Saudi Arabia-based Miran and Egypt-based Welnes announced their merger, backed by leading investors including ..Read More

Saudi Arabia-based Miran and Egypt-based Welnes announced their merger, backed by leading investors including Flat6Labs, Samurai Incubate, UI Investments, and prominent angel investors—one of whom, a Doroob VC member, led the deal. The merger combined Miran’s AI-driven health platform with Welnes’ fitness community, reflecting strategic investor confidence and aligning with Saudi Arabia’s Vision 2030 goals of fostering a health-conscious society through innovation and local entrepreneurship.
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• Healthtech

UK-based Development Partners International (DPI), an Africa-focused PE firm, took over management of Egypt-ba ..Read More

UK-based Development Partners International (DPI), an Africa-focused PE firm, took over management of Egypt-based fintech fund Nclude from Global Ventures. Nclude, launched in 2022 with $110M anchored by Banque Misr, had deployed $28M across nine startups including Partment, Khazna, and Paymob. DPI, having invested nearly $850M in Egypt over the past decade, will advise the fund via a dedicated local team.
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• Fintech

Egypt-based semiconductor startup, InfiniLink raised $10 million in a seed funding round from MediaTek, Sukna ..Read More

Egypt-based semiconductor startup, InfiniLink raised $10 million in a seed funding round from MediaTek, Sukna Ventures, Egypt Ventures, and M Empire Angels. Founded in 2022 by Ahmed Aboul-Ella and Botros George, the startup focuses on optical data connectivity chips for AI-driven data centres. The investment aimed to accelerate InfiniLink’s development of advanced connectivity solutions leveraging analogue mixed-signal and photonics expertise.
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• Technology

Egypt-based pharma marketplace, Grinta, raised an undisclosed funding round from Beltone Venture Capital and R ..Read More

Egypt-based pharma marketplace, Grinta, raised an undisclosed funding round from Beltone Venture Capital and Raed Ventures. Founded in 2021 by Mohamed Azab, Yosra Badr, Ali Youssef, and Hamza Mohamed, Grinta connects pharmacies with traceable pharmaceutical products. The funding will support Grinta’s pivot into hybrid direct patient care following its acquisition of Citi Clinic and facilitate its planned expansion into East Africa.
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• Healthtech

PayTabs Group acquired a 51% stake in PayTabs Egypt from EFG Finance, a subsidiary of EFG Holding. The transac ..Read More

PayTabs Group acquired a 51% stake in PayTabs Egypt from EFG Finance, a subsidiary of EFG Holding. The transaction aligns with PayTabs' strategy to drive digital transformation and financial inclusion in Egypt. This acquisition strengthens its market position, enabling merchants to expand and enhancing secure payment solutions for consumers.
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• Fintech

Egypt-based waste management platform, Mrkoon, secured bridge funding from A Ventures, increasing the fund’s ..Read More

Egypt-based waste management platform, Mrkoon, secured bridge funding from A Ventures, increasing the fund’s stake in the startup to 28%. This investment supports Mrkoon’s regional expansion plans, including entry into the GCC.
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• Environment

Egypt-based fintech, Fawry, has invested in Egypt-based fintech, Dirac Systems, acquiring a 51.0% equity stake ..Read More

Egypt-based fintech, Fawry, has invested in Egypt-based fintech, Dirac Systems, acquiring a 51.0% equity stake. The investment is part of Fawry’s strategy to expand its business solutions ecosystem, “Fawry Business.” Founded in 2008, Fawry is Egypt’s largest e-payment platform, offering electronic bill payments, mobile top-ups, and digital financial services.
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• Fintech

Egypt-based fintech giant, Fawry, invested in Egypt-based fintech, Code Zone, acquiring a 51.0% stake to suppo ..Read More

Egypt-based fintech giant, Fawry, invested in Egypt-based fintech, Code Zone, acquiring a 51.0% stake to support its expansion in digital business solutions. The investment is part of a broader $1.6 million funding initiative aimed at strengthening Fawry’s position in Egypt’s fintech sector.
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• Fintech