Eat App closes $11m Series B round aiming global expansion
Eat App, an internationally renowned restaurant reservations website with headquarters in Dubai, has announced today that its $11 million series B round has come to an end. MEVP, 500 Startups, Derayah VC, Dallah Albaraka, Ali Zaid Al Quraishi & Brothers Company, Rasameel Investment Company, and current investors are all participating in the round.
Dubai property investment startup Stake raises $8m in recent funding round
Dubai-based real estate FinTech start-up Stake has raised $8 million in an early stage funding round to drive its growth as regional investors flock to the stability of property investments amid volatile global markets. The pre-series A funding round was backed by Dubai-based venture capital firm Middle East Venture Partners (MEVP) and BY Ventures, along with returning investors Vivium Holding and Combined Growth Real Estate, said Stake on Tuesday.
Abu Dhabi-based The Cloud raises $10m in new funding round
A $10 million series A fundraising round has been secured by The Cloud, a virtual kitchen start-up situated in Hub71 in Abu Dhabi. The company plans to utilize the money to grow its operations throughout the GCC and Europe. The Rua Growth Fund of Saudi Arabia joined the investment round, which was led by Middle East Venture Partners (MEVP) of Dubai and Olayan Financing Company of Riyadh.
Abu Dhabi’s ADQ sets $200m fund for tech startups
Abu Dhabi, an oil-rich emirate, is intensifying its push into the technology industry by establishing a new $200 million fund to invest in early-stage firms. According to a statement, Further Ventures, which is supported by the sovereign wealth fund ADQ, will concentrate on supply chain, fintech, and digital asset investments.
Majid Al Futtaim Launchpad Accelerator Programme, in partnership with AstroLabs, announces SME and startup winners to join ecosystem
Dubai, United Arab Emirates, 23 September 2022: Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, has revealed 14 start-ups and SME winners to join its Launchpad accelerator programme across three categories, Homegrown, Health and Beauty, and Proptech. The successful companies will now receive unrivalled access to business growth incentives, mentorship programmes and the vast Majid Al Futtaim innovation ecosystem to strengthen their commercial viability across the region.
Accelerator hub D369 raising $1bln for start-ups in Web3 and metaverse
People can breathe a sigh of relief because Web3 offers a lot more advantages and benefits than its predecessor. When compared to conventional marketing and advertising strategies, Web 2.0 demanded newer modern-age technology, urging the users to have them in order to see the sites.
Abu Dhabi-based The Cloud raises $10m in new funding round
A $10 million series A fundraising round has been secured by The Cloud, a virtual kitchen start-up situated in Hub71 in Abu Dhabi. The company plans to utilize the money to grow its operations throughout the GCC and Europe. The Rua Growth Fund of Saudi Arabia joined the investment round, which was led by Middle East Venture Partners (MEVP) of Dubai and Olayan Financing Company of Riyadh.
Khalifa Fund launches 1st accelerator to help SMEs harness e-commerce
A program has been developed by the Khalifa Fund for Enterprise Development to help small and medium businesses use e-commerce technologies to expand their operations. According to the Abu Dhabi agency on Wednesday, the first-ever E-Commerce Acceleration Programme is a training program that will assist businesses in building their e-commerce platforms while receiving mentorship from industry professionals.
Qatar-based Sponix Tech receives investment from UK’s Aser Ventures
Astrategic investment in Sponix Tech, a sports technology business based in Doha, has been purchased by Aser Ventures. Mohammad Ali Abbaspour created Sponix in 2020, which creates ground-breaking software that increases fan interaction and opens up new revenue streams for sports rights holders, broadcasters, and advertisers.
UAE-based fintech startup Zywa raises $3m in latest round
Teenage-focused FinTech start-up Zywa raised $3 million in a new funding round, bringing its worth to more than Dh110 million ($30 million). Teenagers can get a prepaid card from the start-up, which is a part of Hub71, Abu Dhabi’s global tech ecosystem, and use an app to manage and save money.
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