This report, prepared by Rasmal, touches on the list of investments in 14 Arab startups that either received funding or were acquired during the month of November. Our list includes the names of the founders, investors, and the industries of each of these startups, their locations, and the amount of funding given to 12 of them, as the amount of funding for one of the 14 companies was not disclosed, while no details were provided about the only acquisition deal on our list.
The total amount of venture funding granted to the 12 companies that announced the amount of funds raised is estimated at $59.4 million, which provides a boost to the development and support of the MENA startup ecosystem.
Our list of supporting the ecosystem of the 14 Arab startups tracks the diversity of sectors targeted by investors in the MENA region, with the industries of the supported companies ranging from: 3 companies in the field of fintech, 2 in edtech, and one company each in the proptech, agritech, (SaaS), productivity, artificial intelligence, blockchain, marketplace and energy.
The List shows where these companies are based in Arab countries, with six companies in the United Arab Emirates, three companies in Saudi Arabia, two companies in Egypt and one company each in Morocco, Jordan and Tunisia.
13 investment transactions:
1- Silkhaus
Industry: Real Estate Rental Platform Investment amount: $7,750,000
Investors: Nuwa Capital, Nordstar Partners, Global Founders Capital, Yuj Ventures, Whiteboard Capital, VentureSouq
Founders: Aahan Bhojani, Ashmin Varma
Country: United Arab Emirates
2- Baraka
Industry: Fintech platform for commission-free investment
Investment amount: $20,000,000
Investors: Knollwood and Valar Ventures
Founders: Feras Jalbout
Country: United Arab Emirates
3- Fintech KLAIM
Industry: Providing capital to small and medium healthcare providers
Investment amount: $5.000.000
Investors: Knuru Capital
Founders: Karim Dakki, Ghafoor Ahmad
Country: United Arab Emirates
4- Rekt Studios
Industry: TranslateDevelopment of engineering products and designs via blockchain technology
Investment amount: $1.500.000
Investors: Cypher Capital
Founders: Elie Rizek
Country: United Arab Emirates
5- Qashio
Industry: Fintech platform for spending and finance management
Investment amount: $10.000.000
Investors: One Way Ventures, MITAA, Cadorna Ventures, Sanabil 500 MENA, Nuwa Capital, Iliad Partners, Phoenix Investments, Angel Investors, Family offices
Founders: Jonathan Lau, Armin Moradi
Country: United Arab Emirates
6- Order
Industry: Food & Beverage Orders through SaaS
Investment amount: $1.000.000
Investors: Angel Investors
Founders: Faisal AlAnazi, Essam Mohamed
Country: Kingdom of Saudi Arabia
7- DataLexing
Industry: Integrated data-driven productivity platform
Investment amount: $3.000.000
Investors: Sadu Capital, Impact46, Unnamed Investors
Founders: Rayan Alfaheid, Abdulelah Alganas
Country: Kingdom of Saudi Arabia
8- Jeel
Industry: Edtech and entertainment platform for children
Investment amount: $1.100.000
Investors: EdVentures, Nahdet Misr Publishing Group
Founders: Ahmed Sobaih
Country: Kingdom of Saudi Arabia
9- CONIX.AI
Industry: AI-based engineering design technology
Investment amount: $1.300.000
Investors: BIM Ventures
Founders: Yusuf Fahmy
Country: Egypt, UK
10- Grinta
Industry: Pharmaceutical Supply Chain Digitization
Investment amount: $8.000.000
Investors: Raed Ventures, Nclude, Endeavor Catalyst, 500 Global
Founders: Mohamed Azab, Yosra Badr, Ali Youssef, Hamza Mohamed
Country: Egypt
11- SmartProf
Industry: Marketplace for tutoring through edtech practices
Investment amount: $110.000
Investors: UM6P Ventures, Plug and Play, Angel Investors
Founders: Mustapha Faiz, Hamza Faiz, Ali Faouzi
Country: Morocco
12- Beekeeper
Industry: Increasing honey production through agricultural technology
Investment amount: $640.000
Investors: 216 Capital Ventures, Angel Investors, Bridging Angels
Founders: Khaled Bouchoucha
Country: Tunisia
13- Algebra Intelligence
Industry: Software Development for the Energy Sector
Investment amount: Financial details of the investment were not disclosed
Investors: Ibtikar Fund
Founders: Ahmad Altawafsheh, Ala’a Alghwiri, Batool Almallahi
Country: Jordan
1 Acquisition transactions:
14- Floward
Industry: E-commerce platform for selling flowers and gifts
Investment amount: Financial details of the investment were not disclosed
Investors: AbdulaIaziz Loughani
Acquired: Mubkhar Perfumes Company
Country: Kingdom of Saudi Arabia
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