MENA Startups Raise Over $30M in Early-Stage Funding
The Middle East and North Africa (MENA) region has seen a surge in early-stage funding, with several startups securing capital this week. Notably, Climaty AI, a climate and marketing technology company, raised $2 million to kickstart its operations.
Among the notable deals, Aydi, a UAE-based agritech platform, secured the largest seed round, raising $7.5 million. This investment will support Aydi's mission to revolutionize agriculture in the regions. Meanwhile, communication safety startup YAL AI raised $12 million from undisclosed investors, indicating strong confidence in its innovative solutions.
In the fintech space, UAE-based Upfront raised an eight-digit pre-seed funding round, a mix of equity and debt. The company aims to transform financial services in the regions. Additionally, Dubai-based super app Careem acquired a minority stake in UAE-based car rental and subscription platform Swapp, expanding its offerings.
VoLo Earth Ventures, a venture capital firm, has been actively investing in the regions. Besides Upfront and Aydi, it has closed a $135 million fund focused on climate technologies, investing in companies like XGS Energy and Cambium. This fund aims to support innovative climate change solutions in the MENA region.
Other startups that raised funds include Tokinvest, a UAE-based real-world asset tokenization marketplace, which secured $3.2 million in pre-seed funding. Saudi Arabia-based digital signature platform Sadq also secured $1.5 million in a pre-Series A extension round.
The MENA region's startup ecosystem continues to thrive, with early-stage funding reaching new heights. This week's funding activities, totaling over $30 million, demonstrate investors' confidence in the region's innovative startups and their potential to drive growth and change across various sectors.
