Author: Editorial Board

Kudwa, an AI-powered financial intelligence platform designed for modern finance teams, has closed a $1.1 million funding round with participation from 1818 Venture Capital, F6 Ventures, Sparked VC, IM Fndg, and IVP. The round was completed ahead of schedule in late 2025, providing Kudwa with capital to accelerate product development, expand integrations with enterprise systems, and scale its go-to-market strategy across multiple regions. Kudwa positions itself as the “financial brain” for businesses, offering an AI-driven platform that connects with ERP, accounting, and operational systems to deliver real-time financial planning and analysis (FP&A). The system combines automated data pipelines, forecasting models,…

Uzbekistan’s startup ecosystem continued its rapid expansion in 2025, with venture investment and international engagement reaching new highs. According to ecosystem rankings by StartupBlink, the country entered the Top 100 of the Global Startup Ecosystem Index for the first time, recording ecosystem growth of more than 132%. Market estimates suggest venture investment in Uzbekistan surged from $69.5 million in 2024 to more than $329 million in 2025, reflecting growing global interest in the country’s emerging technology sector. A key driver behind this momentum is IT Park Ventures, the venture fund launched in December 2024 under a presidential decree of the…

AI-driven advertising technology company Converted has acquired Mitcha, one of Egypt’s leading e-commerce platforms focused on supporting local fashion designers. The deal represents a strategic move to expand Converted’s data-driven digital commerce ecosystem across the region. By integrating Mitcha’s network of designers, brands, and customers, Converted aims to enhance its ability to build advertising products that convert marketing spend directly into verified sales. The acquisition aligns with the company’s broader vision of creating a commerce infrastructure where advertising performance is measured by real transactions rather than clicks or impressions. As part of the transaction, Hilda Louca, founder of Mitcha and…

Turkish crypto platform Paribu has officially acquired key assets of London-based decentralized smart wallet startup Clave, strengthening its push into decentralized finance (DeFi), tokenization, and on-chain financial services. With the integration of Clave’s team and technology, Paribu aims to expand both its retail and institutional product offerings while accelerating its strategy to bring decentralized finance products to mainstream users. Bringing DeFi Closer to Millions of Users The acquisition will support Paribu’s efforts to build a broader on-chain financial ecosystem. The company already offers products such as Paribu Self, a multi-party computation (MPC) powered decentralized wallet designed to provide users with…

Shorooq has announced its participation in a $1.03 billion funding round for AMI Labs (Advanced Machine Intelligence), a newly launched artificial intelligence company founded by AI pioneer Yann LeCun. The round, which ranks among the largest seed financings ever raised by an AI startup, brings together a global consortium of venture capital firms and technology investors. The funding round was co-led by Cathay Innovation, Greycroft, Hiro Capital, HV Capital, and Bezos Expeditions, valuing AMI Labs at approximately $3.5 billion pre-money. Shorooq joined the round alongside a prominent group of investors including Temasek, Nvidia, SBVA, Mark Cuban, Eric Schmidt, Xavier Niel,…

Saudi fintech startup Muhlah has secured SAR 28.25 million ($7.5 million) in seed funding to expand its Shariah-compliant consumer microfinance services in the Kingdom. The investment round was led by BIM Ventures and Japan’s SBI Group, with additional participation from AlSuhaimi Holding Group and Fakhr Investment Holding Company. Operating under the legal entity Muhlah Zamaniyah for Finance, the company is licensed by the Saudi Central Bank (SAMA) and focuses on delivering regulated, technology-enabled microfinance products designed for Saudi consumers. Muhlah originated as a venture studio spin-off from BIM Ventures, built to provide scalable financing solutions backed by strong governance, regulatory…

Saudi Arabia’s King Saud University (KSU) is strengthening its startup ecosystem with the launch of a new accelerator program backed by a $20 million venture capital fund, created in partnership with Silicon Valley-based venture capital and accelerator network SparkLabs. The initiative is supported by Riyadh Valley Company (RVC), the investment arm of King Saud University, and is designed to help ambitious founders build and scale startups from Saudi Arabia. At the core of the initiative is SparkLabs KSU Fund I, a $20 million venture fund that will invest in high-potential founders at the pre-seed, seed, and Series A stages. The…

Bayer has announced the six startups selected for the 9th cohort of its G4A Startup Acceleration Program, which supports innovative solutions in healthcare and agriculture. The selected ventures will participate in a 100-day development program, gaining access to online training, mentorship, product development support, networking opportunities, and free software packages. They will also have the opportunity to collaborate directly with Bayer. Launched in Turkey in 2018 in partnership with Tenity, the G4A Startup Acceleration Program aims to strengthen the local innovation ecosystem by supporting early-stage startups working on scalable digital solutions in health and agricultural technologies. Selected from 310 Applicants…

UAE-based digital health platform TruDoc Healthcare has raised $15 million in a pre-Series B funding round, with participation from members of the Al Nahyan and Al-Ketbi families, alongside continued backing from existing investor Pulsar Capital. The new capital will support TruDoc’s expansion of its virtual-first healthcare model, which combines telemedicine, chronic disease management, diagnostics, pharmacy services, and hospital-grade care delivered directly in patients’ homes. The company already operates what it describes as the largest hospital-at-home critical care programme in the GCC. Building a Continuous Healthcare Model Unlike traditional healthcare systems that revolve around hospital visits, TruDoc aims to deliver continuous,…

Barcelona-based mobile game studio Cheer Games, founded by the experienced Turkish team behind the hit game Hexa Sort, has raised $4.5 million in a pre-seed funding round, marking the beginning of its global growth journey. The next-generation mobile puzzle studio was established by former senior leaders from AppLovin’s Lion Studios team and the creators of the globally successful Hexa Sort. The company announced that it secured $4.5 million in pre-seed funding from leading global investors. The investment round was led by Makers Fund, with participation from Play Ventures and several strategic angel investors. The capital will be used to accelerate…