Microsoft invests $1.5 billion in UAE-based AI holding company G42
Microsoft is investing $1.5 billion in G42 (also known as Group42), a UAE-based AI holding company, as part of a strategic deal,...
Saudi’s Penny Software raises fresh funds to grow its procurement SaaS platform
Riyadh-based B2B SaaS procurement platform Penny Software has raised undisclosed amount of funding in a pre-Series A round, it announced today. The...
STC Bank launches private beta following approval from Saudi Central Bank
STC Bank has become one of the first licensed digital bank in Saudi Arabia to roll out a private beta. The firm,...
Saudi’s Kitchenara raises $380,000 to build a TikTok for food delivery
Riyadh-based foodtech startup Kitchenara has raised $380,000 from angel investors, it announced in a statement earlier this month. The startup did not...
Bahrain’s Ahlan raises $3 million for its food delivery and customer loyalty platform
Bahrain-based food delivery and customer loyalty platform Ahlan has raised $3 million in its first investment round led by Bahrain’s Hope Ventures,...
Jahez’s bottom line soars: profit more than doubles to $33 million, revenue grows by 11 percent to $476 million
Jahez, the leading Saudi food delivery company, has reported its 2023 earnings, marking a significant (and expected) turnaround in its financial performance....
Foodics eyes $100 million in annual recurring revenue by 2025
Foodics, the leading POS software and restaurant management system for F&B businesses in the Middle East & North Africa, is aiming to...
ISSF invests additional $1.5 million in Propeller taking its investment in Jordanian fund to $5 million
ISSF (The Innovative Startups and SMEs Fund) has invested additional $1.5 million in the Jordanian VC firm Propeller’s second fund to take...
PriceOye, a Pakistani ecommerce marketplace for electronics hits $40 million in annualized GMV
PriceOye, an Islamabad-headquartered ‘managed’ ecommerce marketplace that sells electronics, mainly mobile phones, in Pakistan, has hit $43 million in annualized sales, its...
Breadfast doubles revenue in 2023, valuation hits $257 million
Breadfast, the leading grocery delivery platform in Egypt, doubled its revenue in USD terms in 2023, the recently announced financials of one...
