Aramco launches Taleed program to accelerate SME growth in Saudi Arabia
Aramco announced the launch of a new program, “Taleed”, which aims to accelerate the growth of Small and Medium Enterprises (SMEs) in Saudi Arabia — helping boost their contribution to economic development and support job creation.
The program targets sustainable SME growth across multiple sectors through a portfolio of 20 initiatives, providing a wide range of support from capability building and strategy development to training, market access, advisory services and business planning.
ArabyAds acquires influencer marketing indaHash
IndaHash, an influencer marketing platform, has been bought by ArabyAds, an AdTech business in the MENA area. The purchase closely follows ArabyAds’ most recent $30 million Pre Series B funding round, which was headed by AfricInvest and was intended for worldwide expansion and acquisitions, according to the business.
HUB71, GetFundedAfrica to increase international expansion, fundraising support for startups
An extensive relationship between Hub71, the global innovation hub of Abu Dhabi, and GetFundedAfrica, a digital-enabled marketplace that connects entrepreneurs with investors (VCs & Angels), businesses, and the government to help the growth of innovative companies, has been announced.
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.
Saudi-based ZenHR concludes $10m funding round aiming MENA expansion
ZenHR, a Saudi Arabian startup in human resource technology, has raised $10 million to expand its operations throughout the Middle East and North Africa. According to the Riyadh-based company, Rua Growth Fund of Saudi Arabia spearheaded the investment round, which also included Endeavor Catalyst of the US and other current investors.
e& launches new $250m VC fund to support tech startups
A $250 million venture capital fund was formed by UAE telecom and technology giant e& (formerly known as Etisalat Group) as a part of its new investment division, e& capital, to promote the ecosystem for digital start-ups. The business stated in a statement that the e& Capital VC fund will endeavor to draw in, engage, and promote start-ups and provide them access to investor and expert networks.
Arada raises $100m to fund growth plans
After drawing on a $350 million sukuk that had already been issued and traded on the London Stock Exchange in June, Sharjah real estate developer Arada finalized a deal for a $100 million Islamic bond. According to the company’s announcement, the investor yield on the sukuk tap was 8.386 percent and the price was 99 cents on the dollar.
Abu Dhabi’s IHC launches $2.1bn bid to acquire stake in Grupo Nutresa
In an effort to diversify its holdings in South America, International Holding Company has made a Dh7.7 billion ($2.1 billion) tender offer to acquire a stake in Grupo Nutresa, one of Colombia’s largest food processing firms.
The bid launched through IHC Capital, a subsidiary of IHC, follows the formal approval for the deal from the Colombian Superintendency of Finance, IHC said in a statement to the Abu Dhabi Securities Exchange, where its shares are traded.
