UAE’s Cercli has announced the raising of $4M in a seed funding round led by Afore Capital, with participation from COTU Ventures, Y Combinator, Rebel Fund, alongside investors from Kitobi, Careem, Ramp, Rappi, Rippling, Oyster, and others.
Why it Matters? New HR and teams management platform in the MENA region.
More to Know:
- Cercli was founded by Akeed Azmi and David Reche, in 2023.
- Its platform provides solutions to manage employees, resources and payroll for companies in the MENA region.
- The founders previously scaled and managed teams in Kitopi and Careem.
- This is the first Afore Capital’s investment in the MENA Region.
- Cercli said it had paid over $23 million in client employee salaries across 31 countries.
- The funds will be used to help the company grow and hire more talent.
Palm Ventures, a Saudi-based VC, has announced the initial closing of its $30M Palm Ventures Fund I.
More to Know:
- The fund focuses on early-stage startups in the region and will allocate a portion of its investments to artificial intelligence (AI) opportunities in the United States.
- It aims to invest across various sectors, with a particular emphasis on artificial intelligence, fintech, and B2B.
- Since 2020, the company has invested in 20 startups across the Middle East, North Africa, and the United States.
- Its portfolio includes investments in companies such as FIFOplus, Nearpay, Erad, and Mala.
- The fund is backed by over 40 investors and advisors, including CEOs, entrepreneurs, experts, and consultants.
Related comments:
- General Partner and Fund Manager, Redwan Abudawood, stated: “Palm Ventures is not just a fund; it marks the beginning of a movement. As entrepreneurs and specialists in digital transformation, we will continue to invest in and support entrepreneurs and future technology leaders. The innovation ecosystem in the region is at a turning point, and we are excited to be part of it.”
MealPlanet, a UAE-based food tech platform, has closed a $6 million seed round led by Middle East Venture Partners (MEVP), AlTouq Group, Sanabil 500, Faith Capital, and Alturki Ventures, as well as renowned entrepreneurs Marc Lore and Samih Toukan.
Why it Matters? The growing interest in healthy meals subscriptions in the region is fueling investor interest in the food technology sector.
More to Know:
- MealPlanet was founded at the beginning of 2024.
- It connects the consumers with a wide range of brands allowing them to discover, subscribe to and manage their healthy meal plans.
- The funds will be used to propel its regional expansion plans, starting with Saudi Arabia in the first quarter of 2025.
- MealPlanet’s revenues come from charging providers a commission fee based on their monthly sales through its platform.
- Khalid Baareh, the founder of MealPlanet, has previously co-founded a cloud kitchen platform, iKcon, which was acquired by US’s REEF technology.
The Saudi-based e-commerce platform, Taager, has announced the closing of a $6.75 Million Pre-Series B Investment Round led by Norrsken22، with participation from Endeavor Catalyst, Beltone VC, Raed Ventures, 4DX Ventures, BECO Capital, and Breyer Capital.
More to Know:
- Founded by Mohammed Elhorishy Abdelrahman Sherief, Ahmed Ismail, and Ismail Omar, in 2019.
- It was launched in Egypt, and is now headquartered in Saudi Arabia.
- Taager is an e-commerce platform that enables users to start selling online.
- The company currently operates in Saudi Arabia, Egypt, the UAE, and Iraq, and will use the funds to expand in the MENA region.
Afaq Capital, the Saudi fintech company, has announced the acquisition of a Venture Capital Portfolio.
More to Know:
- Afaq said that the deal was structured and managed by Cotyledon For Management Consultancy.
- According to the company, this marks the first transaction of its kind in Saudi Arabia where a fintech company acquires a venture capital portfolio.
- The deal is expected to facilitate capital recycling, stimulate the launch of new funds, and create fresh exit opportunities for investors in Saudi Arabia.
- Afaq Capital is licensed by the CMA and offers investment opportunities, including sukuk, investment funds, and others.
With the beginning of 2024, the Saudi venture building studio, BIM Ventures, launches its new company, SKYNA, based in Riyadh. SKYNA’s platform enables customers to easily access a luxury selection of private jets, allowing them to book confidently and securely for a unique journey.
Turkish crypto exchange Paribu has announced the acquisition of Bahrain-based CoinMENA in a transaction valued at over $240 million, marking the largest deal to date…
Saudi social media platform, Mush Social, has revealed its acquisition of Pubbles. The value was not disclosed.
More to Know:
- Mush Social is a social networking platform offering features such as real-time location-based discovery, automatic translation in 15 languages, and an immersive 3D map. It was founded by Abdulhadi AlAsmi Mush in Riyadh in 2022.
- Pubbles was launched in 2020 by Abdulrahman AlMadani, and allows users to build specialized and interactive virtual communities.
- Previously, Pubbles participated in the TAQADAM Accelerator of King Abdullah University of Science and Technology (KAUST), and also participated in the Misk Launchpad program.
- Mush Social said that technical integration between the two platforms is set to begin within the next 3 months.
- In November 2024, Mush Social announced it had closed a $1.2 million pre-seed investment round.
Related Comments:
- Abdulrahman Almadani, founder of Pubbles, stated: “This step marks a pivotal moment in our journey. Since launching this project, my goal has been to deliver real value to users and help them build more interactive and human-centric communication experiences. Having a leading company like Mush Social acquire Pubbles and believe in its technical vision is a tremendous honor. I am confident this acquisition will elevate the project to an entirely new level while maintaining its focus on innovation and the technical excellence that has always been at the core of Pubbles. I thank everyone who supported us on this journey and look forward with enthusiasm to what Pubbles can achieve in the future under this acquisition.”
- Abdulhadi Alasmi, CEO of Mush Social, said: “This acquisition is not merely a technical step but the establishment of a new culture, one that empowers strong companies to unite and collaborate in building a digital ecosystem that fosters constructive communication and aligns with user aspirations. Through this deal, we aim to integrate Pubbles’ strengths, including its early-mover advantage as a social platform, its exceptional user base, and its impressive technological advancements.”
Unipal, a Bahraini Startup, has announced that it has closed a Pre-Series A funding round led by Plus VC, with participation from AlJazira Capital, RZM Investment, Falak Angels, Doha Tech Angels, and other angel investors. The value was not disclosed.
More to Know:
- Unipal was founded in 2020 by Ali AlAlawi and Ali AlShaer in Bahrain.
- It expanded its operation to Riyadh the capital of Saudi Arabia less than a year ago.
- The new funds will be used to accelerate its expansion in Saudi Arabia.
- Its solutions focus on connecting brands with young people, especially students, by providing them with the latest offerings.
Saudi Arabia’s CQR, a cybersecurity startup, has secured $3 million investment round led by UAE-based Shorooq.
More to Know:
- Nasser Al-Dossary founded CQR in 2023
- CQR provides cyber solutions, dedicated to securing and fortifying Operational technology (OT) infrastructure.
- Its flagship product uses AI for instant threat detection and response tailored to OT environments, and seamless integration with existing systems.
- CQR said that the funds will allow it to scale its cybersecurity solutions and expand its presence across the MENA region.
Related Comments:
- Naser Aldossary, CQR CEO and Founder commented: “Cyber threats in OT environments are evolving rapidly, and traditional security models are no longer enough. At CQR, we are reengineering cybersecurity for industrial operations—building innovative, product-driven solutions that make OT security accessible, efficient, and highly scalable. This investment will accelerate our ability to scale, expand our AI capabilities, and ensure that industries dependent on OT systems remain resilient against emerging threats.”
- Yousef Albabtain, Partner at Shorooq, said “Our investment in CQR aligns with our vision to support transformative technology companies that address critical industry challenges,” he added “CQR’s product-driven cybersecurity approach is disrupting a traditionally service-heavy industry, making OT security more accessible, efficient, and scalable. We believe their solutions will become an industry standard, and we are excited to support their growth.”
Buildnow, Saudi’s “Build Now Pay Later” (BNPL) company, has raised $9.7 million in a combination of debt and non-dilutive equity financing round led by Arbah Capital, with participation from STV through the NICE product.
Why it Matters? Buildnow also partnered with Joa Capital to launch the $80 million “Joa Infrastructure Fund I”
More to Know:
- Buildnow was founded in 2022 by Hisham Al Saleh, Rahat Dewan, and Abdulla Sheikh.
- This investment will enable Buildnow to expand its offerings and empower small and medium-sized enterprises (SMEs) in the construction sector.
- The round raised the total funding Buildnow has raised to date to $20 million.
- “Joa Infrastructure Fund I” will be focusing on the construction sectors.
Flex League, a sports tech platform based in Saudi Arabia, has told Zero to One that it has secured a Seed round from the Professional Tennis Academy, Vamos Tennis, and PAD-L Group. (The startup asked not to disclose the value).
More to Know:
- Flex League was founded in 2023 by Ibrahim Akeel, Faisal Sindi, and Mazen Madani.
- It is a platform that enables players to join competitions, book courts, and track their progress.
- The funding will be used to launch a full court booking and match organization system.
- The round will also support hiring and expansion into key Saudi and regional cities.
- In addition to capital, Flex will gain direct access to venues and communities of Vamos Tennis Academy and PAD-L Group.
RasMal, a Saudi-based fintech startup, closed a $4.8 million (18 million SAR) Pre-Series A investment round led by Syndicate Element Holding Group (SHG).
More to Know:
- Nasser AlTamimi, Basil AlKuraya, and Salem Aljawini founded RasMal in 2019.
- RasMal’s platform provides digital solutions to help private companies automate cap table management, fundraising, and equity transfers, while also supporting investors and private funds in managing investment opportunities and investor relations.
- The investment aims to introduce new tools and services to streamline fundraising processes and equity transfers.
- Last year, RasMal fully acquired Pentugram platform which provides deal flow management and investor reporting/relations tools for venture capital funds, angel investors, incubators, and accelerators.
- RasMal is part of the Saudi Unicorns Program, launched by the Misk Foundation, the Ministry of Communications and Information Technology, and the National Technology Development Program in Saudi Arabia.
Related Comments:
- Mohammed Abdullah, CEO of SHG, stated: “Our investment in RasMal is a significant step toward empowering startups and investors through AI-driven financial governance. By integrating RasMal’s automated cap table management with our investment expertise, we are creating a more transparent and efficient investment ecosystem.”
- Nasser Al-Tamimi, Co-Founder of RasMal, commented: “This investment reflects our commitment to empowering startups and investors with innovative technological solutions that enhance the efficiency of cap table management and investment governance. Through our partnership with SHG, we will accelerate the adoption of automation in fundraising and equity transfers, adding significant value to the investment ecosystem in the region. We believe that fintech is the key to advancing the business and investment sector, and we will work with our strategic partners to drive a digital transformation that aligns with Saudi Vision 2030.”
Latest News
More to Know:
– Nabt provides a marketplace connecting farmers with commercial buyers
– It operates from a central warehouse hub, managing order fulfillment, sorting, and temperature-controlled logistics through to final delivery
– It recently launched the Nabt Auction to facilitate large-scale produce trading across the Kingdom, and Nabt Intel, which delivers real-time price and market-demand intelligence
– The company previously raised $1.5 million in its Seed round led by Merak – Founded by Abdullah Alotaibi in 2022.
- Mahmoud Qandeel
The UAE-based startup Reno raised $4 million led by MENA 500, Hub71, Plus VC, Zero 100 VC, Flyer One Ventures, Sandstorm VC, AngelSpark, and Swiss Founders Fund.
More to Know:
– Reno focuses on “Renovate Now, Pay Later” solutions in the home and building renovation management sector – It provides a system that integrates design solutions, project management, contractor oversight, and financing options
– The funding is a mix of equity and debt, and will be used to launch its application in early 2026 and expand into GCC markets
– Founded by Marc Michel, Amr Hosny, and Farah Karabeg in 2024
- Mahmoud Qandeel
More to Know:
– It utilizes the chain-of-thought (CoT) prompting technique to explain the specific decisions a vehicle makes while driving
– It processes data captured by the vehicle’s sensors and transforms these observations into a clear, human-readable narrative explaining the reasoning used to navigate road challenges and choose the correct path
– The model tackles a critical safety gap in today’s autonomous driving systems: they cannot clearly explain the mechanisms behind their split-second decisions
– NVIDIA developed this model on its Cosmos Reason platform, initially released earlier this year (2025)
- Mahmoud Qandeel
UAE-based startup funch has secured a $500K pre-seed funding round led by angel investors including Angel Spark, 5inDubai, Mustafa Qandil and others.
More to Know:
– funch offers an AI-powered lunch service through its app, priced at AED 19, with a flexible confirmation system that reduces waste and minimizes daily decision fatigue
– The investment will be used to build a fully integrated lunch infrastructure across the region and to achieve its goal of one million meals by Q2 2026.
funch was founded in Dubai in 2025 by Ahmad Joehnny and Ghada Zanaty.
- Mahmoud Qandeel
The Q1 2025 ended with increased value and announced VC deals in the Middle East, surpassing $475 million across 85 deals.
This report provides an overview of the venture capital and startup landscape in the MENA region, featuring a comprehensive analysis of the deals, startups, investors, and key sector trends during the first three months of the year — with a particular focus on the Saudi Arabia market.
Explore the full details in the report (here)
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Shorooq Partners has led a $2.6 million seed funding round for US-based Corgea, with the participation from Y Combinator, Propeller, Decacorn Capital, Unbound Ventures, and a number of angel investors including Jawad Karim, Y Ventures, and Sam Qasouma.
More to Know:
- Corgea was founded in 2023 by Ahmed Saad Eldin.
- It uses AI to tackle challenges in modern cybersecurity.
- It helps in automating the detection, triaging, and remediation of vulnerabilities in source-code, including complex logic bugs.
- The company will use the funding to expand its operations within the United States and the Middle East.
Related Comments:
- Tamer Azer, partner at Shorooq, commented on the investment: “Cybersecurity is one of the fastest-growing sectors globally, but it’s also one of the most under-invested in the Middle East” he added: “Ahmad and his team are addressing an urgent need for businesses to secure their applications in an increasingly complex global and regional cyber landscape, and we are thrilled to support them in scaling this game-changing solution.”
- “At Corgea, we believe that the future of cybersecurity lies in AI-driven automation and a powerful developer experience. Our platform is designed to seamlessly integrate with existing developer and security workflows, automating the detection of what was previously undetected and fixing of vulnerabilities at a speed and scale that simply wasn’t possible before. This funding enables us to expand our reach, accelerate product development, and continue driving the innovation that enterprises need to stay ahead of ever-evolving cyber threats.” said Ahmed Saad Eldin, Founder and CEO of Corgea.
Bahrain-based cake ordering platform, Lola, has closed a $1.3 million Pre-Seed funding round backed by Vision Ventures, Plus VC, and angel investors.
More to Know:
- Lola was founded by Othman Janahi in 2023.
- It offers a customizable cake ordering service through its app.
- Last year, it expanded to Saudi Arabia and the UAE after launching in Bahrain in 2023.
- The funds will be used to enhance its platform, strengthen its presence in Saudi Arabia, and accelerate expansion across the other GCC countries.
An alliance of investors and GCC-based family offices launched Waad Investment, an investment firm with a targeted value of SAR750 million ($200 million) dedicated to supporting growth-stage startups. The alliance is led by investor Yaser AlGhamdi, the founder and Chief Investment Operations Officer of Waad Investment, in collaboration with the AlMajed and AlMisfer family offices.
Why it Matters? The alliance fosters the role of the private sector in supporting the startup’s ecosystem and providing more funding sources to startups.
More to Know:
- The alliance is led by investor Yaser AlGhamdi, the founder and Chief Investment Operations Officer of Waad Investment.
- Several family offices from GCC backed the firm, including AlMajed and AlMisfer.
- The alliance said that Waad Investment emerged from an initiative to foster the role of the private sector in driving innovation and economic development in the region.
Related Comments:
- Yaser AlGhamdi, the founder and Chief Investment Operations Officer, eloquently expressed his optimism about the future of startups in the region, emphasizing the importance of collaborating between public and private sectors to achieve comprehensive development. He stated, “The company will bridge the financial gap many startups face and offer comprehensive support that includes financial investment, mentorship, and guidance.”
- Nasser AlMajed, Managing Director and CEO of Waad Investment commented, “The alliance aims to change the rules of how family offices invest in startups, and to reassure the entrepreneurial ecosystem that family offices possess the expertise in exit strategies, IPOs, and financial solvency to lead the tech scene”.
Mala, a Saudi-based fintech platform, has raised $7 million in a Pre-Seed funding round led by VentureSouq, with participation from Waad Investment, Shorooq Partners, Palm Ventures, BECO Capital, Access Bridge Ventures, M Capital and DGV.
Why it Matters? Another startup in Saudi Arabia provides procurement and credit solutions but with a different model.
More to Know:
- Mala was founded in 2024 by Musaab Hakami.
- The startup provides a B2B “Procure-Now, Pay-Later” solution.
- Mala’s official launch of the platform is expected in Q4 2024.
- The funds will be used in hiring talents and marketing.
- Musaab Hakami is a partner in VentureSouq, which led the round.
Invygo, a car subscription platform, has announced the raising of $8 million in a Series A extension by STV, with participation from AlRajhi Partners, AB Ventures, SPV, MEVP, and C5.
Why it Matters? Invygo is expected to be profitable by the end of the year.
More to Know:
- Invygo was founded in 2019 by Eslam Hussein and Pulkit Ganjoo in the UAE and then moved its headquarters to Saudi Arabia.
- The company provides car rental solutions through subscriptions; the most prominent of which is the subscribe to Own model, particularly in Saudi Arabia..
- The investment came through the NICE model recently developed by STV.
- The company’s Series A round reached $18 million, having raised $10 million in 2022.
- Since its inception, Invygo has raised over $22 million.
Related Comments:
- Eslam Hussein, co-founder and CEO of Invygo, said: “We are thrilled to welcome STV as a key partner in our journey. With the continued trust and support of our existing investors, we’re positioned to unlock new growth opportunities while keeping profitability firmly within our sights. This round comes after 24 months without external capital, a testament to our commitment to building a financially sustainable business that is reshaping mobility. Our focus remains on driving meaningful impact in customer experience and the broader global mobility landscape from the Middle East”.
- Ihsan Jawad, General Partner at STV, said: “We are excited to back Invygo as one of our early deals in STV’s newly launched NICE Fund. Saudi Arabia’s economic growth is being driven by rapid technological adoption, and Invygo is leading the charge in redefining access to mobility. Invygo’s ‘Subscribe to Own’ model has uniquely empowered individuals across Saudi Arabia, providing a seamless and accessible path to vehicle ownership through their mobile devices. We are excited to support Invygo as they scale further”.
- Pulkit Ganjoo, co-founder and Chief Data Officer at Invygo, added: “We’ve seen firsthand how empowering access to mobility can be. With invygo access to mobility and car ownership has been simplified similar to how music, movies and more have reached new audiences through subscriptions. By using data to understand supply, pricing dynamics, and customer preferences, we’ve built a product ecosystem that scales efficiently, ensuring optimal vehicle utilisation and supporting our strong unit economics as we move toward profitability”.
Saudi-based Merak Capital has invested $82.8 million in the Saudi logistics and transportation startup SHIFT.
Why it Matters? The investment value reflects the company’s growth especially because it is one of the first investments in the company.
More to Know:
- SHIFT was founded in Jedah in 2017 by Khalid AlSulaiman.
- The startup provides logistics and transportation solutions; including ride-hailing, car rental, last-mile delivery and bus transportation.
- SHIFT said it operates in 57 cities in Saudi Arabia.
- It added that it has over 12,000 vehicles in its fleet.
- Startup: e-Commerce, AI.
- Founding date: 2023.
- Country: UAE.
- Investors: Wamda Capital, 10x Founders, Aditum, Dara Holdings, Jabbar Group, Phaze Ventures, Eureka 460.
UAE-based AI startup qeen.ai announced that it has successfully secured a $2.2 million Pre-Seed round led by Wamda Capital, with participation from international and regional investors, including 10x Founders, Aditum and Dara Holdings, along with Jabbar Group, Phaze Ventures and Eureka 460.
qeen.ai uses GenAI to provide accessible and autonomous AI content creation and real-time translation solutions tailored to e-commerce businesses of all sizes.
qeen.ai says it offers no-code, native GenAI product discovery solutions to boost online sales and customer lifetime value (LTV) for e-commerce businesses. By learning from user interactions, the content is autonomously improved in real-time and in multiple languages – without the need for manual intervention.
According to qeen.ai, its generative search functionality surpasses traditional keyword-focused tools. With its multilingual AI models that are exceptionally apt at understanding the nuances of the Arabic language, current customers have witnessed significant improvements in conversion rates, with an average uplift of 30%.
Founded in August 2023 by ex-Google and ex-DeepMind professionals Dina Alsamhan, Ahmad Khwileh and Morteza Ibrahimi, qeen.ai will use the new funds to fuel its mission to simplify intelligent commerce, making AI solutions accessible and user-friendly for businesses of all sizes.
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