Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Morocco’s startup funding surged to nearly $95 million in 2024, driven by a few high-value deals and growing interest in TravelTech and FinTech. However, early-stage dominance, limited exits, and a funding gap risk stalling growth. Strategic support in late-stage funding, M&A, and emerging tech is essential to unlock Morocco’s next phase of innovation-led economic expansion.
Aria Ventures injects EGP 50M into Egypt’s Deep-Tech sector, combining capital and startup-building to fuel innovation in AI, biotech, IoT, and more.
Netaj has launched Nawat, Iraq’s first venture capital studio, to accelerate 40 startups through mentorship, product development, and funding. The program’s hybrid investment model supports promising ventures with both in-kind resources and capital, aiming to strengthen Iraq’s startup ecosystem.
Riyadh ranks 23rd globally in emerging startup ecosystems, thanks to strong government support, venture capital growth, and thriving tech sectors like AI and FinTech, reflecting Saudi Arabia’s Vision 2030 ambitions and regional innovation leadership.
Mohamed Al Hakim left a career in London to nurture Iraq’s digital startup ecosystem through EQIQ, a venture capital fund investing in fintech, e-commerce, logistics, and edtech. Despite regulatory challenges, Iraq’s improving stability and growing entrepreneurship scene offer promising prospects for diversifying the economy beyond oil.
Hub71 and Yas Investments partner to connect UAE family offices with startups via Tech Barza, boosting strategic investments, corporate deals, and mentorship to accelerate growth and innovation in Abu Dhabi’s tech ecosystem.
EQIQ doubles its venture fund to $30 million to fuel Iraq’s digital economy, focusing on e-commerce, logistics, and fintech. Founded by Mohamed Al-Hakim and Said Rahmani, the fund bridges capital gaps and nurtures tech startups with a vision to build sustainable, impactful businesses amid Iraq’s growing tech ecosystem.
Flat6Labs has partnered with Tamwilcom to accelerate the growth of Moroccan startups, focusing on sectors like AgriTech, FinTech, and AI. This collaboration, supported by the IFC, offers funding, mentorship, and business development to boost Morocco’s entrepreneurial ecosystem and foster innovation, digital transformation, and economic growth.
UAE tech startups raised $872 million in Q1 2025, a 194% increase from the previous year, driven by late-stage investments in sectors like enterprise applications, fintech, and retail. Dubai remains the dominant hub for venture capital, while acquisitions and high-value deals indicate the region’s growing tech maturity.
Yango Ventures, part of Yango Group, is supporting early-stage startups with an initial $20 million fund. The venture focuses on sectors like O2O, B2B SaaS, and FinTech, aiming to foster innovation and sustainable growth. The initiative also emphasizes digitalization and economic development in high-growth markets globally.