Welcome to our daily funding update for MENA startups. This brief will cover the latest funding news and investments from the region’s vibrant startup ecosystem.
9th August 2023 Funding and Investment Update
1. AI-Driven Recruitment Firm Talents Arena Closes $750,000 Pre-Seed Funding Round Led by UI Investments to Expand Into Saudi Arabia and the Gcc.
AI-driven recruitment firm Talents Arena has announced the closing of a $750,000 pre-seed funding from UI Investments and the participation of some prominent Saudi and regional investors. Talents Arena is a startup of the Flat6Labs accelerator and graduated from the famous Plug and Play accelerator program. The company has successfully conducted over 180,000 job interviews and put thousands of candidates into suitable technical jobs using its unique engine and automation features. This funding round comes as Talents Arena becomes a leading force in the AI recruitment industry, playing a critical role in closing the unemployment gap in the Middle East and Africa, and the new funds will be directed towards expansion plans in Saudi Arabia and the GCC.
2. Saudi Edtech YaSchools Raises $600,000 Seed Funding to Expand in Jordan.
YaSchools, a Saudi education management technology startup, has closed a $600,000 seed round raised from angel investors. YaSchools, which was founded in 2021 by entrepreneurs Mohamed Zuhair, Ahmed Mahdi, and Yasser Nasr El-Din, is the first electronic platform specialized in managing the educational system, as it provides information about everything related to the educational process from schools, teachers, and students, in addition to various educational services and activities within the Kingdom of Saudi Arabia. The platform relies on the circulation and analysis of big data using artificial intelligence and financial technology techniques that help obtain information and implement tasks in an easy and fast digital way that enriches the educational process. The company will use the funds collected in current and future expansion steps, as the company is currently preparing to expand in Jordan based on an operational plan that has been finalized and will be activated within a few weeks.
3. Egyptian Cybersecurity and Surveillance Firm Buguard Raises $500,000 Seed Funding Led by A15 to Grow Its Team and Increase Sales.
Cairo-based cybersecurity and surveillance firm Buguard announced that it has successfully raised $500,000 in seed funding led by venture capital firm A15. Buguard provides cybersecurity services to several leading major companies in Egypt, such as Fawry, EFG-Hermes, Maksab-MaxAB, Halan, Rabbit Mart and others, and has expanded its customer base globally to include clients from Saudi Arabia, the United States, France, Australia, Japan, the United Kingdom, Singapore and the United Arab Emirates. Alongside its existing cybersecurity services, Buguard is proud to announce the official launch of Dark Atlas, a new SaaS product to monitor Dark Web Monitoring and prevent the acquisition of corporate and personal accounts. Buguard will leverage new funding funds to grow its team, focusing on product, sales and implementing solid partnerships.
That’s all for today’s funding update. Stay tuned for more updates on the MENA startup scene, and remember to subscribe to our newsletter or browse our archives for more news and analysis.
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Last Updated on August 9, 2023 by Safiya K
