STV has closed its US$100 million STV NICE Fund I, a non-dilutive capital fund aimed at supporting Saudi Arabia’s tech startups. The fund offers Sharia-compliant financing, allowing growth-stage companies to scale without equity dilution. Backed by public-private partnerships, it aligns with Saudi Arabia’s Vision 2030 economic diversification efforts.
MedIQ has raised $6 million in Series A funding, led by Rasmal Ventures and Joa Capital, to accelerate its expansion in Saudi Arabia, Qatar, and the GCC. The digital health startup is building an AI-powered hybrid healthcare ecosystem to modernize healthcare delivery and align with Vision 2030’s transformation goals.
Prime Minister Shehbaz Sharif announced $700 million in foreign investment for Pakistan’s IT sector at the DFDI-2025 conference. He emphasized the country’s digital potential, driven by its young population, and highlighted collaborations with companies like Huawei. Pakistan’s growing influence in the global IT landscape was also acknowledged at the event.
Dr. Amr Talaat, Egypt’s Minister of Communications, held key meetings in Dubai to discuss international partnerships with companies like Honor, Atos, and Mashreq Group. The discussions focus on boosting Egypt’s tech sector through local manufacturing, investment, and technological collaboration, with strong ties to China contributing to economic growth.
TruBuild has raised $1 million in a seed round led by Waʼed Ventures, Dar Ventures, and Plug & Play Ventures. The funding will help enhance its AI-powered construction platform, expand its teams, and scale operations in Saudi Arabia and beyond, aiming to improve risk management and decision-making in construction projects.
Egyptian q-commerce startup Rabbit has secured new funding to expand into Saudi Arabia, aiming to launch operations in Riyadh and Jeddah by Q3 2025. The company plans to establish micro-fulfillment centers, introduce a Saudi mobile app, and hire locally to tap into the growing demand for fast, reliable delivery services.
The UAE tech sector saw a remarkable rise in funding in Q1 2025, with $872 million raised, marking a 194% increase from the previous quarter. The shift to late-stage funding, sector specialization in fintech and enterprise, and Dubai’s dominant position highlight the maturation of the country’s tech ecosystem.
Rabbit, an Egyptian quick commerce startup, has secured new funding and expanded into Saudi Arabia by establishing a regional headquarters in Riyadh. The company aims to deliver 20 million items in major Saudi cities by 2026. Rabbit promises fast, 20-minute deliveries of groceries through its tech-driven dark store network.
Sadq, a Saudi platform for digital signatures and authentication solutions, has raised SAR 5.5 million in a Pre-Series A funding round led by X by Unifonic Fund. The investment will strengthen Sadq’s role in Saudi Arabia’s digital trust sector, aligning with the Kingdom’s digital transformation and regulatory advancements.
Moroccan startup PayTic has raised $4 million to expand into Africa, aiming to tap into the continent’s growing digital payments market. The company simplifies back-end processes like chargebacks for banks and card issuers and is well-positioned to leverage Africa’s rising internet penetration and financial inclusion rates.
