Talabat, the leading food and grocery delivery platform in the region, launched its IPO earlier this month on the Dubai Financial Market and announced its price range of AED 1.5 to 1.6 per share on Tuesday. The company will offer 3.49 billion shares, representing 15 percent of its total share capital, which implies a valuation ... Read more ›
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Dubai-based fintech Now Money has raised $7 million in a fund round led by Anthemis Exponential Ventures, it announced today. The round was also joined by Knuru Capital, Wamda, Commercial Bank of Dubai, DIFC FinTech Fund, Accion Venture Lab, Greenhouse Capital, and Hambro Perks’ Oryx Fund. Founded in 2016 by Ian Dillon and Katharine Budd, ... Read more ›
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In June 2017, Matt Hall and John Watkinson released 10,000 CryptoPunks, a set of tokenized 24×24 pixel art images built on top of Ethereum. Each Punk was unique and could be officially owned by only one person. Originally free and available for anyone to claim, the value of these tokens (or NFTs) has since exploded ... Read more ›
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Dubai-based cloud kitchen operator iKcon (Innovative Kitchen Concepts) has raised $20 million in a Series A, it announced today. The investment that came from Mohamed Yousuf Naghi Group, AlTouq Group, Derayah Ventures, B&Y Venture Partners, AbdulMohsin Al Houkair Holding Group, and Nazer Group, takes iKcon’s total raise to date to $32 million. Founded in 2019 ... Read more ›
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Dailymealz, a Riyadh-based food subscription app aimed at corporate employees has raised $2 million in Pre-Series A round led by Seedra Ventures, it told MENAbytes today. The round was also joined by some angel investors. Founded in late 2017 by Mohamed Elzalabany, Abdulrahman Ahmed, Abdallah Said, and Motaz AbuOnq, Dailymealz enables individuals to order food ... Read more ›
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Istanbul-headquartered ultrafast grocery delivery startup Getir has become a unicorn, tripling its valuation to $2.6 billion in less than two months with a $300 million Series C that’s co-led by Sequoia Capital and returning investor Tiger Global. With this valuation, Getir is now the most valuable startup in the Middle East, North Africa, Turkey & ... Read more ›
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Beirut-based podcast platform Podeo has raised an undisclosed amount of funding in a seed round led by Razor Capital, it announced today. The round was also joined by Globivest VC, and individuals in different media and technology companies. Founded in 2019 by Stefano Fallaha, Podeo is building the Netflix of Arabic podcasts. The startup aggregates ... Read more ›
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Riyadh-based fintech Hala (previously known as Halalah) has raised $6.5 million in a Series A round led by Impact46 (who invested through their growth fund). The round also included participation of Wamda and some other investors. Founded in 2018 by Esam Alnahdi and Maher Loubieh, Hala had started as one of the first mobile wallets ... Read more ›
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TechWadi, a non-profit organization that enables entrepreneurs in Silicon Valley and the Middle East & North Africa by offering them access to mentorship, acceleration, and investors through events, conferences, and different other programs, is organizing its flagship event, TechWadi Annual Forum, completely online for the first time this year. The event will be hosted on ... Read more ›
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Grubtech, a Dubai-based SaaS startup for cloud kitchens and ‘delivery-centric restaurants’ has raised $3.4 million in a Pre-Series A round, it announced today. The investment came from large regional family offices, a US-based VC firm, and some angel investors, said the startup in a statement without disclosing further details about the investors. The bridge round ... Read more ›
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Amman-based early-stage VC Propeller has concluded the first close of its second fund, Propeller Ventures II, it announced today. The fund has a target size of $15 million and aims to achieve the final close next year. The investors in the fund include Jordan’s Innovative Startups and SMEs Fund (ISSF), Capital Bank of Jordan. Beyond ... Read more ›
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Karachi-headquartered telemedicine startup Sehat Kahani has raised $1 million in a Pre-Series A round, it announced today. The investment came from Islamic Development Bank, 10Pearls Ventures, Mentors Fund, Singapore-based Korean Impact Fund, and Impact Investment Exchange. KASB Securities, Din Group, and some angels also joined the round Founded in 2017 by two female doctors, Sara ... Read more ›
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A few weeks ago, I wrote about the food delivery industry, analyzing the economics of food aggregators and how the industry’s recent changes could impact its stakeholders. Last week, I came across a letter from a restaurant owner to the Noon Food leadership, sharing their pain and asking them to reconsider their acquisition strategy, which ... Read more ›
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Ahmed Sabbah, the co-founder and Chief Technology Officer (CTO) of Swvl is leaving the company, he announced in a social media post on Monday. He had co-founded the transportation startup with Mostafa Kandil and Mahmoud Nouh in 2017 in Cairo. In these four years, Swvl has gone on to raise close to $90 million and ... Read more ›
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Riyadh-based fintech Lendo has raised $7.2 million in a Series A round led by Saudi’s Derayah Ventures, it announced in a statement today to MENAbytes. The equity-only round also includes participation of Seedra Ventures, Shorooq Partners, 500 Startups, and Impact46. Founded in 2019 by Osama AlRaee and Mohammad Jawabri, Lendo offers instant invoice financing to ... Read more ›
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NowPay, a Cairo-based financial wellness platform for employees has joined Y Combinator and raised fresh funds in a Pre-Series A round, it announced in a statement to MENAbytes today. It is part of Y Combinator’s ongoing Winter 2021 (YC W21) batch along with another Egyptian fintech Dayra. The investors in NowPay’s bridge round include Global ... Read more ›
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Cairo-based fintech Dayra has joined Y Combinator and raised $3 million in a pre-seed round that includes a mix of equity and debt financing, it told MENAbytes today. The round includes investment from Tanmiya Capital Ventures, EFG EV, EFG Hermes, and different angel investors. Dayra raised the majority of these funds last year and closed ... Read more ›
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Lahore-based ten-month-old remote talent startup Remotebase has raised $1.4 million in a seed round led by Pakistan-focused VC Indus Valley Capital (which closed its maiden fund with $17.5 million last week), it told MENAbytes today. Draper Associates, the VC firm of Tim Draper, US-based early-stage VC Hustle Fund, and some other investors also participated in ... Read more ›
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Cairo-based restaurant engagement platform Koinz has raised $4.8 million in a seed round, it announced in a statement today to MENAbytes. The round was led by Justin Mateen, the founder and former CMO of leading global dating app Tinder (who is joining Koinz board as a result of the transaction). He has been actively investing ... Read more ›
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Last week, Anghami became the first Arab technology company to announce that it’s going public through a listing on the Nasdaq (New York) later this year after merging with a SPAC. As part of the deal, the company is expected to receive anywhere between $40 million and $210 million in cash from the SPAC and ... Read more ›
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Anghami, the leading music streaming platform in the Middle East & North Africa is going public by merging with a special purpose acquisition company (SPAC). A SPAC is also known as a blank-cheque company and is formed to raise money through an IPO with the aim to buy an existing company and take it public. ... Read more ›
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27.11.2024 15:29
Last update: 15:21 EDT.
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