Oman Investment Authority (OIA) acquired an undisclosed stake in Elon Musk’s AI startup, xAI, as part of its ..Read More

Oman Investment Authority (OIA) acquired an undisclosed stake in Elon Musk’s AI startup, xAI, as part of its portfolio diversification strategy. Earlier, xAI raised $6 billion in a Series B round from investors including Qatar Investment Authority, Valor Equity Partners, and Saudi Arabia’s Kingdom Holding, reaching a $50 billion valuation. OIA is also a shareholder in Musk’s SpaceX.
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• Information Technology

Iraq-based Iraq Venture Partners (IVP) secured $2.7 million from the Kingdom of the Netherlands for the second ..Read More

Iraq-based Iraq Venture Partners (IVP) secured $2.7 million from the Kingdom of the Netherlands for the second phase of the Orange Corners Innovation Fund (OCIF). The funding aimed to provide technical expertise, network access, and financial support to Iraqi entrepreneurs.
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• Startups
• Venture Capital

Saudi Arabia-based AI infrastructure provider OmniOps secured $8 million in funding from GMS Capital Ventures. ..Read More

Saudi Arabia-based AI infrastructure provider OmniOps secured $8 million in funding from GMS Capital Ventures. Founded in 2024 by Mohammed Altassan, OmniOps delivers cloud and high-performance computing (HPC) solutions to support businesses with scalable infrastructure. The investment enabled OmniOps to scale operations, enhance R&D, and advance AI infrastructure in Saudi Arabia.
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• Information Technology

Lebanon-founded music streaming app Anghami Inc. secured a $55 million funding round from OSN Group, including ..Read More

Lebanon-founded music streaming app Anghami Inc. secured a $55 million funding round from OSN Group, including $12 million in an initial investment through a convertible note programme. OSN+, owned by Kuwait Projects Company Holding (KIPCO), merged with Anghami in April, acquiring a 55.45% majority stake. This investment aimed to accelerate the growth of both Anghami and OSN+, supporting the expansion of their content libraries. In March 2024, Saudi Arabia's MBC Group acquired a 13.7% stake in Anghami, which went public on the US NASDAQ last year.
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• Media & Entertainment

Saudi Venture Capital (SVC) committed an investment in MEVP’s $150 million Middle East Venture Fund IV for a ..Read More

Saudi Venture Capital (SVC) committed an investment in MEVP’s $150 million Middle East Venture Fund IV for an undisclosed amount. Anchored by the European Investment Bank (EIB), the fund targeted early to growth-stage tech companies across the GCC, Levant, and North Africa.
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• Private Equity
• Venture Capital

UAE-based refurbished electronics marketplace, Revibe secured $7 million in a Series A funding round co-led by ..Read More

UAE-based refurbished electronics marketplace, Revibe secured $7 million in a Series A funding round co-led by ISAI and Resonance, with participation from Kima Ventures and Edouard Mendy. Founded in 2022 by Abdessamad Benzakour and Hamza Iraqui, the B2C marketplace operates in KSA, UAE, Kuwait, and South Africa. This funding followed the $2.3 million raised in a seed round last year, supporting Revibe’s efforts to expand in emerging markets and enhance its customer care and quality assurance teams.
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• Lifestyle and Home Improvement

Jordan-headquartered SaaS startup, InvoiceQ raised $1.2 million in a pre-Series A funding round, backed by Oas ..Read More

Jordan-headquartered SaaS startup, InvoiceQ raised $1.2 million in a pre-Series A funding round, backed by Oasis 500, Orange VC, Flat6Labs, Natej Soft, and several angel investors. Founded in 2020 by Muhannad Tobal, Fadi Al-Jabali, Amer Ayyad, and Mohammad Baseet, the company previously secured $440,000 in 2022 from Jordan Ahli Bank's accelerator, Ahli Fintech. The latest funding was directed towards InvoiceQ’s geographic expansion plans, targeting markets in Oman, Egypt, the UAE, and the wider GCC.
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• Information Technology

UAE-based fintech CredibleX secured $55 million in Seed funding through a combination of equity and debt. The ..Read More

UAE-based fintech CredibleX secured $55 million in Seed funding through a combination of equity and debt. The round included equity investment from Further Ventures and debt financing from Kilgour Williams Capital, Berkley Square Finance, and other providers. Founded in 2023 by Ahmad Malik, Anand Nagaraj, and Hassan Reda, the funding was aimed at accelerating CredibleX’s growth and expanding its tailored financial services for SMEs.
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• Fintech