MENA startups accelerate with strategic deals

MENA startups accelerate with strategic deals
UAE-based spend management platform Qashio has raised $19.8 million in equity and non-equity funding led by Rocketship VC. (Supplied)
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Updated 31 May 2025

MENA startups accelerate with strategic deals

MENA startups accelerate with strategic deals
  • Investors position for scale amid a rapidly evolving market landscape

RIYADH: Startups across the Middle East and North Africa continued to attract capital, pursue strategic acquisitions, and expand regional footprints this week, underscoring the growing momentum in the region’s innovation ecosystem. 

From early-stage funding rounds to regulatory milestones, founders and investors are positioning for scale amid a competitive and rapidly evolving market landscape. 

On the acquisition front, UAE-based Tech Universal Ventures has taken over the majority share of FixSquad, an Emirati mobile and electronics servicing brand, and ELVA11, a Swedish AI and software consultancy, as part of its strategy to build a global network of digital infrastructure companies. 

FixSquad operates across the Gulf Cooperation Council region with a hybrid consumer-enterprise model and is introducing a regional franchise framework, while ELVA11 offers software development, AI consulting, and digital education services from its offices in Malmo and Stockholm. 

“These acquisitions reflect our strategy to build and back companies delivering core infrastructure for digital growth,” said Darko Atijas, chief operating officer at TUV.

Fintech startup Stitch raises $10m seed round 

Riyadh-based Stitch has secured $10 million in a seed round led by Arbor Ventures, COTU Ventures, Raed Ventures, and Saudi Venture Capital, with additional support from family offices and angel investors. 

Founded in 2022, the company offers an API-driven platform that allows financial institutions to build and deploy digital solutions more efficiently than legacy infrastructure. 

“At Stitch, our vision is to reinvent how financial and non-financial institutions bring banking and payment products to market,” said Mohamed Oueida, founder and CEO of Stitch.  

Qashio secures $19.8m to expand into KSA 

UAE-based spend management platform Qashio has raised $19.8 million in equity and non-equity funding. 

The round was led by Rocketship VC, with participation from MoreThan Capital, regional banks, and family offices. 

Founded in 2021, Qashio plans to enter the Saudi  market and enhance its B2B loyalty program across MENA. 

Qashio previously raised $10 million in a seed round in 2022.

BirdEye raises $586k pre-seed 

Saudi startup BirdEye has closed a $586,000 pre-seed funding round led by a private tech-focused fund. 

Founded in November by Abdullah bin Omairah and Abdulrahman Al-Hassan, BirdEye offers an operations management platform tailored for small and medium-sized retailers undergoing digital transformation. 

The investment will support the company’s national expansion and team growth. 

Gainz closes 7-figure pre-seed round 

UAE-based Gainz has raised a 7-figure US dollar pre-seed round in a mix of equity and debt led by Antler MENAP, Lithium Holdings, and Eleventh Invest Inc. 

Founded in December, Gainz offers a Shariah-compliant crowdfunding platform that allows individuals to invest in vetted SMEs. 

The platform leverages AI to democratize access to working capital for businesses across the region. 

The new funding will go toward scaling operations and product innovation. 

COREangels MEA launches $10m fund 

COREangels MEA, in partnership with PTS Holdings and the Arab Academy, has launched a $10 million investment fund focused on early-stage fintech startups aligned with the UN Sustainable Development Goals. 

During its 5th Investment Committee in Cairo, five startups — eMaisha Pay, RentBeta, Aqua Offers, Monak, and Reeple — were selected to receive up to $150,000 each. 

The fund employs a hybrid model combining global angel networks with local innovation expertise.

Toolmart raises seed funding 

Iraq-based B2B e-commerce startup Toolmart has secured seed funding from Plus VC, Oasis500, and other angel investors. 

Founded in 2022, Toolmart provides a digital procurement platform that helps enterprises reduce costs and streamline sourcing. 

The new capital will be used to expand its team and operations across the region. 




Founded by Abdullah bin Omairah and Abdulrahman Al-Hassan, BirdEye offers a management platform for retailers. (Supplied)

Valu to begin trading on EGX in June 

Egypt’s leading buy now, pay later platform Valu is set to begin trading on the Egyptian Exchange during the week of June 22, following an in-kind share distribution by parent company EFG Holding. 

Official listing occurred on May 21, 2025. 

Founded in 2017, Valu operates in Egypt and and reported 3.1 billion Egyptian pounds in gross revenue and 423 million Egyptian pounds in net profit for 2024. 

Bloomspoon gets $218k on Shark Tank Dubai 

UAE-based greentech startup Bloomspoon raised $218,000 for 49 percent equity on Shark Tank Dubai. 

Founded in 2023 by Mostafa Khattab, Bloomspoon makes reusable cutlery from wheat straw embedded with seeds that can be planted after use. 

The funding will help expand product lines, boost retail distribution, and work toward B Corp. certification. 

Google launches second ‘AI First’ accelerator 

Google has launched the second edition of its “Google for Startups Accelerator: AI First” program for the MENA and Turkiye region. 

The 12-week program is aimed at Seed to series A startups using AI to develop scalable solutions. 

It offers technical resources including cloud credits and mentorship. 

MENA sees 31 percent increase in M&A deals in Q1, led by UAE and tech sector 

According to EY’s MENA M&A Insights report, the region recorded 225 deals worth $46 billion in the first quarter of the year, a 31 percent year-on-year increase in volume and 66 percent rise in value. 

Cross-border activity accounted for over half of all agreements and 81 percent of total value. 

The UAE led with 63 deals totaling $20.3 billion. The technology sector dominated domestic M&A, accounting for 37 percent of deal value. 

The largest domestic transaction was Group 42’s $2.2 billion acquisition of a 40 percent stake in Khazna Data Centers.


Saudi Eksab, Guyana government sign MoU on investment collaboration in key strategic sectors

Saudi Eksab, Guyana government sign MoU on investment collaboration in key strategic sectors
Updated 33 min 42 sec ago

Saudi Eksab, Guyana government sign MoU on investment collaboration in key strategic sectors

Saudi Eksab, Guyana government sign MoU on investment collaboration in key strategic sectors

RIYADH: Saudi Eksab and the government of Guyana signed a Memorandum of Understanding to explore investment collaboration across key strategic sectors on the sidelines of the Future Investment Initiative in Riyadh.

The MoU was signed by Yazeed Alyahya, CEO of Saudi Eksab and Zulfikar Ally, Guyana’s minister of Public Service, Government Efficiency and Implementation, with Guyanese President Mohamed Irfaan Ali witnessing the event.

The MoU paves the way for enhanced collaboration to advance strategic investment opportunities and unlock future areas of mutual interest, and strengthens Saudi Eksab’s role as a trusted partner supporting sustainable growth and economic diversification, a statement said.

“Guyana is entering a transformative phase of development. Through this collaboration with Saudi Eksab, we are eager to explore partnerships that accelerate infrastructure development and economic diversification while fostering global cooperation,” Ally said in the statement.

“This partnership marks an exciting step forward in our mission to identify high-impact investment initiatives that drive shared economic growth. We look forward to identifying meaningful opportunities,” AlYahya meanwhile said.


Why it is vital to protect acacia trees from invasive beetle

Why it is vital to protect acacia trees from invasive beetle
Updated 01 November 2025

Why it is vital to protect acacia trees from invasive beetle

Why it is vital to protect acacia trees from invasive beetle
  • A wood-boring beetle has been killing trees in the Kingdom, including the important acacia and jujube 
  • But an environmental expert cautions against using insecticides that could harm the ecosystem

RIYADH: The acacia tree is of significant importance to both the environment and culture in . It provides shelter for migratory birds and protects travelers and Bedouins in the Arabian Peninsula’s hot desert.

Among the many environmental benefits of the acacia tree is its ability to prevent desertification; its roots improve soil fertility; it provides shade and lower temperatures; it stores carbon and reduces carbon dioxide levels; and it stabilizes dunes in desert areas.

An invasive beetle — scientific name Agrilus planipennis fairmaire — has been attacking trees for years, killing many of them in the Kingdom, including perennial trees.

The 'Emerald ash borer' (scientific name: Agrilus planipennis Fairmaire) is a highly destructive wood-boring beetle feeding on the phloem of ash trees. (Supplied)

Oubaid Alouni, an environmental consultant and former consultant at the National Center for Vegetation Cover Development and Combating Desertification, explained the role of the acacia tree in the ecosystem and how the pest threatens its existence.

He outlined the different types of acacia trees in .

“The acacia tree grows naturally in the desert. It is a desert umbrella tree and is divided into two types; the Iraqi acacia and the Najdi acacia, and reaches around 55 types in total,” Alouni said.

There is also another type of acacia tree that grows in Asir, locally known as Al-Kanhbal, scientific name Vachellia origena, that differs from the Najdi acacia, which has long branches and provides ample shade.

While some acacia trees are native to , others were imported, such as acacia raddiana. They all share a similar trait, providing vital protection from strong sunlight.

While some acacia trees are native to , while others were imported, along with the wood borer. (SPA file photo)

“Any hiker, any traveler, who wants to go to the desert must pass by this tree and take shelter under it,” Alouni said, describing how people have always been connected to this species and valued it.

Securing native trees, not only acacia, holds a deeper meaning for the culture and tradition, he said, such as when the Prophet Muhammad used to sit under the Ziziphus spina-christi.

The acacia tree is threatened by the Agrilus planipennis Fairmaire as this species relies on the tree for nutrients.

“This insect reached through imported wood, as they found larvae inside wood imported from Russia,” Alouni said.

DID YOU KNOW?

• Some of the finest honey in the Kingdom is produced from acacia and jujube trees.

• Acacia trees help reduce sand encroachment in the desert and provide shelter for several bird species.

• The acacia tree can withstand drought for up to 10 years, even severe drought.  

The pest is a highly destructive wood-boring beetle feeding on the phloem of ash trees. It is also known as the Emerald ash borer, and is native to China, Japan, South Korea, Mongolia and Russia.

This bug is typically a small, metallic green beetle, around half an inch (about 1.2 to 1.5 cm in length), and one of its distinguishing features is that when the wing covers are lifted, the upper abdomen is bright red.

Its life cycle involves multiple stages. The first is the egg stage, during which females lay 40-53 eggs.

The larva lives inside the tree for one to two years, eating the layer between the bark and the main trunk. (Supplied)

Then comes the larva, the longest stage of the beetle’s life cycle, lasting almost a year.

“The larva lives inside the tree for one to two years, eating the layer between the bark and the main trunk,” Alouni said.

After that, it goes through a shorter stage, as a pupae, that lasts about 20 days.

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Finally, it reaches the adult stage and is known for chewing through the wood and emerging from trees, forming a small, D-shaped exit hole about 3 to 4 mm wide. This stage of its life is usually short, lasting about 20 days.

The pest is now attacking olive trees in the US, Alouni said.

“In Ohio, I believe, it has begun to invade olive trees terrifyingly. This insect is very dangerous.”

The life cycle of Agrilus planipennis Fairmaire involves multiple stages before reaching adulthood. The first stage is the egg stage, during which females lay 40-53 eggs. (Supplied)

Among the factors that enabled this insect population to increase nationwide is the hunting of birds, especially migratory birds, because they usually feed on insects.

However, the biggest threat to the ecosystem is ignorance, Alouni said, as many people believe the insect is part of the Kingdom’s native environment and that protecting it contributes to a balanced ecosystem.

“There are still people who say, ‘Leave it alone; it’s part of the ecological balance,’ which is, of course, incorrect. This insect is an invasive species in our environment,” he said.

Oubaid Alouni, an environmental consultant and former consultant at the National Center for Vegetation Cover Development and Combating Desertification. (Supplied)

He also believes that pruning trees leaves branches exposed and vulnerable to this insect entering the tree, and that transferring wood from one location to another may provide an opportunity for the larva to expand and increase its numbers.

To address this environmental issue, Alouni told Arab News about the efforts being made to safeguard and protect the Kingdom’s natural treasures, including organizing discussions and workshops to explore the issue and exchange potential solutions among experts.

Also, he believes that a particular bird species, the woodpecker, is one of the most effective ways to reduce the numbers of the beetle.

The pest is a highly destructive wood-boring beetle feeding on the phloem of ash trees. (Supplied)

“It’s called the Arabian woodpecker, yet it only exists in Asir and in small populations, too,” he said.

According to Alouni, the Arabian woodpecker hears the insect inside the tree, hits the branch with its beak and removes it.

Arabian woodpecker. (James Eaton photo / via Wikimedia Commons)

One of the strongest methods to contain pests is biological control, which uses other species to help the ecosystem naturally protect and restore its balance.

One animal feeds on another to keep the environment balanced, such as using Orussidae — a parasitic wood wasp — or placing large numbers of chickens and other birds in forests and farms.

The Orussidae or the parasitic wood wasps, along with birds, are better alternatives to harmful pesticides in fighting the destructive beetle. (Wikimedia Commons)

“It is called Orussidae in the United States … it kills insects very fast.”

Chemical methods can also be used, but Alouni does not endorse these due to their environmental risks.

 


gears up for Biban 2025, the region’s largest startup and SME event

 gears up for Biban 2025, the region’s largest startup and SME event
Updated 31 October 2025

gears up for Biban 2025, the region’s largest startup and SME event

 gears up for Biban 2025, the region’s largest startup and SME event

RIYADH: is set to host the Middle East’s premier entrepreneurial event, Biban 2025, on Nov. 5, at the Riyadh Front Exhibition and Conference Center. 

Organized by the Small and Medium Enterprises General Authority known as Monsha’at, the four-day event will run under the theme “Global Destination for Opportunity.”

Now in its 11th edition, Biban 2025 will convene a global audience from over 150 countries, the Saudi Press Agency reported. 

The forum will feature 200 local and international speakers and bring together 150 enabling entities from the government and private sectors, with several billion-dollar agreements and initiatives expected to be unveiled.

The event solidifies its role as the region’s largest entrepreneurial platform, connecting startups, investors, policymakers, and world-renowned experts. The goal is to forge strategic partnerships, explore high-value opportunities, and develop innovative ideas to fuel the growth of ’s entrepreneurial ecosystem.

Attendees are set to gain insights from more than 85 specialized workshops led by top experts, focusing on key areas such as finance, investment, management, marketing, digital transformation, and global expansion. 

The forum features seven main sections, designed to cover the various needs of entrepreneurs and small-to-medium enterprises. These dedicated sections address key areas such as financing, franchising, e-commerce, and market access.

Biban 2025 builds on the legacy of its previous editions, which have launched hundreds of successful projects and partnerships, empowering small and medium-sized enterprises to expand into local and global markets. 

The forum is a key initiative supporting Saudi Vision 2030, reinforcing the Kingdom’s position as a global hub for investment and opportunity.


New $80m fund to bridge Chinese industry and key Saudi sectors

New $80m fund to bridge Chinese industry and key Saudi sectors
Updated 31 October 2025

New $80m fund to bridge Chinese industry and key Saudi sectors

New $80m fund to bridge Chinese industry and key Saudi sectors

RIYADH: Digital technology, advanced manufacturing, and logistics are among the Saudi sectors set to benefit from an $80 million investment partnership between ewpartners and Chinese industrial hub Tianjin Binhai New Area.

Formalized in the presence of the Kingdom’s Public Investment Fund and its fund-of-funds platform Jada at the Future Investment Initiative conference in Riyadh, the move aims to introduce mature Chinese industrial projects and technologies into and the wider Gulf region.

This partnership directly supports Saudi Vision 2030 by leveraging Tianjin Binhai’s capabilities in alternative energy, smart manufacturing, and port logistics, combined with ewpartners’ network and investment expertise in the Middle East, according to a press release.

Jada CEO Bandr Mohammed Al-Homaly said: “Jada is committed to building a vibrant private capital ecosystem in , for example through bridging global expertise with local opportunities.”

He added: “The momentum we see from the partnership between ewpartners and Tianjin Binghai New Area, across logistics and technology for instance, reflects our shared dedication to Vision 2030 and to building a thriving private capital ecosystem in the Kingdom.” 

The goal is to accelerate industrial upgrading, enhance local supply chains, and strengthen the Kingdom’s manufacturing competitiveness.

Wu Di, vice chairman of the Administrative Commission of Tianjin Binhai Hi-tech Industrial Development Area, said: “We look forward to leveraging Tianjin’s strengths in smart manufacturing, technology, and port logistics to deepen cooperation with and the Middle East, and to build a long-term, open, and mutually beneficial international partnership.”

Jerry Li, co-founder and managing partner of ewpartners, said the partnership is not just about connecting capital— but bringing together industries and innovation capabilities. 

He added:: “Through this fund, we aim to bring China’s proven expertise in manufacturing and technological innovation to the Middle East, driving high-quality regional development.”

The fund marks a strategic step in strengthening industrial and investment ties between Asia and the Middle East, positioning as an emerging global hub for cross-border industrial cooperation.


leads GCC fixed-income issuances in Q3, Markaz says 

 leads GCC fixed-income issuances in Q3, Markaz says 
Updated 31 October 2025

leads GCC fixed-income issuances in Q3, Markaz says 

 leads GCC fixed-income issuances in Q3, Markaz says 

RIYADH: dominated the Gulf Cooperation Council region’s primary debt market in the third quarter of 2025, raising $20.32 billion through 36 issuances, representing a 62.7 percent year-on-year increase in value, according to a new analysis. 

In its latest report, Kuwait Financial Center, also known as Markaz, said that primary issuances of bonds and sukuk across the GCC totaled $38.74 billion through 137 issuances during the third quarter, marking a 32.4 percent increase from the same period in 2024, when issuances reached $29.29 billion. 

The debt market in the region — particularly in — has expanded significantly in recent years, driven by economic diversification efforts that have strengthened investor demand for fixed-income instruments. 

“As for issuance preferences, the third quarter of 2025 saw an increased appetite for sukuk issuances in the GCC, representing 52.6 percent of total issuances for the year. This is a change in issuance preferences from the third quarter of 2024, where more conventional bonds were issued,” said Markaz. 

According to the report, UAE-based issuers raised $5.82 billion through 57 offerings in the third quarter, marking a 47.3 percent decline compared with the same period in 2024. 

Qatar ranked third in terms of issuance value, with $5.69 billion raised through 29 issuances, followed by Kuwait, where issuers raised $3.42 billion through eight issuances, reflecting a 118.4 percent increase year on year.

Issuances in Bahrain surged 539 percent from a year earlier to $2.55 billion across four issuances, while Omani entities recorded the lowest total, raising $0.94 billion through three issuances.

Markaz added that total GCC corporate primary issuances grew 4 percent in the third quarter to $26.59 billion. Conventional issuances decreased 18.6 percent to $18.37 billion, while sukuk issuances rose sharply — up 202.7 percent during the quarter — reaching a total value of $20.37 billion for the year to date.

The financial sector led all GCC bond and sukuk issuances in the third quarter, with a total value of $21.53 billion, followed by government issuances at $11.1 billion, the report said.