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News

Egypt to roll out unified startup reporting system with support from World Bank and top VCs

Jun 6, 2025

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1 min read

Egypt to roll out unified startup reporting system with support from World Bank and top VCs

Egypt’s MSMEDA, backed by the World Bank, has partnered with Visible.vc and leading VCs including Foundation Ventures, Algebra, Sawari, Shorooq, and Endure to launch a unified portfolio reporting system for startups.

News

Egypt-born Hussein Ahmed raises $7M for stablecoin-powered banking platform Limited

Jun 6, 2025

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1 min read

Egypt-born Hussein Ahmed raises $7M for stablecoin-powered banking platform Limited

The Seed round was led by North Island Ventures, with backing from Third Prime, Arche Capital, Collab+Currency, and SevenX Ventures.

Saudi Arabia

Khwarizmi Ventures eyes $100M+ Fund II to back early-stage startups

Jun 6, 2025

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2 min read

Khwarizmi Ventures eyes $100M+ Fund II to back early-stage startups

Speaking to Alarabiya Business, Managing Partner Abdulaziz Al-Turki called it a “golden opportunity” for early-stage investing, pointing out that MENA went from zero unicorns a decade ago to eight today, and could reach 60 by 2035.

News

Mubadala-backed GlobalFoundries commits $16B to expand US chip production

Jun 6, 2025

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1 min read

Mubadala-backed GlobalFoundries commits $16B to expand US chip production

The move strengthens US-based supply for clients like Apple, AMD, Qualcomm, and SpaceX, targeting rising demand for AI chips, 22FDX low-power tech, and silicon photonics.

News

Expensya founders return with Thunder Code, raise $9M to automate software testing with AI

Jun 6, 2025

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2 min read

Expensya founders return with Thunder Code, raise $9M to automate software testing with AI

Founded by Karim Jouini and Jihed Othmani, the team behind Expensya, Thunder Code is their follow-up to one of Africa’s biggest tech exits. Expensya was acquired by Swedish procurement platform Medius in 2023 for a reported $120 million+.

Saudi Arabia

Tamara turned a profit, but the real story is how

Jun 4, 2025

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3 min read

Tamara turned a profit, but the real story is how

Saudi Arabia’s fintech crown jewel is now profitable. But its Q1 financials come with caveats, and reveal a seemingly quiet re-architecture of its business model.

News

Abu Dhabi-based eVoost raises Seed funding from Qora71 to scale its AI-native real estate sales platform globally

Jun 3, 2025

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2 min read

Abu Dhabi-based eVoost raises Seed funding from Qora71 to scale its AI-native real estate sales platform globally

Founded in 2024 by Cristian G. Pastrana, eVoost replaces the traditional real estate sales funnel with AI-powered virtual agents that personalise buyer journeys through emotional profiling.

Podcast

Jun 2, 2025

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4 min read

VC React Podcast (Episode #37)

We break down the UAE’s AI strategy following the launch of OpenAI and G42’s Stargate UAE, examine the collapse of QIA-backed unicorn Builder.ai, explore what it takes for diaspora founders to succeed in Silicon Valley, and discuss why Iraq’s emerging startup scene is gaining momentum.

Weekly round-up

Saudi SPACs, $10B AI Funds, and Musk meddles

May 30, 2025

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15 min read

Saudi SPACs, $10B AI Funds, and Musk meddles

HUMAIN to launch $10B VC fund for global AI startups, Elon Musk tried and failed to blow up Stargate UAE, what you need to know about Saudi SPACs, plus this week’s MENA startup, VC, and tech news round-up.

News

May 30, 2025

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2 min read

Elon Musk tried to blow up Stargate UAE

Just days before the U.S.–backed AI cluster was announced in Abu Dhabi, with OpenAI, Oracle, Nvidia, Cisco, and SoftBank all in Musk personally phoned G42 executives and delivered a warning: the deal wouldn’t get past Trump unless xAI was included.

News

Egyptian founder Ozzie Osman’s Monarch raises $75M Series B to become the new leader in personal finance

May 30, 2025

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2 min read

Egyptian founder Ozzie Osman’s Monarch raises $75M Series B to become the new leader in personal finance

Founded in 2018 by Osman, Val Agostino (formerly of Mint), and Jon Sutherland, Monarch was designed from day one as a subscription-based alternative to ad-supported personal finance tools.

Saudi Arabia

May 29, 2025

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3 min read

The return of the SPAC, Saudi-style

What the CMA’s new draft framework tells us about the next chapter of public markets in the region.

News

Stitch raises $10M to build Saudi-born fintech infrastructure for emerging markets

May 29, 2025

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2 min read

Stitch raises $10M to build Saudi-born fintech infrastructure for emerging markets

Founded in 2022 by Mohamed Oueida, Stitch is a unified SaaS and API platform that enables financial and non-financial institutions to build and scale modern financial products, cutting implementation time by up to 80%.

News

Saudi Arabia’s Humain to launch $10B VC fund for global AI startups

May 28, 2025

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2 min read

Saudi Arabia’s Humain to launch $10B VC fund for global AI startups

The fund, Humain Ventures, will invest across the US, Europe, and Asia, with an explicit goal of placing Saudi Arabia at the heart of the global AI ecosystem.

Interview

May 28, 2025

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9 min read

Arabic healthcare: for us, by us

Why obesity in the GCC isn’t just medical, how GLP-1s could be the iPhone of health, why D2C is a necessary (but temporary) proving ground, and what asynchronous care gets right about shame and scale.

News

UAE-based spend management platform Qashio secures $19.8M in funding

May 27, 2025

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2 min read

UAE-based spend management platform Qashio secures $19.8M in funding

Founded in 2021 by Armin Moradi, Qashio provides customised corporate cards and embedded financial services tailored to the needs of high-compliance industries such as legal, consulting, government, travel, hospitality, retail, and high-volume e-commerce.

Podcast

May 26, 2025

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4 min read

VC React Podcast (Episode #36)

We unpack the factors behind Egypt’s massive startup funding surge, unpack funding for Nawy, Thndr, Sylndr, and Money Fellows, and discuss sovereignty in the context of LLMs and satellite imagery.

News

Abu Dhabi’s IMX Funds partners with Sapient Foundation to power diligence and global impact

May 26, 2025

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2 min read

Abu Dhabi’s IMX Funds partners with Sapient Foundation to power diligence and global impact

Founded to back Series A-stage companies with active operational support and disciplined governance, IMX is currently raising a $75–100 million vehicle.