RIYADH: A series of major funding rounds and strategic investments have recently strengthened the tech and startup ecosystem across the Middle East and North Africa (MENA), focusing on expanding regional innovation and scaling transformative solutions.
Key developments include Aramco’s Wa’ed Ventures co-leading a $19 million Series B extension for US-based Graphiant, alongside stc Group’s Tali Ventures, part of a larger $102 million round including Sequoia Capital and others. Graphiant plans to establish a regional HQ in Riyadh to support Saudi Arabia’s technology ambitions.
Saudi immersive media platform VUZ raised $12 million pre-Series C to expand globally, supported by the IFC and Saudi family offices. Saudi spacetech SARsatX secured $2.6 million seed funding to develop small satellites for Earth observation applications. Meanwhile, Saudi e-commerce platform Ziadah closed a seed round to improve marketing tools.
Egypt’s digital investment platform Thndr raised $15.7 million to grow across MENA, while Cairo-based used-car platform Sylndr secured $15.7 million Series A to scale nationally. UAE’s Tarjama raised $15 million Series A to advance Arabic AI technologies, launching Pronoia V2, an Arabic-first large language model.
Kuwait-based quick-commerce startup Circle raised $6 million Series A to expand in MENA. EFG Finance approved the acquisition of B2B platform Fatura by regional super app MaxAB-Wasoko, expected to drive significant revenue growth and pan-African expansion.
Egyptian fintech ElGameya raised a seven-figure round to scale its customizable savings app targeting underserved communities.
Abu Dhabi-based EQIQ doubled its Iraq-focused venture capital fund from $15 million to $30 million to back startups in e-commerce, logistics, and fintech, aiming to build a connected tech ecosystem.
Standard Chartered’s SC Ventures partnered with Dubai International Financial Centre to launch the National Venture Studio, supporting startups through ideation, prototyping, and scaling with access to research and ecosystem programs.
These investments reflect growing investor confidence in MENA’s vibrant startup scene, emphasizing fintech, immersive media, spacetech, AI, and quick-commerce, aligned with regional economic visions such as Saudi Vision 2030.
