Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Taager, a leading social e-commerce platform in the MENA region, has raised $6.75 million in pre-Series B funding to expand its offerings. The funding will help the company scale its operations, provide better tools and insights for social sellers, and grow its presence across the MENA region.
Salesforce has announced a $500 million investment in Saudi Arabia, focusing on AI adoption, workforce development, and expanding its regional presence. The investment includes bringing Hyperforce and Agentforce to the Kingdom, upskilling 30,000 citizens in AI, and partnering with Princess Nourah University to empower women in the digital economy.
ToumAI, an AI-powered SaaS startup, secured €1 million in pre-seed funding to expand globally and enhance its personalized CX solutions. With a unique Compound AI architecture, the company focuses on multilingual and emotional complexities in customer relations. ToumAI aims to scale across Africa and beyond, prioritizing sustainability.
Omani climate tech startup 44.01 has raised an additional $5 million in Series A funding, bringing the total to $42 million. The company focuses on CO2 mineralisation, offering a scalable, cost-effective solution for carbon capture. Investors include Nysnø Climate Investments and Jasoor Ventures, among others.
Smpl Fund I has invested USD 250K in multiple AI and tech companies within the Qora71 portfolio, supporting the growth of the MENA tech ecosystem. The USD 10 million venture fund aims to foster AI innovation and provide seed capital to emerging startups in the region.
Kamel Al-Wazir, Egypt’s Deputy Prime Minister, toured key industrial factories in 10th of Ramadan and Badr cities. He inaugurated the Elsewedy Telecom Cables Factory, visited Utopia Pharmaceuticals, and reviewed Schneider Electric’s facility. These visits highlight Egypt’s commitment to boosting local production and export capacities in telecommunications, pharmaceuticals, and electrical industries.
vminds.ai, a Saudi-based AI startup, has raised a six-figure pre-seed funding round to launch its platform for individuals and businesses. The company aggregates over 150 AI tools and is affiliated with Microsoft and NVIDIA. It aims to expand regionally and globally through partnerships and strategic growth initiatives.
Khazna, an Egyptian fintech startup, has raised $16 million in pre-Series B funding, bringing its total funding to over $63 million. The company provides financial services like salary advances and microloans to low-income workers. It plans to expand into Saudi Arabia and apply for a digital banking license in Egypt.
Foundation Ventures, a Cairo-based venture capital firm, has secured the first close of its $25 million fund, “FVFII.” The fund will support startups in Egypt and Africa, focusing on driving innovation, regional expansion, and global competitiveness. Investors include the Egyptian American Enterprise Fund and MSMEDA.
ITIDA and Concentrix have signed a $1 billion MoU to enhance Egypt’s outsourcing industry. The partnership aims to create 16,000 jobs, expand Concentrix’s workforce to 35,000 by 2028, and strengthen Egypt’s position as a global outsourcing hub. This expansion reflects Egypt’s growing role in the digital economy.