Increased Investment in the MENA Tech Sector
Middle East and North Africa (MENA) startups continue to draw large sums of money, and the region’s changing tech scene is shaped by funding rounds and acquisitions. Businesses in e-commerce, fintech, automotive software, and artificial intelligence (AI) are raising money to grow, improve their technological prowess, and enter new markets.
Wa’ed Ventures Provides Ori with a Strategic Investment
Wa’ed Ventures, Saudi Aramco’s venture capital division, has made a strategic investment in Ori, a UK-based provider of AI cloud infrastructure. This transaction helps Ori’s expansion in the Middle East after it recently deployed Nvidia’s H200 chips, albeit the financial details are yet unknown.
In keeping with Saudi Arabia’s Vision 2030 ambition, Ori, which now operates in more than 20 locations around North America and Europe, intends to open a regional subsidiary in Riyadh. Wa’ed Ventures, a $500 million fund, has already made investments in real estate fintech company Stake and AI chipmaker Rebellions. Ori is getting up for a bigger investment round in 2025 after raising £140 million ($176.8 million) lately.
Dubizzle Expands Regional Presence by Purchasing Egypt’s Hatla2ee
For an undisclosed amount, the UAE-based online classifieds behemoth Dubizzle Group purchased the Egyptian online automobile marketplace Hatla2ee. By incorporating Hatla2ee’s resources and technology into its platform, this action expands Dubizzle’s presence in the area.
Hatla2ee, which was founded in 2016 by Samy Swellam, makes it easier to buy and sell new and old automobiles in Egypt. Founded in 2005, Dubizzle runs several classified platforms, such as Drive Arabia, Bayut, and Dubizzle. This deal comes after Dubizzle acquired Drive Arabia, an automotive media platform based in the United Arab Emirates, in May 2024.
$10 Million Secured by MANSA for Cross-Border Payments
MANSA, a fintech business, has raised $10 million to improve cross-border payment liquidity solutions. A $3 million pre-seed round led by Tether and co-led by Polymorphic Capital is part of the funding, with Octerra Capital, Faculty Group, and Trive Digital also contributing.
Additionally, MANSA obtained $7 million in liquidity capital from quantitative funds and corporate investors. The startup, which was co-founded by Mouloukou Sanoh and Nkiru Uwaje, uses stablecoins to maximise liquidity management for international payment providers. With a 574 percent increase in on-chain volume between August and January 2025, MANSA has completed $27 million in transactions since its August launch. The growth of MANSA into Southeast Asia and Latin America will be spearheaded by this fresh financing.
For AI Business Solutions, Qme Raises $3 Million
AHOY and a group of angel investors from the Gulf Cooperation Council led the $3 million seed fundraising round for Qme, a B2B SaaS firm based in Egypt.
Qme, which was founded in 2022 by Maged Negm, offers organisations AI-driven digital infrastructure, including as payment, analytics, booking, and queuing systems. The new investment will support partnerships, broaden market reach, and improve technology.
Blum of the UAE Gets $5 Million in Seed Capital
Gumi Cryptos Capital, Spartan, No Limit Holdings, YZi Labs, and OKX Ventures led a $5 million pre-seed and seed fundraising round for Blum, a decentralised exchange situated in the United Arab Emirates.
Blum, which was founded in 2024 by Gleb Kostarev and Vladimir Smerkis, uses a Telegram mini-app to gamify token trading. The money will be utilised to enhance trade capabilities, build the platform’s infrastructure, and facilitate growth across several blockchain networks.
Dabchy Gets Pre-Series A Funding to Grow
In a pre-Series A investment round headed by Janngo Capital and angel investors, the Tunisian peer-to-peer fashion marketplace Dabchy has raised an unknown sum.
Dabchy, an online marketplace for used clothing, was founded in 2016 by Ameni Mansouri, Ghazi Ketata, and Oussama Mahjoub. With the new funding, the business will be able to diversify its product line, improve its platform, and enter the Egyptian market.
The Box Gets $12.5 Million to Expand Storage
Shorooq Partners has provided $12.5 million in debt financing to The Box, a self-storage company based in the United Arab Emirates.
Wadih Haddad founded The Box in 2007 and provides relocation, document management, and personal storage services. The company will be able to set up flagship locations and increase the size of its storage facilities thanks to this cash.
Palm Ventures Closes an Early-Stage Fund of $30 Million
A $30 million fund has been closed by MENA-focused investment firm Palm Ventures to assist early-stage businesses in the area, with a part going to AI ventures based in the US.
In order to promote innovation, Palm Ventures has partnered with government organisations and invested in 40 businesses since its establishment in 2014. It made investments in 20 AI businesses in the US and MENA between 2020 and 2024. To promote digital transformation, the new fund will concentrate on fintech, AI, and business solutions.
Pinewood Pays $42 Million to Purchase 90.9% of Seez
For almost $42 million, Pinewood Technologies PLC purchased a 90.9% share in Seez, an automobile software as a service platform based in the United Arab Emirates.
The acquisition, which is anticipated to completion by March 19, 2025, will be funded by a mix of newly issued shares and cash. Seez, which specialises in AI-powered automotive solutions, improves omnichannel and e-commerce capabilities. Pinewood wants to lessen its dependency on outside AI licensing by utilising Seez’s technology to enhance internal agency management systems. By fiscal year 2026, the purchase should be earnings-accretive.
Golden Gate Ventures and the Oman Investment Authority Collaborate
To strengthen Oman’s startup environment, the Oman Investment Authority (OIA) has teamed up with Golden Gate Ventures, a Singaporean venture capital firm.
OIA has joined Golden Gate Ventures’ new $100 million fund as a limited partner through Innovation Development Oman, its technology division. This is the company’s first significant venture capital project in the Middle East and North Africa. In addition to giving companies access to capital, knowledge, and markets, the collaboration aims to draw in foreign investment into Oman’s technology industry.
Algerie Telecom Opens an AI Startup Fund with $11 Million
Algerie Telecom, Algeria’s state-owned telecom provider, has revealed a $11 million fund to assist entrepreneurs in robotics, AI, and cybersecurity.
This effort, which was unveiled at the third Algerian CTO Forum, is in line with the nation’s national AI and digital transformation agenda. In order to improve Algeria’s tech scene, the fund seeks to create 20,000 businesses while supporting AI colleges, incubators, and digital infrastructure.
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