Author: Editorial Board

Stitch, the operating system built for modern financial institutions, today announced it has raised $25 million in Series A funding led by Andreessen Horowitz (a16z). The investment marks a16z’s first in the GCC and brings Stitch’s total funding to $35 million. In addition to a16z, existing investors Arbor Ventures, COTU Ventures, Raed Ventures, and SVC also participated in the round. Despite spending over $1 trillion on digital transformation in the past three years, most financial institutions are still running on the same fragmented, legacy infrastructure that has defined the sector for decades. Globally, banks spend $700 billion a year on…

Khwarizmi Ventures announced today the launch of Khwarizmi Venture Capital Fund II, dedicated to backing ambitious founders building technology companies across the GCC market. The fund successfully completed its first close in February, with signed commitments exceeding SAR 270M ($70M+) from institutional investors and leading Saudi family offices. Khwarizmi plans to deploy capital into its first initial investments in the coming period. About Khwarizmi Ventures Khwarizmi Ventures launched its $70M Fund I in 2021 with the vision of enabling algorithms that will shape the future. Today, Khwarizmi is one of the most active early-stage investors in the Kingdom, having backed more than 30 startups, including…

CredibleX today announced its Series A funding round led by Mubadala Investment Company, an Abu Dhabi sovereign wealth fund, with participation from existing investor Further Ventures as part of a broader $15 million equity raise. CredibleX is a UAE-based SME licensed lender specialising in providing small and medium-sized enterprises (SMEs) with fast access to working capital through its digital platform. The business has differentiated itself through its focus on embedded partnerships, enabling it to efficiently scale across distribution partners and SME networks. Founded in 2023, CredibleX has grown into a leading embedded finance lender in the UAE, working with over…

Bluedot, which provides access to more than 80% of public EV charging stations across the United States, has become part of Epic Charging, one of the country’s fastest-growing EV charging software platforms. EV charging software provider Epic Charging has acquired Palo Alto-based EV fleet charging management and payment platform Bluedot. As part of the deal, Bluedot’s brand, platform technology, intellectual property, customer contracts, and team members have joined Epic Charging. The acquisition was officially completed on May 1. Founded by Turkish entrepreneurs Ferhat Babacan and Selinay Parlak, Bluedot developed a unified payment solution for fleet drivers, eliminating the need to…

Türkiye-based mobile game studio Mindtail has closed a $2 million pre-seed funding round led by APY Ventures, with participation from Inveo Ventures and Ak Portföy GSYF. Mindtail plans to use the fresh capital to expand its team, further develop its AI-native production infrastructure, and accelerate marketing tests. The company also aims to triple the size of its team in the short term, while preparing to announce its first game in the near future. Founded by R. Tamer Özgen, Umut Yıldız, Sarper Karabağ, and Doğuşcan Öztürk, Mindtail is focused on building the next generation of hybrid casual puzzle games through an…

Day one of the inaugural GITEX AI Kazakhstan has officially wrapped up in Almaty, establishing what organizers are calling the most ambitious technology gathering across Central Asia and the Caucasus. Operating as the region’s largest AI-first technology, startup, and digital investment event, the conference is hosted by the Ministry of Artificial Intelligence and Digital Development Kazakhstan, in close partnership with Astana Hub and the Akimat of Almaty. Held under the patronage of the President of the Republic of Kazakhstan, H.E. Kassym-Jomart Tokayev, the summit marks a significant milestone for the rapidly growing Central Asian innovation ecosystem. The opening day was characterized by packed halls and high-stakes discussions, underscoring genuine momentum…

Siin, the fastest-growing live shopping marketplace in MENA, today announced new funding, bringing its total capital raised to $3 million. The round was led by VentureSouq and Shift Group, with participation from Plus VC, Oqal, and other prominent regional investors including Suhail Al Gossaibi, Mussab Al Hakami, and Abdulla Al Hashmi. Siin is also backed by leading regional programs, including Hub71, part of Abu Dhabi’s global tech ecosystem, and InspireU, the accelerator program by Saudi Telecom Company (stc). Founded in 2024 by seasoned marketplace operators, Hesham AlSaati (ex-Delivery Hero), Ahmed Allawi (ex-Tap Payments), and Khaled Albalooshi (ex-Telp). Siin is bringing…

Saudi-based healthtech startup Madeed has closed a $925,000 pre-seed round to accelerate the development of its personalised preventive healthcare platform. The round saw participation from SEEDRA Ventures, Unity Investment Partners, and Seen Growth, alongside previously announced backers including Vision Ventures and a group of Saudi angel investors. The fresh capital will be used to further build Madeed’s product offering and expand its clinical and laboratory partnerships, with an initial focus on scaling across Saudi Arabia. Founded by Dr. Adam Batayneh, Madeed is positioning itself at the intersection of AI, longevity, and preventive care. The platform leverages advanced lab data and…

Saudi digital health startup Metafare has secured $1 million in its first funding round, backed by Harmonics Ventures and a group of family offices, as it looks to scale its AI and virtual reality-driven healthcare platform. The investment will be used to accelerate growth across Saudi Arabia, enhance the company’s AI-powered personalisation capabilities, and expand its health content library. Metafare also plans to enter broader Gulf markets in the near future. Founded to redefine how healthcare is delivered, Metafare combines artificial intelligence with virtual reality to create immersive, remote health experiences—removing the need for traditional clinic visits. Its platform offers…

Uzbekistan-based SaaS startup AliPos has secured a new $200,000 investment round at a $3.5 million valuation, with backing from Imkon Ventures and Nexus Capital Management Angel Club. The round was led by Imkon Ventures, marking continued investor confidence in AliPos as it scales its digital solutions for the HoReCa sector. The participation of Nexus Capital Management Angel Club — one of the country’s first structured angel groups operating with a portfolio-driven approach — signals a broader shift in how early-stage capital is being deployed in Uzbekistan. Founded in Samarkand by Mukhammad Ali Akbarov, Jonibek Miralimov, and Komil Khamidov, AliPos provides…