Atalla and Samuel Samy, Raseedi provides underbanked users with services such as cheaper calls, saving tips, instant Airtime loans, and bill payments without requiring a credit history. Kashat, also founded in 2018 by Karim Nour and Sumair Farooqui, specializes in providing small loans to the financially excluded. Following the acquisition, Raseedi and Kashat announced plans to expand their fully digital solution across Africa and Asia to serve underbanked populations in these regions.
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• Fintech

Saudi Arabia-based AI-powered networking platform, Halo AI, secured $6 million in Seed funding, led by Raed Ve ..Read More

Saudi Arabia-based AI-powered networking platform, Halo AI, secured $6 million in Seed funding, led by Raed Ventures and Shorooq Partners, alongside other investors. Founded in 2024 by Vito Strokov, Rami Saad, and Alex Gadalin, Halo leverages AI to connect brands with nano- and micro-influencers in niche markets. The funding supported Halo AI's plans for global expansion, starting with Dubai and Kuwait, and scaling rapidly across MENA, Europe, and North America.
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• AI

Dutch-Palestinian edtech and career acceleration platform, TAP, secured $1 million in investment, led by Inves ..Read More

Dutch-Palestinian edtech and career acceleration platform, TAP, secured $1 million in investment, led by Invest International in the Netherlands, alongside contributions from a group of impact-focused angel investors. Founded in 2018 by Jafar Shunnar and Christian Vezjak, TAP initially focused on creating jobs in Gaza and has since evolved into a scalable tech solution. The funding will support TAP’s operations in Palestine, Jordan, and Lebanon and facilitate the launch of its AI-powered platform aimed at transforming job hunting for high-potential youth.
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• E-Learning Providers

Saudi Arabia-based interior design marketplace Revie raised $2.5 million in a Seed funding round led by Sanabi ..Read More

Saudi Arabia-based interior design marketplace Revie raised $2.5 million in a Seed funding round led by Sanabil Venture Studio by Stryber. Founded in 2024 by Ibrahim Abu Khadra, Revie offers an end-to-end renovation platform for residential and commercial projects. The funding was allocated to investing in technology and building a scalable foundation to support the company’s long-term growth.
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• Lifestyle and Home Improvement

Saudi Arabia-based aftersale services provider, Zension Technologies closed a $30 million Series A funding rou ..Read More

Saudi Arabia-based aftersale services provider, Zension Technologies closed a $30 million Series A funding round led by Saudi Aramco’s venture capital arm, Wa’ed Ventures, with participation from Japan’s Sumitomo Corporation and regional investor Global Ventures. Founded in 2018 by Khalid Saiduddin and Nikos Anastasiadis, Zension offers protection, extended warranty, and guaranteed buyback services for mobile devices and consumer electronics through major retailers, telcos, and OEMs in Saudi Arabia and the UAE. The funding supported the development of its new service, Zaam, set to launch in Q1 2025.
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• Information Technology

UAE-based AI startup, MilkStraw AI, secured $0.6M in pre-seed funding led by Flat6Labs, with participation fro ..Read More

UAE-based AI startup, MilkStraw AI, secured $0.6M in pre-seed funding led by Flat6Labs, with participation from Angel Spark, Beyond Capital, and other angel investors. Founded in the US in 2024 by Jawad Shreim, MilkStraw develops software to automate and optimise cloud infrastructure costs for businesses. The funding enabled the startup to advance its expansion plans across the MENA region.
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• AI

Nawy, Egypt’s leading proptech platform, completed the acquisition of ROA, a company known for its innovativ ..Read More

Nawy, Egypt’s leading proptech platform, completed the acquisition of ROA, a company known for its innovative property management solutions. This strategic move laid the foundation for the launch of Nawy Unlocked, a service aimed at enabling property owners to generate income from underutilized or unfinished properties with ease.
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• Proptech