Qatar-based VC firm, Rasmal Ventures, secured funding from Qatar Investment Authority (QIA) under its $1 billi ..Read More

Qatar-based VC firm, Rasmal Ventures, secured funding from Qatar Investment Authority (QIA) under its $1 billion Fund of Funds program. The investment backed Rasmal’s inaugural VC fund, Rasmal Innovation Fund I LLC, targeting high-growth startups across fintech, B2B SaaS, healthtech, and AI. In June 2024, Rasmal launched the fund with $30 million from institutional investors and family offices, aiming for a $100 million close.
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• Venture Capital

Egypt-based fintech, Khazna, closed a $16 million pre-Series B funding round with participation from SANAD Fun ..Read More

Egypt-based fintech, Khazna, closed a $16 million pre-Series B funding round with participation from SANAD Fund for MSME, anb Seed Fund, Aljazira Capital, Khwarizmi Ventures, Nclude, ICU Ventures, Quona, Speedinvest, and Disruptech Ventures. This follows its $38 million Series A round in March 2022. The new funding positions Khazna to apply for a digital banking license in Egypt and expand into Saudi Arabia.
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• Fintech

UAE-based AI startup, qeen.ai, closed a $10 million Seed funding round, one of the largest in the MENA region. ..Read More

UAE-based AI startup, qeen.ai, closed a $10 million Seed funding round, one of the largest in the MENA region. The round was led by Prosus Ventures, with participation from Wamda Capital, 10x Founders, and Dara Holdings. This investment brings qeen.ai’s total funding to $12.2 million, following a $2.2 million pre-Seed round in June 2024. The funds will drive platform expansion, team growth, and customer acquisition.
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• AI

Saudi Arabia-based AI startup, vminds.ai, closed a six-figure pre-Seed investment round from undisclosed angel ..Read More

Saudi Arabia-based AI startup, vminds.ai, closed a six-figure pre-Seed investment round from undisclosed angel investors. The funding will support the official launch of its platform for individuals and the rollout of its enterprise platform in Q3 2025. Founded by Ahmed Al-Mashhadi, vminds.ai integrates over 150 AI tools from global companies into a single intelligent, self-learning platform.
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• AI

Egypt-based venture capital firm, Foundation Ventures, closed the first round of its $25 million fund, FVFII, ..Read More

Egypt-based venture capital firm, Foundation Ventures, closed the first round of its $25 million fund, FVFII, with backing from the Egyptian American Enterprise Fund (EAEF), the Micro, Small, and Medium Enterprise Development Agency (MSMEDA), and Onsi Sawiris. Founded in 2018, Foundation Ventures focuses on early and growth-stage startups. The fund aims to support Egypt’s startup ecosystem and invest in promising African startups.
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UAE-based fintech, Myne, secured a $2 million pre-seed funding round, led by Scene Holding and followed by Raz ..Read More

UAE-based fintech, Myne, secured a $2 million pre-seed funding round, led by Scene Holding and followed by Raz Holding, with participation from Plus VC, Annex Investments, and other angel investors. Founded in 2024 by Karim Chouman, Myne offers a wealth management platform. The funding will support scaling operations, enhancing technology infrastructure, accelerating user acquisition, and driving regional expansion.
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• Fintech

Tunisia-based fintech, EasyBank, raised $0.37M from undisclosed investors. Founded in 2023 by Mohamed Khelifi, ..Read More

Tunisia-based fintech, EasyBank, raised $0.37M from undisclosed investors. Founded in 2023 by Mohamed Khelifi, EasyBank provides access to loans and banking services. The investment will support the company’s expansion into the Middle East, North Africa, and France, as it scales its operations and enhances its platform.
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• Fintech

Egypt-based CNC machine manufacturer, Simplex, secured $13 million in funding, led by Saudi Arabia-based Natio ..Read More

Egypt-based CNC machine manufacturer, Simplex, secured $13 million in funding, led by Saudi Arabia-based National Industrial Development Centre. Founded in 2013, Simplex provides industrial solutions to regional manufacturers across various industries. The investment will support the establishment of a factory in Riyadh dedicated to producing advanced CNC machines, marking a significant step in the company’s regional expansion and technological advancement.
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• Manufacturing