Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Thndr raised $15.7 million led by Prosus to expand its digital investment platform across MENA, focusing on the UAE and Saudi Arabia. The Cairo-based fintech leads retail investing in Egypt, onboarding 82% of new EGX investors and growing female participation. The funding supports regional growth and financial inclusion efforts.
Egypt’s mobile operators have invested $2.7 billion in 5G licenses since 2019, highlighting confidence in Egypt’s digital growth. The 5G Technology Forum in Cairo united global stakeholders to discuss accelerating deployment, smart infrastructure, and Egypt’s role as a regional digital innovation hub.
Nawy has secured $75 million in funding to fuel its expansion across MENA and elevate its tech-driven real estate services. With an AI-first approach and new market expansion plans, the company is poised to transform the real estate industry in Africa and the Middle East.
MedIQ, a health tech platform based in Pakistan, raised $6 million in Series A funding to expand its operations across the GCC. With the backing of Rasmal Ventures and Joa Capital, MedIQ aims to strengthen its tech stack and scale in Saudi Arabia, Qatar, and neighboring markets.
Startup Bangladesh Limited has invested in Shikho, an EdTech startup, to accelerate the adoption of AI-driven learning tools in Bangladesh. With over $8 million in total funding, the collaboration aims to scale access to quality education across urban and rural areas, fostering an inclusive, mobile-first learning experience.
ITHCA Group has partnered with US-based Lumotive to strengthen Oman’s semiconductor industry. The investment focuses on establishing a centre of excellence for semiconductor design, fostering research, skills development, and knowledge transfer. Lumotive, backed by prominent investors, is recognized for its innovative technology in optical semiconductors.
iSUPPLY has secured $3 million in Sharia-compliant, revenue-based financing from Bokra to scale operations and expand access to medical supplies in Egypt. This funding supports the platform’s mission to improve supply chain efficiency using AI, helping to overcome long-standing healthcare distribution challenges in underserved areas.
MedIQ, a Pakistan-based health tech startup, raised $6 million in Series A funding led by Rasmal Ventures and Joa Capital. The funds will support its expansion into Saudi Arabia, Qatar, and the Gulf region, aiming to transform healthcare through digital solutions. MedIQ’s total funding now stands at $9.8 million.
MoneyFellows, an Egyptian fintech, raised $13 million in a pre-Series C funding round to expand its digital platform for money circles. The platform allows users to save and borrow together using a mobile-based system, expanding beyond traditional groups. The company now has 8.5 million users and has reached profitability.
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.