- Startup: SaaS, eCommerce.
- Founding date: 2019.
- Country: UAE.
- Investors: Jahez Group, Addition, Oryx Fund.
Grubtech, a UAE-based SaaS integration and unified commerce platform for F&B and Quick Commerce enterprises, announced it has raised $15 million as part of its Series B and a Series A extension round. The Series B round was led by the VC arm of Saudi-based Jahez Group, with the participation of existing investors Addition and Oryx Fund.
Grubtech addresses the F&B sector by providing omnichannel solutions for operations. Its flagship solution, gOnline, provides users a unified commerce engine by integrating a wide set of online and in-store ordering channels into downstream systems like POS, ERP, Inventory, third-party logistic providers and loyalty solutions. Grubtech also has solutions to streamline in-store operations, fulfilment, and AI-driven data analysis.
Grubtech said it operates across 18 markets and has evolved beyond F&B to include other quick commerce category leaders such as groceries and pharmacies. The startup plans to use the funds to accelerate geographic expansion and establish offices in Saudi Arabia, Europe and the UK.
Founded in 2019, Grubtech has previously announced raising $18.4M including $13M in the Series A round that was announced in 2021.
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.”
- Startup: AgriTech.
- Founding date: 2018.
- Country: Saudi Arabia.
- Investors: Ecosystem Integrity Fund (EIF), Global Ventures, Dubai Future District Fund (DFDF), Kanoo Ventures, Globivest, and Bonaventure Capital.
Saudi Arabia-based agritech iyris, formerly RedSea Farms, has closed a $16 million Series A round, led by Ecosystem Integrity Fund (EIF), with participation from Global Ventures, Dubai Future District Fund (DFDF), Kanoo Ventures, Globivest, and Bonaventure Capital.
iyris develops technologies that help growers increase crop yields and extend growing seasons in difficult farming environments. It has developed SecondSky, greenhouse covers and nets, and works on innovative heat-blocking products and resilient plant genetics.
The investment will be used to support sales coverage for its strong international sales pipeline of SecondSky. It will also underpin ongoing commitment to empowering farmers to sustainably mitigate the impact of climate change.
iyris was founded in 2018 in Saudi Arabia and uses technologies that were originally developed by leading scientists and professors at the King Abdullah University of Science and Technology (KAUST) in Saudi Arabia. The company had raised $34 million before this round which helped it to expand to other markets; including Egypt, UAE, Morocco, Spain, Portugal, Mexico and North America.
STUCK?, the Saudi language intelligence platform, has announced the closing of its 6-figure Pre-Seed investment round, led by UK-based Mena Tech Fund. The round also saw participation from the KAUST Innovation Fund and several prominent angel investors, including Maha Taibah, founder of RUMMAN, Basma Bushnak, co-founder and former CEO of Emkan Education, as well as investors from the OQAL network.
More Details:
- STUCK? was founded by Asmaa Naga in September 2022, with Tasneem Islam as a partner and Chief Commercial Officer (CCO) and Hossam Ahmed, Chief Technology Officer (CTO).
- The platform operates in the language intelligence sector, offering an AI-powered solution for content creation and translation.
- It provides services through three modes: fully AI-driven, fully human, or a hybrid of both, allowing organisations flexible control over their messaging.
- The investment will be used to develop localised Arabic AI models, expand into new languages such as Chinese, and offer on-premise solutions for enterprises.
- Sanabil 500 MENA has previously backed STUCK?.
Arzan Venture Capital has partnered with Ahmed Taqatqa to launch Revenya Capital, a revenue-based financing company, with a $2 million Seed investment.
More to Know:
- Revenya Capital was founded in 2024, in Riyadh, by Ahmed Taqatqa.
- Revenya Capital works to empower technology startups in the Middle East and North Africa.
- The company aims to meet the growing demand for non-dilutive financing options in the region.
Mamo, a UAE-based fintech startup, announced that it secured $3.4 million in funding from 4DX Ventures, the Dubai Future District Fund, and Cyfr Capital.
Why it Matters? The funding will help the startup to extend its footprint to Saudi Arabia, in the meantime, it will launch new products in UAE.
More to Know:
- Mamo was founded in 2019 by Asim Janjua, Imad Gharazeddine, and Mohammad El Saadi.
- The startup offers payment collection, corporate cards, and expense management solutions to SMEs.
- Mamo will use the funds to begin testing its product lines in Saudi Arabia as the first step for regional expansion.
- Mamo has raised a total of $13 million in funding, and the team stands at 30
members.
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…
Aya, a Saudi-based e-commerce and fashion platform, has closed a $1.6M Seed Round led by Khwarizmi Ventures, with participation from Raed Ventures, Joa Capital, FENA Holdings, Turki Alrajhi and angel investors.
More to Know:
- Aya is an e-commerce platform for modest fashion.
- It empowers local manufacturers to deliver on-demand fashion by predicting market trends.
- The funds will be used to accelerate product development, expand its market presence, and enhance its platform.
- Founded by Munira Al Kadi and Abdulrahman Al Ammar in 2024.
- Startup: Loyalty.
- Founding date: 2016.
- Country: UAE, KSA.
- Investors: Alistithmar Capital, Tech Invest Com, Hambro Perks Oryx Fund.
Merit, which focuses on customer and engagement technology, announced securing $12M in a Pre-Series B round led by Alistithmar Capital with the participation of Tech Invest Com and Hambro Perks Oryx Fund. The startup surpassed its initial goal of $5M.
Providing communication and loyalty program solutions to companies, clients and employees, Merit said it has experienced notable growth, with a Cumulative Growth Rate exceeding 60% and a substantial increase in its user base by 80%, launching more than 100 instances across 20 additional countries.
The startup operates across over 160 countries and collaborates with upwards of 6,000 brands. Particularly in Saudi Arabia, the company has had a substantial influence, distributing in excess of a million rewards and gifts in 2023 alone. Looking to the future, Merit is set on increasing these efforts and aspires to enhance this tally threefold come 2024.
Merit’s CEO, Julie Barbier-Leblan, shared her positive outlook, saying: “We are feeling optimistic about our progress on both international and regional fronts. As we look ahead, we have exciting objectives on the horizon for the coming years. Our increased involvement in Saudi Arabia’s tech innovation ecosystem is something we are particularly pleased about. Looking forward, we anticipate a busy year ahead as we prepare to launch strategic projects. We recognize the immense market opportunity that awaits us, and we’re confident that our proprietary engagement solutions will meet the needs of our users”.
She emphasized the pivotal role of The Saudi Investment Bank (SAIB), a prominent financial institution known for its history of driving growth and achieving success. Notably, SAIB’s ownership of American Express Saudi Arabia serves as a testament to its ability to spearhead significant advancements in the financial sector, further propelling Merit’s journey of growth and development.
The investment from Alistithmar Capital is the first investment of the newly launched SAIB Venture Studio, which has been set up to launch new initiatives for customers in technology and fintech, leveraging SAIB’s capabilities.
CEO of the Saudi Investment Bank Faisal Al-Omran, elaborates on the SAIB Venture Studio, saying: ” This strategic collaboration with Merit aims to launch innovative digital solutions to the market. It comes as an outcome of the untiring efforts by SAIB Venture Studio to invest in innovative technologies and fintech companies and launch a stream of initiatives in fintech and loyalty programs”.
He added: “We boast our loyalty history as one of the first banks in the Kingdom to launch a digital loyalty program. Our good track record with innovation partners, technology, and good synergies with many fintech partners – such as this strategic partnership with Merit – definitely contributes to boosting our leadership.”
Founded in 2016 in UAE, Merit announced the closure of its $5M Series A round in 2021, led by Impact46 with the participation of several investors including Tech Invest Com and Hambro Perks Oryx Fund which also participated in the latest round, followed by opening regional headquarter in KSA.
Saudi-based event planning and management platform, Mila Celebrations, has secured a $227,000 Pre-Seed investment from angel investors.
More to Know:
- Mila Celebrations was founded by Mohammed Ghourbal in 2024.
- The platform offers solutions for event organizing.
- It provides decor, catering products, and photography for events and connects people with event organizers.
- It plans to use the fund for GCC expansion.
UAE-based NymCard has raised $33 million in a Series B funding led by QED Investors, with participation from Lunate, Dubai Future District Fund, Mashreq, Knollwood Investment Advisory, Reciprocal, FJ Labs, Endeavor, Shorooq, and Oraseya Capital.
More to Know:
- Omar Onsi founded NymCard in 2018.
- NymCard provides infrastructure for banks, fintechs, enterprises, and telecom providers, including card issuance, transaction processing, digital lending, and real-time money movement through its proprietary nCore platform.
- It operates in 10 markets across the MENA region, according to its press release.
- The funds will support its expansion and strengthen digital payment infrastructure in the region
Related Comments:
- Omar Onsi, CEO of NymCard stated: “This investment is a testament to the strength of our technology and our commitment to enabling financial innovation in MENA,” he added “With the backing of our investors, we will continue pushing the boundaries of payments and embedded finance, ensuring our clients have access to best-in-class payment infrastructure solutions backed up by solid program management capabilities. We are especially excited to welcome QED Investors on this journey, given their unrivaled experience in fintech across multiple geographies. Their expertise will be invaluable as we further expand our impact in the region.”
- Gbenga Ajayi, QED Investors’ partner, Head of Middle East and Africa, said: “NymCard is a true testament to the ripe and flourishing ecosystem we are seeing across MENA. By providing out-of-the-box card issuing and embedded finance solutions, NymCard is bridging the fintech gap and empowering businesses with the infrastructure they need to innovate. With its API-first approach, NymCard is expanding financial access for startups and enterprises, driving SME growth, and strengthening MENA’s digital economy.”
- Julien Plouzeau, Senior Partner at Oraseya Capital, added: “NymCard has firmly established itself as the market leader in fintech infrastructure across MENA, with deep customer stickiness and an expanding product suite that serves a broad range of industries. Its proprietary technology, regulatory positioning, and ability to scale across diverse markets make it a critical enabler of financial services innovation in the region. We are excited to support Omar and his exceptional team as they continue to redefine embedded finance in MENA”.
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Recent leaks suggest that OpenAI is testing advertisements within the ChatGPT app on the Android beta version (1.2025.329), according to tech account Tibor Blaho on X
More to Know:
– The source noted that these experiments may be nothing more than early-stage testing and not necessarily an indication of a full rollout.
– The leak surfaced shortly after OpenAI introduced its new shopping search feature in ChatGPT, which offers a more personalized shopping experience.
Why It Matter?
The timing is significant given 2024 statistics showing that the AI model handles 2.5 billion prompt daily, racks up 5 to 6 billion monthly visits, and reaches 800 million weekly users. This massive user base means the company has all the necessary components to start targeting users and the only thing left is to officially greenlight the move.
The Lending Hub, a Saudi-based lending platform, has raised $3.2 million in a funding round led by Embark and angel investors, according to the platform announcement.
Why it Matters? A new P2P lending platform attracts investors in Saudi Arabia.
More to Know:
- The Lending Hub was founded in 2023 to provide peer-to-peer lending solutions.
- The new funds will be used to scale and develop new lending products, the company said.
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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IOTA Software Inc., a US-based developer of industrial and commercial data visualization software, announced that it has raised a $10.4 million Series A2 funding round led by Altira Group.
More to Know:
- The company was founded in 2021 by T.J. Rulapaugh.
- Oxy Technology Ventures and Second Avenue Partners participated in the round.
- IOTA supports executives, production managers, and operators with essential insights to improve performance and make data-driven decisions.
- The new funding will be used to expand its team, strengthen its technology infrastructure, and support its marketing efforts.
- Startup: Proptech, Fintech.
- Founding date: 2020.
- Country: UAE.
- Investors: DFDF and Oryx Fund, Aditum Investment Management Limited.
UAE-based proptech, Holo, announced raising funds in a Pre-Series A round led by DFDF and Oryx Fund, with participation from Aditum Investment Management Limited.
Holo which focuses on mortgages will use the funds towards enlarging its market presence in the UAE. Furthermore, the funding enables team expansion and the development of key product lines, as well as expanding the company’s footprint across to other GCC, with an immediate focus on KSA.
Founded in 2020, the startup provides a secure and transparent algorithm-backed platform that would allow prospective homeowners complete visibility and access to a full range of unbiased mortgage and remortgage options from more than 20 local lenders, within minutes. The startup said it has helped advise more than 20,000 clients in financing their homes.
Mush Social, a Saudi-based social media platform, has secured an investment of $1.2 million in a Pre-Seed round led by Nefal Consulting, with participation from Nahr AlJazira and angel investors.
Why it Matters? Saudi social media platform closes an investment round.
More to Know:
- Abdulhadi AlAsmi founded Much Social in 2022.
- Much Social is a reward-based social media platform.
- It will use the funds to develop its technology, according to its press release.
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.
Ayen, a Saudi-based platform in real estate inspection and appraisal solutions, has announced the acquisition of Elmawkaa, an Egyptian startup, in an undisclosed deal.
More to Know:
- Ali Mohsen founded Ayen in 2017 to provide real estate insertion solutions.
- This acquisition will help Ayen expand into new markets.
- Ayen said it’s preparing for pre-IPO and developing real estate financing and insurance solutions.
- Previously, ElMawkaa has secured investments from Oqal, Flat6Labs, 500 Global, Hub71, Taqadam, Injaz, and angel investors.
BIM Ventures and SBI Holding announced the establishment of BIM Capital.
Why it Matters? BIM Capital aims to attract over USD 200 million (SAR 750 Million) in foreign direct investment.
More to Know:
- BIM Capital will focus on a diverse range of investments, including private equity, venture capital, debt funds, and real estate funds.
- The firm aims to attract over $200 million (SAR 750 Million) in foreign direct investment and targets total assets under management exceeding $2 billion (SAR 7.5 Billion).
- It will target companies in the MENA region.
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