Propeller has launched a new $50 million Fund III focused entirely on horizontal AI infrastructure and AI-native software startups. The fund aims to link MENA’s deep technical talent with Silicon Valley’s AI ecosystem while helping US startups connect with large-scale AI infrastructure implementers across the Middle East. Rooted in Jordan, Propeller now operates across Amman, Riyadh, Boston and Silicon Valley, positioning itself as a cross-border bridge between the MENA and US tech markets.
Fund III will invest in startups building foundational AI technologies—from silicon-adjacent innovations to enterprise AI workflows. Propeller has already made five US-focused investments this year, including Codemod, Netpreme, Stealthium, Pebble and Ciphero AI.
Founder Zaid Farekh emphasized that MENA’s future lies in global-first technology: “The future of MENA tech isn’t local, it’s global. Fund III is designed to bridge exceptional AI builders in the region with Silicon Valley’s AI markets and partners.”
Propeller highlighted its team’s experience launching and scaling software startups across both MENA and North America, backed by a wide network of partners and potential design partners. Earlier this year, Hani Azzam joined to expand Propeller’s US presence and now steps into the role of Partner with the launch of the new fund.
Across its previous two funds, Propeller has invested in more than 30 startups including Clarity, ActivePieces, OpenCX, Corgea, Hounddog.ai, POSRocket and Maqsam. Its second fund was backed by Saudi Venture Capital Company and Jordan’s Innovative Startups and SMEs Fund.
Founded in 2017, Propeller invests from Seed to Pre-Series A in horizontal AI infrastructure, AI-native applications, developer tools, and core software systems—now doubling down on global AI scaling through its new fund.
