Author: Editorial Board

Clopos, a cloud-based POS and business management platform focused on the hospitality and retail sectors, has secured new investment from INMerge Ventures to support its continued expansion across emerging markets. While the financial details of the transaction were not disclosed, the funding will be used to further enhance the company’s technology platform, grow its team, and accelerate its regional footprint. The investment comes at a time when small and medium-sized businesses across emerging markets are rapidly shifting away from legacy systems toward more flexible, cloud-based solutions. Clopos addresses this demand with an integrated platform that combines operational tools with advanced…

Applications are now open for WorkupOnBoard, a production-focused acceleration program designed for high school students by Workup, with the deadline set for May 15. The program aims to support highly motivated young individuals in developing entrepreneurial skills and engaging with the startup ecosystem. It will be held in a hybrid format between July 4–26. Backed by Türkiye İş Bankası, Workup is expanding its initiatives with this new program tailored specifically for high school students. Implemented under the leadership of the Artificial Intelligence Factory (YZF) within İş Bankası, WorkupOnBoard is structured as an intensive acceleration program guiding participants from the idea…

Maxi Mobilite has secured a $225,000 pre-seed investment led by the ŞirketOrtağım Angel Investor Network, aiming to expand its AI-powered mobility and fleet management solutions. The company, which develops innovative technologies in mobility and fleet operations, marks an important milestone in its growth journey with this round. This strategic partnership is expected to accelerate the company’s ambitious goals in the sector, reinforcing its technology-driven approach to the future of mobility. A technology-driven vision for the future of mobility Operating under Maxi Mobilite Çözümleri Teknoloji and Maxi Filo Yönetim Hizmetleri, the company focuses on making vehicle and mobility operations more efficient,…

Kazakhstan’s President Kassym-Jomart Tokayev visited the Alem.ai Artificial Intelligence Center, where several new AI, education, smart city and digital economy initiatives were launched. During the visit, Kazakhstan officially launched the Astana Smart City project, a next-generation intelligent urban infrastructure initiative. Thomas Pramotedham, CEO of Presight, presented a unified AI platform designed to integrate city data and systems in real time, with the goal of improving urban management and public service efficiency. The visit also marked the national expansion of Tomorrow School, an AI-focused school launched in 2024 under Astana Hub. The program will now operate across 14 regions of Kazakhstan,…

GIZ Egypt, in partnership with enpact, launched the “Scale It Forward programme”, a strategic financing initiative designed to bridge the gap between Financial Institutions (FIs) and innovative scale-ups by introducing Venture Debt as a practical financing solution in Egypt. According to the Ministry of Planning and Economic Development, Egypt’s startup sector delivered a strong performance in 2025, raising approximately USD 614 million in total funding across equity, debt, and innovative instruments, marking a 51% year-on-year increase. However, capital deployment remains largely steered towards equity investments, highlighting a gap in structured debt solutions and financing alternatives for scaling businesses. “Diversifying the…

Comfi, a B2B embedded finance platform, today announced it has raised $65 million in a pre-Series A funding round consisting of both equity and debt. The equity round was led by Iliad Partners and joined by Yango Ventures and Raw Ventures, both making their first investment in the region. The round includes a credit facility from Partners for Growth and a mezzanine facility structured by Shorooq, with participation from a notable family office. Founded in 2023 and headquartered in the UAE, Comfi was established by Sanjar Samiev, Alisher Akbarov, Amal Abdullaev, and Denis Gavrilin, a founding team with experience spanning…

Lola, the fast-growing cake ordering and customisation platform, has raised $3 million in a seed funding round led by Vision Ventures with participation from Aljazira Capital, Seedra Ventures, Plus VC and other investors, reflecting strong investor confidence in its business model and ability to scale. Lola’s goal is to transform how people experience celebrations across the MENA region. But Lola didn’t start as a cake business; it started by solving a frustrating experience, ordering a cake the way you want it. Ordering a customised cake has always been complicated and frustrating, involving endless back-and-forth with bakeries, trying to explain an…

VAST Data, the AI Operating System company, today announced the closing of its Series F financing at a $30 billion valuation, representing more than a threefold increase from its $9.1 billion Series E valuation in late 2023. The latest round was led by Drive Capital, with Access Industries acting as co-lead, and included participation from existing investors, including NVIDIA, Fidelity, and NEA, alongside new investors. This financing reflects the accelerating demand for a new data infrastructure stack needed for the development and deployment of artificial generally intelligent systems. The financing included primary and secondary capital, bringing the total transaction value…

Oman-based foodtech startup FASCANO has closed a $10 million investment round to accelerate product development and expand its operational solutions for the hospitality and food & beverage sector across the region. The round saw participation from His Highness Sayyid Dr. Kamel bin Fahd Al Said and Cyfr Capital, in partnership with Future Fund Oman under the Oman Investment Authority. Founded in 2021 by Ahmed Al Kharusi and Murak Al Muairki, FASCANO develops technology and operational tools designed to help hospitality and F&B businesses improve efficiency, streamline workflows, and enhance service quality. The new funding marks the company’s third investment round…

China’s tech giant Tencent has become a shareholder in Kazakhstan-based fintech powerhouse Kaspi.kz, marking a notable cross-border move in the evolving global super app landscape. Kaspi.kz (Nasdaq: KSPI) announced that Tencent, alongside co-founder and CEO Mikheil Lomtadze, senior management, and long-term institutional investors, has acquired 6 million American Depositary Shares (ADSs) from Baring Fintech Venture Funds. Financial terms of the transaction were not disclosed. Lomtadze framed Tencent’s entry as a strategic alignment rather than a purely financial investment. “Tencent pioneered the super app ecosystem business model, and we have long admired its ability to combine innovation at scale with disciplined…