Nowlun, a digital freight forwarding platform in the MENA region, has raised $1.7 million in seed funding to fuel its expansion and technology development. The platform offers competitive ocean freight rates, real-time shipment tracking, and streamlined cargo management, revolutionizing the logistics industry with cutting-edge technology.
WorldLink Communications has secured a €10 million investment from Finnfund to expand its fiber broadband network and build a Tier 3 data center in Nepal. This investment will help bridge the digital divide, enhance connectivity, and contribute to the country’s digital transformation. WorldLink is also planning an IPO.
Sylndr, an Egypt-based online used car marketplace, has secured $7.5 million in capital financing to fuel its growth. The funding, facilitated by EFG Hermes, will support Sylndr’s mission to revolutionize Egypt’s automotive industry by offering more accessible financing options and expanding its inventory.
Jazz has invested over Rs33 billion in Pakistan’s digital ecosystem in 2024, focusing on sectors such as telecom, fintech, and data centers. These efforts have resulted in 25% revenue growth, strengthening its role in the country’s digital transformation. The company also contributes Rs97 billion to Pakistan’s national economy.
Ariika, an Egyptian home furnishing e-commerce startup, has raised $3 million in Series A extension funding, led by Beltone Venture Capital and Citadel International Holdings. The new capital will fuel its expansion in Saudi Arabia and Iraq, with Ariika poised for significant growth in the MENA home décor market.
Egypt’s mobile phone companies have invested $2 billion over three years to expand frequency spectrums, contributing to the country’s ICT sector, which has grown at over 16% annually. Egypt ranks first in Africa for fixed internet speed and has advanced significantly in AI and digital transformation readiness.
Arzan Venture Capital has partnered with Ahmad Takatkah to launch Revenya Capital, a revenue-based financing firm focused on empowering tech startups in MENA. With an initial investment of $2 million, Revenya Capital aims to provide flexible, non-dilutive financing, leveraging AI to offer short-term loans for high-growth startups.
Bahrain has attracted over $100 million in investments from Singapore across financial services, ICT, and tourism sectors. The Bahrain Economic Development Board highlighted this milestone at the Singapore Fintech Festival, showcasing Bahrain’s appeal as a business-friendly hub with advanced regulatory frameworks and a skilled workforce.
Egypt-based agritech startup Viridia Tech has been awarded the $100,000 grand prize at the 2024 Mega Green Accelerator in Saudi Arabia for its data analytics platform that enhances sustainable farming practices. The competition showcased innovative solutions to food security, clean energy, and the circular economy across the MENA region.
Bahrain has secured over $100 million in investments from Singapore firms across financial services, ICT, and tourism. Bahrain EDB’s strategic presence in Singapore and robust regulatory environment have attracted international companies, underscoring Bahrain’s position as a business-friendly hub for innovation and financial services in the Middle East.
