Entrepreneurship
1 day ago
“Mamo” has successfully closed a funding round of $3.4 million.
The Digital payment platform “Mamo,” based in the United Arab Emirates, has announced the closure of a $3.4 million funding round. Current investor “4DX Ventures” and Dubai Future Foundation participated in the recent financing round, with cybersecurity company “Cyber Capital” also joining as investors. Founded in 2019 by Asim Janjua, Imad Gharazeddine, and Mohammed Al Sadi, “Mamo” aims to assist small and medium-sized enterprises in streamlining payment collections, banking cards, and expense management processes. “Mamo” plans to utilize the new funding to enhance its platform to meet the financial operations requirements of small and medium enterprises in the UAE. Additionally,…
Economic and Investment
2 days ago
“Altakamul” acquires a 15% stake in the “Nabataty” platform.
The Saudi’s National Agriculture Company Altakamul, announces an agreement to acquire a 15% stake in the “Nabataty” platform, without disclosing the deal’s value. Established in 1984, the National Integration Agriculture Company is one of the pioneering companies in agricultural sector development, offering a range of agricultural services and products. “Nabataty,” founded in 2018, operates through its platform and online store, specializing in selling ornamental plants and accessories, as well as providing gifting solutions for companies and individuals. HRH Prince Saud bin Mohammed Al Abdullah Al Faisal, the CEO and Managing Director of the National Agriculture Company, stated, “This agreement is…
Economic and Investment
2 days ago
Zyp Technologies secures a $1.5 million funding round led by Shorooq Partners.
Pakistan-based electric vehicle company Zyp Technologies secures a Pre-Series A funding round led by Shorooq Partners. Current investor Indus Valley Capital doubles its investment in this round, joined by a group of angel investors. Founded in 2022 by Hassan Khan, Hassan Nasser, and Waqar Chughtai, Zyp specializes in manufacturing electric vehicles. Through this investment, Zyp will establish over 60 battery swapping stations and deploy 1,000 of its electric motorcycles (ZUM 2000) within the next 12 months to enable the launch of its smart electric mobility technologies in Lahore city. Omar Zabeer from Shorooq Partners stated, “Our investment in Zyp Technologies…
Entrepreneurship
4 days ago
OTO, successfully closes a Series A investment round worth $8 million.
Saudi-based logistics technology company OTO announces a successful Series A funding round, raising 30 million Saudi riyals (approximately $8 million). The round was led by Sanabil Investments and included participation from SEDCO Capital, Elmadenah Partners, Propelar, and Soma Capital. Founded in 2019 by Mohammed Al-Razaz and Farhan Azhar, OTO specializes in building an electronic shipping gateway. Their comprehensive unified technology platform assists e-commerce businesses and retailers in successfully shipping customer orders both domestically and internationally. OTO plans to utilize the funding round to expand into new target markets, including all Gulf Cooperation Council countries and Turkey by 2025. The company…
Entrepreneurship
4 days ago
Ogram, an HR tech company, raises funding led by Oraseya Capital.
UAE-based HR tech company Ogram announces successful funding round led by Oraseya Capital, the bold investment arm of Dubai’s Integrated Economic Zones Authority. Among the investors in the round are Aditum Investment Management and Everywhere VC. Founded in 2017 by Karim Ghoulty and Shafiq Khartabil, Ogram specializes in flexible recruiting solutions, offering an on-demand marketplace platform for hiring. The funding round aims to expand the company’s operations in Saudi Arabia, paving the way for future growth.
Economic and Investment
1 week ago
Saudi’s Wa’ed Ventures leads the $6.5 million pre-Series A funding round of aiXplain.
aiXplain, the leading provider of infrastructure to accelerate AI development, has announced a $6.5 million pre-Series A funding round led by Wa’ed Ventures. Prominent angel investors such as Osama Elkady, CEO and co-founder of Incorta, and global business expert Kane Minkus also participated in the round. Founded in 2020, aiXplain began as an innovation partner for institutions like the Saudi Data and Artificial Intelligence Authority (SDAIA) to accelerate AI innovation in the Arabian Gulf region. Hassan Sawaf, Founder and CEO of aiXplain and former AI Director at Meta, Amazon, and eBay, said, “Building AI solutions shouldn’t be limited to large…
