Author: Mahdeehassan

Buildnow, a Saudi-based company specialising in supply chain solutions for the construction sector in the Middle East, has announced the successful closure of a new $9.7 million funding round. The round was led by STV and Arbah Capital, with additional funding from a mix of debt financing, reinforcing the company’s expansion plans in the market. Buildnow provides “Build Now, Pay Later” solutions, aiming to support SMEs in the construction industry through a specialised credit management platform and an integrated supply chain network. In March, the company closed an initial seed funding round worth SAR 35.3 million ($9.4 million), which included…

GO Sport Opens its First Store in Ramallah, Palestine. GO Sport is thrilled to announce the opening of its first store in Palestine, located in Ramallah — marking a significant step in the brand’s expansion across the Middle East. Globally recognized for their high-performance, multi-branded sporting goods, this store not only reinforces GO Sport’s commitment to delivering high-quality sports and lifestyle products but also represents a meaningful investment in the Palestinian market, fostering local development and empowering the community. The new Ramallah store offers an exceptional selection of sportswear, footwear, and equipment, catering to fitness enthusiasts, outdoor adventurers, and team…

Dubai, UAE –– CNTXT and Oracle continue to advance their strategic collaboration, reinforcing their shared vision for AI innovation and enterprise transformation. Their collaboration, which was highlighted during Oracle Cloud World Tour, is focused on helping businesses and government entities accelerate AI adoption with secure, scalable solutions. During Oracle Cloud World, Mohammad Abu Sheikh, Founder and CEO of CNTXT, and Cherian Varghese, Senior Vice President of Cloud Infrastructure, AI for EMEA at Oracle, engaged in an in-depth discussion on AI readiness, data security, and the evolving AI landscape. Their conversation underscored the growing role of AI in enterprise operations and…

Myne, a groundbreaking wealth and asset tracking platform, has announced today that the company has raised $2 million and has successfully closed its pre-seed funding round. The new investment round was led by Scene Holding, followed by Raz Holding with participation from Plus VC, the most active VC in the MENA, Annex Investments, and a group of strategic angel investors. This milestone is set to propel Myne toward its mission of redefining how individuals and businesses track and manage their finances. Launched in 2024, Myne was inspired by Karim’s conversation with his university friend, now a founding investor, about the…

Foundation Ventures, a Cairo-based venture capital firm, has announced the successful first close of its $25 million fund, “FVFII.” This new fund underscores the firm’s mission to strengthen Egypt’s entrepreneurial landscape by driving innovation and supporting startups from early-stage development to regional and global expansion. A portion of the capital will also be directed toward investing in promising African startups. The fund has attracted prominent investors, including the Egyptian American Enterprise Fund (EAEF), the Micro, Small, and Medium Enterprise Development Agency (MSMEDA), and Onsi Sawiris. Their confidence in Foundation Ventures represents a shared vision to foster a robust entrepreneurial ecosystem…

Saudi Arabia’s MSME finance ecosystem at the heart of economic diversification and financial inclusion efforts Saudi Arabia, February 2025: The pivotal role of Saudi Arabia’s finance ecosystem for micro, small, and medium-sized enterprises (MSMEs) in advancing the Kingdom’s economic diversification and financial inclusion objectives is explored in a new report released by Oxford Business Group (OBG), in collaboration with the Kafalah programme. Titled, “MSME Empowerment in Saudi Arabia,” the report examines the country’s strategic efforts to drive the growth of MSMEs by improving access to finance and fostering entrepreneurship. It highlights how the Kingdom is leveraging tailored financial solutions to…

Abu Dhabi, February 4, 2025 – Smpl Fund I, a $10 million venture capital fund launched by Smpl Holdings, has announced a strategic investment of $250,000 in multiple AI and technology companies within the Qora71 portfolio. Smpl Fund I, which focuses on supporting AI and tech startups across the MENA region and beyond, provides seed capital alongside hands-on strategic support to accelerate the growth of innovative companies. Qora71, a venture investor syndicate and a member of the Hub71 Angel Program, offers accredited investors the opportunity to invest on a deal-by-deal basis, without minimum commitments or fees. The syndicate’s portfolio includes…

Revie, the tech-enabled platform revolutionising home and commercial renovation in Saudi Arabia, is proud to announce the successful closure of a $2.5 million seed funding round led by Sanabil Venture Studio by Stryber. This investment marks a significant milestone for Revie, enabling the company to accelerate its mission of delivering an innovative, end-to-end renovation solution for homeowners, investors, and businesses. The funding will be allocated toward scaling operations, enhancing technology, and improving customer experience. Revie’s platform simplifies the traditionally complex renovation process by offering customers a seamless experience from design and planning to execution through a curated network of contractors…

The Eco-friendly ride option supported by the TGA will enable customers to contribute to carbon removal efforts through MEWA’s tree-planting initiatives powered by the Sedrah Program. Riyadh, Saudi Arabia – January 2025 – CarbonSifr, a pioneering climate-tech company and a participant in the inaugural Sedrah Program under MEWA (Ministry of Environment ,Water and Agriculture) and Careem Rides, focused on facilitating everyday reliable and convenient commuting options for the region through the Careem app, are announcing the launch of Careem’s Eco-friendly ride option in Saudi Arabia with support from the Transport General Authority (TGA) and MEWA’s Sedrah Program. Eco-friendly rides, launched…

Oxford Business Group spotlights the Kingdom’s progress in The Report: Saudi Arabia 2024 Riyadh, January 2025: Saudi Arabia’s strategic advancements under the Vision 2030 framework and its commitment to sustainable innovation form the cornerstone of the latest report released by global research and advisory firm Oxford Business Group (OBG). The Report: Saudi Arabia 2024 examines the transformative policies driving the Kingdom’s economic diversification, with a focus on key developments in infrastructure, tourism, health care and financial services, among other sectors. The publication highlights Saudi Arabia’s growing role as a regional and international centre for investment, showcasing flagship giga-projects such as…