Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
FuturePlay has become the first Korean VC to partner with Saudi Arabia’s Ministry of Investment, supporting Korean startup expansion into the Kingdom and enabling joint investments in AI, fintech, and deep-tech fields. The partnership aligns with Vision 2030 and strengthens Korea–Saudi innovation ties as both nations accelerate cross-border tech collaboration.
Sri Lanka’s AI startup ecosystem boasts world-class talent but struggles with scaling due to funding gaps, outdated policies, and limited digital adoption. Industry leaders urge urgent reforms, aggressive VC funding, and stronger collaboration to unlock the country’s potential to build a $15 billion digital economy.
Avanz Capital Egypt has joined Algebra Ventures’ second fund as a Limited Partner via a landmark secondary transaction, underscoring confidence in Egypt’s VC ecosystem. The partnership strengthens support for tech startups in Egypt and Africa, enabling greater capital inflows and deeper collaboration to fuel entrepreneurial growth.
Figure AI has raised over $1 billion in Series C funding, reaching a $39 billion valuation. The round, led by Parkway and supported by Brookfield, NVIDIA, Salesforce, Intel, and others, highlights growing global confidence in humanoid robotics. Arcapita’s role underscores regional investors’ leadership in frontier AI technologies.
Sarat Ventures Y Innovations Biotech Fund has launched a $50M initiative to back early-stage biotech companies targeting Saudi Arabia and the MENA region. Anchored by Allocator One, the fund aligns with Vision 2030, aiming to fuel life sciences growth, attract global talent, and advance transformative therapies.
Spoilz, a Saudi gaming studio, has secured investment from Merak Capital, Impact46, and others to expand development and LiveOps services. The funding will strengthen its pipeline of culturally relevant, globally scalable mobile games while supporting Saudi Arabia’s Vision 2030 goal of becoming a global gaming hub.
MENA startup funding hit $783M in July 2025, surpassing last year’s total in just seven months. Saudi Arabia and the UAE dominated with two unicorns—Ninja and XPANCEO—while Iraq and Morocco surprised with breakout deals. Deeptech and e-commerce led sector growth, but the gender funding gap remains severe.
Kammelna’s $53M funding marks a major boost for Saudi Arabia’s gaming ambitions. With over 6M downloads and 1M monthly users, the studio will now scale its culturally inspired portfolio under Vision 2030, as Impact46 positions it as a flagship for Saudi talent, digital culture, and global expansion.
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.