Author: Editorial Board

Saudi Arabia-based Project Suppliers has raised SAR 3.75 million ($1 million) in a pre-seed funding round, backed by a group of angel investors. The startup operates a technology platform connecting suppliers and buyers across the construction and MEP (mechanical, electrical and plumbing) sectors. Its platform combines a specialised supplier search engine with digital tools for managing and tracking quotation requests and generating reports. Project Suppliers has built a database of more than 12,000 suppliers and contractors and has processed around 600,000 quotation requests through its platform. The fresh funding will be used to develop a suite of AI-powered cash flow…

Egypt is set to host KEMET-X, a new global entrepreneurship and innovation gathering bringing together international investors, venture capital firms, startups, corporates, government leaders and technology players from around the world. Launched by Egyptian career development platform Career 180, KEMET-X aims to connect Egypt’s growing startup ecosystem with global capital, expertise and international markets. The initiative is expected to bring funds representing approximately $5 billion in capital from five continents to Egypt, creating opportunities for investment, partnerships and cross-border expansion. The flagship KEMET-X gathering will take place on December 14–15, 2026, at the Great Pyramids of Giza, bringing together more…

Ankara-based biotechnology startup M-Based, which develops mushroom-based alternative materials, has raised nearly $700,000 in a seed funding round to scale the industrial production and commercialisation of its flagship material, FOMES. The round was led by ODTÜ 70. Yıl Venture Capital Investment Fund, managed by Maxis Venture Capital Portfolio Management, marking the fund’s first investment. Elemental Ventures also participated in the round, while existing investor Hatcher+ returned with a follow-on investment. Founded in Ankara, M-Based develops alternative material technologies using fungi, with the ambition of creating more sustainable alternatives to conventional materials and establishing its products as new standards across different…

UAE-based investment firm Shorooq and Presight, a G42 company specialising in applied AI, have invested in US industrial robotics startup Maven Robotics as part of its $100 million Series A round. The investment was made through the Presight–Shorooq AI and Bedaya Funds, both managed by Shorooq. The round also included RoboStrategy, LocalGlobe, Vine Ventures and XTX Ventures. The individual investment amounts from Shorooq and Presight were not disclosed. Founded in 2024 by Hamza Derbas and headquartered in Santa Clara, California, Maven Robotics develops intelligent autonomous robots for logistics and manufacturing. The company is initially focused on mixed-case palletising and tote…

Qatar-based agentic AI startup Aligator has raised $1.2 million (QAR 4.3 million) in a seed funding round to accelerate the development of its AI-powered platform and expand across the GCC and MENA. The round was led by Qatar Development Bank (QDB) and Next Ventures, a fund by Media City Qatar, with participation from a group of private investors. Founded in 2025 by Ali Abbas, Aligator develops autonomous AI agents specifically designed for the public relations industry. Its technology automates workflows including drafting and distributing press materials, monitoring media coverage, identifying relevant journalists and media outlets, and managing outreach campaigns. The…

Saudi Arabia-based workforce housing startup Rela has secured an undisclosed strategic investment from Yazeed Al Rajhi & Brothers Holding, which has joined the company as both an investor and strategic partner. The financial value of the investment and the equity stake acquired were not disclosed. Founded in early 2026 by Salman Al Jabrain, Rela provides technology-enabled workforce housing and accommodation management services, combining licensed accommodation with property management, operations, maintenance and supporting services through a single platform. The company connects property owners, investors and developers with businesses seeking accommodation for their employees and workers. Unlike a traditional marketplace, Rela also…

Dubai-based consumer company Amaani, the parent company of Middle Eastern beauty brand AÏZA, has raised $5 million in a Series A funding round to accelerate its expansion across the GCC and beyond. The round was led by BECO Capital, with participation from Homegrown Ventures and Peak XV’s Surge, bringing Amaani’s total funding raised to $8 million. Founded in Dubai by Shubham Poddar, Amaani launched AÏZA in December 2024 with the ambition of building a globally competitive beauty brand rooted in the ingredients, rituals and culture of the Arab world. AÏZA develops skincare and haircare products inspired by regional ingredients including…

Saudi Arabia-based SME financing platform erad has raised $22 million in a Series A funding round, led by Middle East Venture Partners (MEVP), as the company looks to expand its financing products and deepen its presence across the GCC. The round saw participation from new investors 500 Global, Saudi Venture Capital Company (SVC), S60 Ventures, ANB Capital, Conjunction Capital, and Araya Ventures, alongside existing backers Khwarizmi Ventures, Nuwa Capital, Aljazira Capital, Oraseya Capital, and Joa Capital. Founded in 2022 by Salem Abu-Hammour, Faris Yaghmour, Abdulmalik Almeheini, and Youssef Said, erad provides Shariah-compliant working capital solutions to SMEs in Saudi Arabia…

Universal Payment Network (UPN), owned by FinTra Holding, has launched the UPN Consortium, an open global platform designed to bring together payment networks, banks, financial institutions, digital wallets, remittance companies and open finance providers. Announced during Money20/20 Middle East in Riyadh, the consortium aims to create a collaborative framework where participating institutions can contribute to UPN’s strategy, roadmap, pricing principles, market priorities and the development of cross-border payment and remittance solutions. UPN currently spans more than 50 markets worldwide, covering over 500 million accounts and providing access to more than 100 Alternative Payment Methods (APMs). The company also announced the…

NVIDIA and Egyptian entrepreneurship platform RiseUp have brought together startup founders, developers, investors, industry leaders and academics in Cairo as part of an expanding collaboration aimed at strengthening Egypt’s artificial intelligence ecosystem. The NVIDIA AI Ecosystem Reception, held at the Grand Egyptian Museum, featured senior NVIDIA executives including Paolo Guglielmini, Vice President for EMEA, and Marc Domenech, Regional Vice President for the Middle East, Turkey, Africa and Southern Europe. Discussions focused on opportunities for AI development, deployment and collaboration across Egypt’s technology sector. The gathering comes amid rapid growth in NVIDIA’s local ecosystem. More than 200 Egyptian startups are currently…