Web3 streaming platform myco has raised $10 million in its Series A funding round, securing a post-money valuation of $80 million. The funds will support its expansion into new markets and the relaunch of its utility token on the Aptos Blockchain. The company also reported its first profitable year with $7.5 million in revenue.
An undersea cable cut between Dubai and Oman has led to potential Internet service slowdowns for du network users in the UAE. Du is rerouting traffic through alternative systems to minimize impact and expects normal service levels to resume in a few days. The company is working on a swift resolution.
CNTXT has expanded its partnership with Google Cloud to launch Sovereign Controls by CNTXT, a cybersecurity solution in Saudi Arabia. The offering provides managed External Key Management (EKM) with Key Access Justifications (KAJ), enabling organizations to securely move sensitive workloads to the cloud while maintaining strict data sovereignty and regulatory compliance.
Sharjah is leading the UAE’s AI-driven economic transformation, with significant investments in AI, deep tech, and innovation. The upcoming Sharjah Investment Forum (SIF) will gather global leaders to discuss how AI and deep tech can drive future economic growth, positioning Sharjah and the UAE at the forefront of Industry 4.0 in the Middle East.
Klumi Ventures and Fuze have partnered to bridge traditional finance with digital assets in the UAE. This collaboration aims to accelerate Web3 adoption by enhancing cross-border payments, offering educational initiatives, and developing new digital asset solutions. The partnership aligns with Abu Dhabi’s Vision 2030 and is set to transform the region’s financial landscape.
Ericsson, in partnership with stc Group, King Saud University, and Vonage, has launched the ‘Spark Tomorrow’ tech hackathon in Saudi Arabia. The two-day event will bring together developers to create innovative applications using IoT, AI, and XR technologies, supporting Saudi Arabia’s Vision 2030 goals of advancing digital transformation and innovation.
Oracle has launched its second public cloud region in Riyadh as part of a $1.5 billion investment to support Saudi Arabia’s digital transformation under Vision 2030. The new region will enhance cloud and AI adoption across sectors, joining existing and planned Oracle cloud regions in Jeddah and NEOM.
Saudi Arabia will host the 19th United Nations Internet Governance Forum (IGF) in Riyadh from December 15-19, under the theme “Building our Multistakeholder Digital Future.” The event will gather over 10,000 participants and focus on innovation, digital governance, human rights, and sustainability in the digital age.
Europcar Oman has launched WiFi units with unlimited 5G data, providing seamless connectivity for travelers. These units offer fast, reliable internet access on the go, allowing multiple devices to connect simultaneously. The service ensures convenience, reliability, and affordability, enhancing the travel experience for business and leisure travelers alike.
ITIDA has partnered with CARITech to enhance Egypt’s software development sector through training, certification, and consultancy services. This collaboration, formalized by an MoU, aims to improve digital talent efficiency and align professionals with international standards, reinforcing Egypt’s position as a global IT services hub while expanding CARITech’s reach in global markets.
