Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
LoftyInc Capital Management has raised $43 million for its LoftyInc Alpha Fund, aimed at late-seed investments in African tech startups. The fund will focus on key markets like Nigeria, Egypt, and Kenya, supporting sectors such as financial services, AI, and healthcare to foster innovation and scalable growth in Africa.
Disrupt.com, a UAE-based venture builder founded by the Gadit brothers, has committed $100 million to drive innovation in AI, cybersecurity, Web 3.0, automotive technology, and retail. Despite a global decline in VC funding, Disrupt.com aims to empower startups with strong organic growth potential, focusing on industries shaping the future.
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.
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.
Wa’ed Ventures and Sumitomo have invested $30 million in Zension Technologies, a Riyadh-based startup offering a tech subscription model. The new funding will help launch Zaam, a platform for tech subscriptions in the UAE and Saudi Arabia, aiming to extend device lifespans and reduce e-waste in the region.
The Arewa Tech Fest introduces a $50 million Arewa Tech Fund to support innovation in Northern Nigeria. This initiative aims to empower young entrepreneurs and stimulate economic growth by providing necessary capital, amidst a global downturn in tech investments.