Author: Editorial Board

CNTXT AI, a UAE-based data and AI company, today announced the acquisition of Actualize, an enterprise AI company building dialect-aware Arabic voice agents for the GCC, powered by realistic Arabic speech models. The acquisition brings Actualize’s technology and team into CNTXT AI, strengthening its Arabic voice AI and enabling sovereign AI agents that can act on requests, not just respond to them, across enterprise and government environments. Actualize adds capabilities in Arabic voice automation, conversational AI, and workflow automation. Its Arabic voice models, built natively for regional dialects, are recognized among the most natural-sounding in the market. Backed by a…

Anara Impact Capital, an impact venture capital firm investing across the Middle East & North Africa, today announced the first close of its debut fund at $48 million, marking a significant milestone toward its $50 million target fund size. The fund will invest in Seed and Series A startups focused on learning, wellbeing, financial access, and climate, each of which is central to the region’s long-term development. The fund aims to back companies that can deliver both strong financial returns and measurable impact within their communities. The first close is anchored by a landmark coalition of institutional backers, including KfW,…

Efham.ai, an AI education platform developed by Egypt-based NixAI, has secured an investment from Foras.AI to support its mission of building the first Arabic community dedicated to learning artificial intelligence in the Arabic language. The investment comes amid growing demand for AI skills across the Middle East and North Africa, as individuals, startups, and businesses increasingly adopt AI-powered tools while facing limited access to specialised educational content in Arabic. Efham.ai plans to launch more than 100 AI training lessons by the end of Q3 2026, targeting learners across Egypt, Saudi Arabia, the UAE, Kuwait, Jordan, and other Arab markets. The…

du, the leading telecom and digital services provider, today announced the launch of du Ventures, a $50 million corporate venture fund developed in partnership with Shorooq and designed to accelerate the next wave of digital innovations across the UAE and the broader region. The initiative marks a significant milestone in du’s evolution beyond traditional telecom services into a comprehensive digital ecosystem player. du Ventures will partner with promising startups and founders who are transforming emerging technologies into real-world solutions, focusing on companies across fintech, AI, cybersecurity, cloud, loyalty, gaming, enterprise solutions, and customer experience technologies. Fahad Al Hassawi, CEO at…

CargoX, an autonomous delivery platform based in the United Arab Emirates, announced today it raised $250 million from an investor group, led by BlueFive Capital. The company will be led by Tomaso Rodriguez, the former CEO of Talabat. During his six years as CEO, Rodriguez grew Talabat more than ninefold to become the largest food delivery service in the Middle East and led the company through a $2 billion IPO in 2024, the largest global technology IPO of the year. CargoX deploys driverless delivery vehicles across last-mile, middle-mile and long-haul logistics routes. The platform has been successfully piloted on public…

U.S.-based AI workflow platform Atlantic has secured a new investment from the angel investor network Galata Business Angels (GBA) at a $5 million valuation. The investment round included prominent GBA members such as Arif Akdağ, Kaan Boyner, Bülent Çelebi, Uğur Şeker, Ahu Büyükkuşoğlu Serter, Görkem Güven, Ata Uzunhasan, and other members of the network. Atlantic said the new funding will be used to expand its customer base, grow its sales team, and accelerate product development efforts. Founded in March by 17-year-old Rüzgar İmren and 18-year-old Ege Mustafa Çelik, Atlantic emerged from an idea the founders developed while still in high…

UAE-based super app Careem is entering a new ownership phase after Uber agreed to acquire a 12.5% stake in Careem Technologies from e& for $100 million in cash. Under the agreement, e& will reduce its shareholding in Careem Technologies to 37.53% from 50.03% while Uber strengthens its ownership position in the company. The transaction remains subject to regulatory approvals and customary closing conditions. The move marks another shift in Careem’s ownership structure following e&’s acquisition of a majority stake in the super app business in 2023 through a $400 million investment. At the time, Uber retained ownership of Careem’s ride-hailing…

Türkiye’s leading entrepreneurship program, Workup, backed by Türkiye İş Bankası, has selected 10 technology startups for its 14th cohort. Now in its ninth consecutive year, the accelerator aims to help high-potential ventures scale their business models and access investment opportunities. The new cohort will be managed by İş Bankası’s AI Factory and marks the first time the initial application screening process was powered by AI agents and advanced scoring algorithms developed by Entrapeer. Final selections were made through a collaborative evaluation involving the Workup team, alumni founders, mentors, ecosystem partners, and investors. This year’s program attracted more than 800 applications…

Turkish Airlines Venture Capital Investment Fund (GSYF) has completed its first investment, backing Turkish procurement-tech startup Vendorside, a company developing AI-powered procurement, supply chain, and enterprise decision-making solutions. The investment marks a significant step for both the airline’s corporate venture capital strategy and Türkiye’s growing enterprise AI ecosystem. Vendorside plans to use the new capital to strengthen its artificial intelligence infrastructure, expand its AI agent technologies, accelerate product development, and support international growth initiatives. As organizations worldwide increasingly adopt AI-driven procurement and operational management systems, enterprise software providers are racing to deliver more intelligent, automated, and data-centric solutions. According to…

RemotePass, the global employment, payroll, and spend platform founded in the UAE in 2021, has raised $17.4 million in Series B funding led by EBRD Venture Capital (EBRD), with participation from 500 Global and existing investors Oraseya Capital, 212 VC, Access Bridge Ventures, and Khwarizmi Ventures. RemotePass is also backed by early-stage investors BECO Capital, Endeavor Catalyst, and Wamda Capital. RemotePass is the only global employment platform with over five years of deep experience supporting businesses and workers across the Middle East and North Africa. The company provides 24/7 Arabic and English support, navigates complex local labour laws across the…