December 27, 2024 Alif announced it had raised a $20 mln debt investment from Accial Capital, a US-based impact private credit fund manager. The deal was facilitated with advisory support from Nairang Capital and TMT Global Advisors. The funds will be allocated to enhance Alif’s Nasiya service’s capabilities, strengthen its market position, and promote financial inclusion in…
Mountain View, California, December 27, 2024 — inDrive, the global ride-hailing unicorn, has announced a strategic investment in Pakistan’s emerging grocery delivery platform, Krave Mart. The investment is part of inDrive’s broader effort to explore opportunities in emerging markets through its dedicated venture capital arm. The VC division, launched last year, is set to deploy…
SAN FRANCISCO — Elon Musk’s artificial intelligence company, xAI, has secured $6 billion in a Series C financing round, bringing its total funding to $12 billion. This announcement follows a $6 billion raise earlier in May, as reported by TechCrunch on Wednesday. The latest round saw participation from prominent investors including Andreessen Horowitz, BlackRock, Fidelity, Lightspeed, MGX, Morgan Stanley, OIA,…
Riyadh, Saudi Arabia — EdfaPay, a leading fintech platform in Saudi Arabia, has successfully raised $5 million in a Pre-Series A funding round. The investment was led by OmanTel Innovation Labs, with participation from Aljabr MENA and Waad Investment. The funding will bolster EdfaPay’s presence in Saudi Arabia while driving its strategic expansion across the MENA region and into Pakistan. The…
Riyadh, Saudi Arabia – Merak Capital, a prominent technology-focused investment firm, has unveiled its SAR 306 million gaming fund and accelerator, Exel by Merak, to drive the growth of gaming startups and position Saudi Arabia as a global hub for gaming innovation. The launch event, held on November 17, 2024, at the VOV Gaming Centre in Riyadh,…
Bubbl Raises $350,000 in Pre-Seed Funding, Eyes Global Expansion Riyadh, Saudi Arabia – Bubbl, the fast-growing social networking platform, has secured $350,000 in a Pre-Seed funding round led by prominent angel investor Abdullah Al-Dosari. The app, founded by Aya Al-Hammoud and launched in March 2024, has quickly become a sensation, amassing over 60,000 daily active users…
Pakistan’s Startup Ecosystem Sees Strong Investment Surge with $32 Million in New Funding Pakistan’s burgeoning startup ecosystem is showing signs of recovery, attracting $32 million in investment from a range of sources during the first four months of the current financial year. According to Invest2Innovate, local startups secured $15 million in Q1 and another $17…
Sharjah, UAE — Warburg AI, an emerging innovator in artificial intelligence for the financial sector, has raised $250,000 in seed funding to accelerate its mission of reshaping financial services through advanced AI-driven technologies. Founded in September 2024, the company has rapidly attracted investor confidence, securing its first funding round just months after its inception. Based in…
Riyadh, October 2024 – Beta Lab, a deep tech fund and innovation studio, has launched a groundbreaking USD 300 million fund at the Future Investment Initiative (FII) 2024. Designed to stimulate cross-border innovation, this fund aims to bridge the Middle East and Southeast Asia, empowering technology-driven startups to expand into high-growth markets and tackle global challenges in…
Lahore-based coworking platform COLABS has raised $2 million in a pre-Series A funding round led by UAE’s Shorooq Partners, with participation from Saudi Arabia’s Waad Investment. This latest investment brings COLABS’ total funding to over $5 million, with previous rounds backed by prominent investors like Indus Valley Capital, Zayn Capital, and Fatima Gobi Ventures. Founded…
