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MENA's Digital News

Logo of telegram channel technologyinmena — MENA's Digital News M
Logo of telegram channel technologyinmena — MENA's Digital News
Channel address: @technologyinmena
Categories: Business
Language: English
Subscribers: 372
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On this channel, you will be the first to know the latest editor-curated news & updates about MENA's digital economy, 100% free, updated from Sunday to Thursday
learn more: digitaldigest.me
for direct inquiries contact @rachagh

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2021-09-02 14:54:30 Lacaisse.ma, Morocco-based smartPOS startup, raised funding from WITAMAX One, a joint-venture fund by Southbridge A&I and AXXAM family office, value undisclosed. The startup was founded in 2016 and currently has over 1000 stores in their network across 3 Moroccan cities. https://b.link/8nenmw

Eat Just, US-based foodtech company and part of Eat Beyond Global Holdings Inc, partners with Doha Venture Capital (DVC) and Qatar Free Zones Authority (QFZA) to launch a cultivated meat facility in the country. The company had raised funding from Qatar Investment Authority (QIA) in March of this year. https://b.link/skp27p

Abu Dhabi Securities Exchange (ADX) signed an agreement with Nasdaq to launch a derivatives market this year to deliver marketplace technology solutions, including matching, real-time clearing and settlement technology. https://b.link/h75aex
34 views11:54
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2021-09-01 17:12:29 Diggipacks, Saudi-based fulfillment & delivery solutions provider, acquired FWRUN, Egypt-based e-commerce solutions provider, for an undisclosed value. This will aid Diggipack’s expansion to Egypt. Diggipacks had raised $4M in funding from National Building and Marketing (NBM) in April. https://b.link/798avk

Abu Dhabi’s Department of Government Support, represented by the Digital Authority, has launched a new internet domain: .abudhabi - 550 names have been registered to the domain so far. https://b.link/4m7ten
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2021-09-01 12:17:32 MOX, SOSV’s acceleration program for cross-border startups, graduated their 11th cohort of 7 startups this week, of which 1 startup was from Egypt: 1Trolley, and received $150k in funding as part of the program. 1Trolley is an Egypt-based grocery delivery marketplace, and has reached over 14k orders in July with over 70% growth month on month. https://b.link/ygae2c

Y Combinator
held the demo day for their Summer 2021 cohort, from which 8 startups from MENA graduated: Odiggo (Car service marketplace, Egypt), Amenli (Insurtech, Egypt), Pylon (infrastructure management Saas, Egypt), ShipBlu (Logistics, Egypt), Nomod (Payment solution, UAE), Baraka (investment app, UAE), Freterium (supply-chain management, Morocco), and Chari.ma (B2B marketplace, Morocco). Startups that go through the program receive $125k in funding. https://b.link/6dxmcb [cohort startups: https://b.link/7z3b5v ]

Amethis, France-HQ investment fund manager for Africa, announces they have closed a $101M in first closing for its Amethis Mena Fund II vehicle, targeted on expanding SMEs in North Africa and the Middle East. It plans to make investments ranging from 5M-15M euros ($6M-$18M), and will primarily target entrepreneurs and SMEs in Morocco, Egypt, Jordan and Tunisia. https://b.link/qm9szx
44 viewsedited  09:17
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2021-09-01 12:15:43 August’s Most Read Articles:

MyHome, Kuwait-based on-demand home services platform, raised $1.75M in pre-series A (bridge) funding at a valuation of $12.5M led by Rasameel Investment Company and angel investors. The startup was founded in 2018, and operates in Kuwait, Riyadh, and Dammam. It plans to use the funding to expand to Jeddah, Mecca, and Al-Medina, as well as into the UAE. https://b.link/488sp7

Bookr, Kuwait-HQ salon booking Saas solution, raises $1M in seed funding led by Desert Ventures. The startup was founded in 2015, and provides cloud-based appointment management features. https://b.link/xg6kbe

Odiggo, Egypt-based digital marketplace for automotive spare parts, raises $2.2M in seed funding from Y Combinator, 500 Startups, and Plug and Play Ventures, Seedra Ventures, LoftyInc Capital, and angel investors. The startup is part of Y Combinator’s summer cohort and will be graduating from the accelerator at the demo day next week. It had announced $600k in seed funding in January of this year, it’s unclear if the new round is inclusive of the previous value or not. https://b.link/gvu5qf

MaxAB, Egypt-based B2B eCommerce platform, raises an extension of $15M to its series A round announced in July from existing investors, bringing the total of the round to $55M. The startup is also announcing the acquisition of WaystoCap, Morocco-based B2B e-commerce platform, for an undisclosed value. WaystoCap was founded in 2015, and was part of Y Combinator’s 2017 program, and currently services over 8k retailers in Morocco. https://b.link/tb2gyh

The Economist publishes “The Safe Cities Index 2021” report that ranks 60 cities across 76 indicators covering digital, health, infrastructure, personal and environmental security, including cities across the Middle East. Abu Dhabi ranks the highest in the region on all indicators, while Cairo and Kuwait rank the lowest in the region on all indicators. Regional cities also make up the bottom ranks on environmental safety, Kuwait city particularly is ranked the most at risk in the world by the indicator. https://b.link/krm8xz
35 views09:15
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2021-08-31 17:45:15 Oman’s Ministry of Economy has announced eight initiatives to support the small and medium enterprise (SME) sector including: eCommerce Programme Initiative to support online retailers and services providers through local and international promotion, as well as, incubators for the manufacturing, creative industries, and agricultural manufacturing. https://b.link/pq8644

Bahrain’s Telecommunications Regulatory Authority (TRA) issued the first license to execute e-signature and trust services, to Bahrain’s Electronic Network for Financial Transactions (BENEFIT) Company. https://b.link/8228xf

​Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market waives minimum trading commission starting tomorrow, September 1st, in line with making trading more accessible to retail investors. https://b.link/46unnu
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2021-08-31 17:45:01 Eyewa, UAE-HQ eyewear e-commerce platform, launches its first retail store in the UAE. The startup had launched their first store in Dhahran, Saudi in February and recently raised $21M in series B funding. https://b.link/75x672

Foodics, Saudi-based F&B Saas platform, launches two new solutions Foodics Now (for restaurants) and Foodics Retail (for retailers), each of which allows entities to start their own website and mobile app to sell online. This would mark Foodics’ first venture beyond the F&B industry. The startup says they have more than 53k terminals catering to over 12k stores in 25 countries, and more than 200 employees in five countries. https://b.link/5z4rmt

Al Moammar Information Systems Co (MIS), publicly-traded Saudi IT systems and services company, signs an MoU with Al-Rajhi Capital to launch a shariah-compliant investment fund of $266.6M (1B SAR). The fund will invest in technology, digital infrastructure, and medical equipment. MIS also signed an MoU with Saudi Fransi Capital to establish a private investment fund with an initial target size of
$40M (150M SAR) to invest in venture capital opportunities in the technology sector in Saudi. https://b.link/m2t6fy
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2021-08-31 14:00:24 Starzly, UAE-based celebrity engagement platform, raises a seed funding from Nama Ventures, 500 startups and Seedra Ventures, Amount undisclosed. Starzly was launched in 2020 and hosts over 1000 celebrities on the platform and over 200k users. (AR) https://b.link/nfjrbx

OceanX publishes “Healthtech In MENA” report in partnership with the Digital Digest, Smarkk, and Qashida Group. The report looks at healthtech trends and investments in 2020 in MENA. According to the report, investments in healthtech startups represented 14% of capital raised between Q4’19 & Q3’20, with the UAE & Egypt capturing the highest number & value of the investments. [full report: https://b.link/68af8h ]

Flip, US-based social commerce startup, raises $28M in series A funding led by Streamlined Ventures and joined by Mubadala Capital Ventures and other global investors. The startup was founded in 2019 by a serial entrepreneur from the Middle East, it has over 1M downloads to date and has shipped over 30k orders in the last quarter. https://b.link/hrfs5a
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2021-08-30 17:03:48 Aumet, Jordan-based B2B marketplace for healthcare providers & distributors, officially expands to Saudi Arabia, and announces plans to expand to Turkey in October. Aumet had raised a six-figure pre-series A funding led by Shorooq Partners in March, and part of Endeavor Jordan’s “SURGE – Scale-up Roadmap for Growing Enterprises” program. [Via linkedin https://b.link/r74ucv]

BznsBuilder, Egypt-based business planning solution startup, expands to Indonesia in partnership with Indonesia Prima, a local entrepreneurship support entity. The startup was founded in 2020, and has partnerships with multiple programs in Egypt such as NilePreneurs, and Logivators. https://b.link/yue3ym

Kanari AI, US-HQ AI-baised Arabic speech recognition solution, raised $475K in pre-seed funding from Qatar Science and Technology Park (QSTP) and Alchemist Accelerator (US). The startup was founded in 2020 and through their technology allows live speech recognition, transcription, subtitles, etc. https://b.link/8qaxu6

Dostavista, Russia-HQ same-day delivery platform, raised $35M in Series C funding from multiple global investors including Mubadala. The startup also rebranded itself as “Borzo”. It was founded in 2012, and operates mainly in SouthEast Asian markets, as well as Turkey, Brazil, and Mexico. https://b.link/8xtgen

Signzy, India-HQ banking workflow automation platform, signs a strategic partnership with Seed Group, the Private Office of the Royal Family of Dubai’s Sheikh Saeed bin Ahmed Al Maktoum, to aid its expansion into the UAE market. https://b.link/z7ja8n
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2021-08-30 12:51:44 The Saudi Communication & Information Technology Commission (CITC) announced that the three key telecom operators in the Kingdom: STC, Mobily and Zain, have entered an agreement that will allow telecom users in rural areas to switch between operators’ networks based on availability, and with no extra cost, to ensure maximum coverage for consumers. This would increase coverage of all telecom operators in the deal by at least 100% from its existing state. (AR) https://b.link/jwhwqr

The Abu Dhabi Securities Exchange announced that it is extending its trading hours by one hour (now 10am to 3pm) starting October 3rd and cutting trading fees by 50% (to 0.025%) from September 1st. https://b.link/dee39a

Channels, US-based communication software for event management, raised $520k in seed funding, led by Sahra Growth Capital (UAE). The platform was founded in 2019 and already has operations in the UAE. https://b.link/dusu9p

The Economist publishes “The Safe Cities Index 2021” report that ranks 60 cities across 76 indicators covering digital, health, infrastructure, personal and environmental security, including cities across the Middle East. Abu Dhabi ranks the highest in the region on all indicators, while Cairo and Kuwait rank the lowest in the region on all indicators. Regional cities also make up the bottom ranks on environmental safety, Kuwait city particularly is ranked the most at risk in the world by the indicator. https://b.link/krm8xz
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2021-08-29 17:09:34 Wamda and Microsoft for Startups have published “The impact of Covid-19 on the state of mental health & wellbeing of entrepreneurs in MENA” report in partnership with EMPWR and H.A.D Consultants. The report surveys 101 regional entrepreneurs (50% in the UAE) on the impact of COVID-19 on their mental health and wellbeing as the pressures of the pandemic increased. 54.7% of the surveyed said that fund raising is the most stressful factor during the pandemic, followed by scaling their business and the pandemic itself at 33.7% each. 60.5% also said that the pandemic has changed both their overall personal and professional priorities. https://b.link/e4pp8g [full report: https://b.link/xe6rcp ]
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