Dash Venture Labs: Our Weekly Picks (Issue No.122)

VENTURE FUNDING ACTIVITY        

Podeo Secures $5.4 Million in Series A Funding Led by Oraseya Capital to Boost Podcast Discoverability

Podeo, the largest podcast distribution platform, has raised $5.4 million in Series A funding led by Oraseya Capital. This investment aims to tackle the critical issue of discoverability as the podcasting market is projected to grow from $27 billion in 2023 to over $234 billion by 2030.

Founded in 2020, Podeo offers unique integrations with radio stations, airlines, and messaging apps, providing over 100,000 creators access to more than 50 million listeners. The platform has expanded regional podcast supply by 50 times and increased revenue six-fold in the past year.

“We are committed to empowering creators to become the next generation of global audio stars, providing them with cutting-edge tools to captivate diverse audiences around the world,” said CEO Stefano Fallaha. The funding will accelerate Podeo’s growth and enhance its AI capabilities, solidifying its position in the evolving audio landscape.

Al Menu Secures 38 Million SAR Funding Led by Al Majdiah Investment to Expand Restaurant Operations

Al Menu, a restaurant operations specialist, has closed a funding round of 38 million Saudi Riyals, led by Al Majdiah Investment. The investment will support the company’s expansion in managing restaurants and cafes across the Kingdom.

CEO Mamdoh Ali stated the goal is to provide operational solutions that reduce costs and boost workforce efficiency in the growing sector. Nasser Al Majid, CEO of Al Majdiah Investment, noted that the funding aligns with Vision 2030 goals, enhancing the hospitality industry’s efficiency and investment appeal.

This funding positions Al Menu to further strengthen its service offerings in Saudi Arabia's key economic sector

Quantum Secures $7 Million Pre-Series-A Funding from HearstLab

Quantum, Saudi Arabia’s leading adtech platform, has completed a $7 million Pre-Series-A funding round, with investment from HearstLab, marking its first venture in the Middle East. Founded in 2020 by CEO Omar Malaikah and CTO Sara Bin Ladin, Quantum connects advertisers with publishers while providing data analytics to enhance campaign effectiveness.

“This partnership is more than just an investment; it’s a strategic alliance that will enhance our capabilities and visibility and create new opportunities across the region. With HearstLab’s extensive expertise across sectors like media, fintech, and analytics, we are confident this collaboration will propel us to new heights,” said Bin Ladin.

HearstLab has invested in over 70 women-led startups globally, and Eve Burton, Chairwoman of HearstLab, emphasized their commitment to supporting female entrepreneurs in the GCC.

Bazzar Gate Secures $1 Million to Expand E-Commerce Platform

Bazzar Gate has raised $1 million in funding to enhance its e-commerce platform, Partners, which allows users to set up dropshipping businesses in just three minutes. Since its launch in January 2024, Partners has attracted over 6,000 users by simplifying online store creation with essential services like inventory management and payment gateways.

The funding will be used to scale the platform, improve user experience, and increase marketing efforts. “Receiving this investment validates the vision we have for Partners and its potential to redefine e-commerce entrepreneurship. We’re committed to providing a platform where anyone can become an e-commerce business owner in minutes, without the traditional barriers of high costs, logistics, or time investment,” said founder Mohammad AlMutawa.

With plans for regional expansion, Bazzar Gate aims to leverage its logistics and payment solutions to shape the future of online retail in the Middle East

Mstack Secures $40 Million in Series A Funding Round Co-Led by Lightspeed and Alphawave

Mstack, a specialty chemical manufacturing platform, has raised $40 million (approximately INR 335 crore) in a Series A funding round co-led by Lightspeed and Alphawave, with debt support from HSBC Innovation Banking.

Founded in 2022 by Shreyans Chopra, Mstack plans to expand in North America and other regions while enhancing its R&D capabilities in India and the Middle East. The platform offers a comprehensive solution for sourcing specialty chemicals, integrating all processes into one system.

Currently serving sectors like oil and gas and personal care, Mstack aims to enter agrochemicals and pharmaceuticals. The company reports significant growth and achieved profitability in June 2025. Bejul Somaia of Lightspeed highlighted the potential for Mstack to capitalize on rising demand and shifting supply chains in the specialty chemicals market.

ENTREPRENEURSHIP / STARTUPS        

UAE Launches Dubai Intellectual Property Hub to Boost Innovation

The Dubai Future Foundation (DFF) and the UAE Ministry of Economy have launched the Dubai Intellectual Property Hub (DIPH), the UAE's first centralized platform for intellectual property (IP) and intangible assets (IA). This initiative aims to empower innovators, artists, entrepreneurs, researchers, and startups.

The announcement occurred at the “IP2024: Glimpse on the Future of IP” event at the Museum of the Future, where a Memorandum of Understanding (MoU) was signed. Abdullah Bin Touq Al Marri, UAE Minister of Economy, highlighted the hub's role in enhancing Dubai's innovation ecosystem and supporting various sectors.

The DIPH will streamline IP registration and serve as a comprehensive resource for IP protection strategies. Khalfan Belhoul, CEO of DFF, emphasized the hub's potential to drive economic growth by providing essential tools for securing and formalizing innovations. This launch marks a significant step in strengthening IP protections for the creative industries in the UAE.

Agility Global to Invest in Fund Supporting Early-Stage MEA Companies

Agility Global has announced its corporate venture capital arm will invest in a new fund aimed at early-stage companies in the Middle East and Africa (MEA). Managed by Dubai-based Global Ventures, the fund will focus on sectors like clean energy, digital logistics, e-commerce, healthcare, and agri-tech.

Tarek Sultan, Chairman of Agility Global, highlighted the region's entrepreneurial potential and the importance of supporting women-led funds, noting that only 15% of VC investors are women. Noor Sweid, Founder of Global Ventures, expressed gratitude for Agility's support, emphasizing the fund's alignment with industries undergoing technological transformation.

With this investment, Agility Global aims to strengthen the startup ecosystem in the MEA region, helping to drive innovation and growth.

Indonesian Entrepreneurs Debut at Amazing Indonesia Trade Expo in Jeddah

A group of Indonesian entrepreneurs made their inaugural entrance into the Saudi market this week during the Amazing Indonesia Trade Expo, held from September 26 to 28 in Jeddah. Organized by the Indonesian Consulate General, the event showcased a diverse range of goods and services from the world's largest Muslim-majority nation.

The entrepreneurs also took the opportunity to conduct market surveys, visiting local stores and businesses in Jeddah to explore potential collaborations.

The Amazing Indonesia Trade Expo not only provided a platform for these entrepreneurs to enter the Saudi market but also fostered connections that could lead to fruitful collaborations in the future.

Entlaq and Savannah Join Forces to Support Sudanese Migrant Entrepreneurs in Egypt

Entlaq, Egypt’s leading entrepreneurship think tank, and Savannah, a Sudanese incubator, have signed a Memorandum of Understanding (MoU) to aid Sudanese migrant and refugee entrepreneurs in Egypt. The partnership aims to help these individuals transition their businesses into the formal economy through support, training, and advocacy.

Effective immediately, the MoU focuses on formalizing migran enterprises, providing entrepreneurial assistance, and promoting economic integration. The collaboration will offer workshops, mentorship, and advisory services to equip entrepreneurs with necessary skills.

Yousif Yahya, Founder of Savannah, noted the historical ties between the two nations and the potential for collaboration. Omar Rezk, Co-Founder of Entlaq, emphasized the importance of inclusivity in Egypt’s entrepreneurial ecosystem, stating that focus groups will identify specific challenges faced by Sudanese entrepreneurs to inform future actions.

This partnership underscores both organizations’ commitment to empowering migrant communities and fostering economic growth.

Bokra and CIC Launch EGP 10 Million Fund for Student Entrepreneurs

Bokra, the MENA region’s first goal-achiever app, has partnered with the Canadian International College (CIC) to establish a groundbreaking EGP 10 million fund to support student entrepreneurs in Egypt.

At the launch event, which drew over 1,000 students, Ayman El-Sawy, CEO of Bokra, highlighted the initiative's aim to empower young innovators with essential resources and mentorship.

CIC Chairman Magdy El Kady praised the collaboration for creating opportunities that drive positive change in society. The partnership also introduces the "Bokra Academy," offering free online courses in key areas like marketing and technology, equipping students with vital skills.

Graduates will benefit from fast-tracked access to the fund, enabling them to turn their entrepreneurial ideas into reality and contribute to Egypt’s economic growth.

TECHNOLOGY        

UAE Strengthens Global Leadership in Artificial Intelligence

The United Arab Emirates (UAE) is advancing as a global leader in Artificial Intelligence (AI), ranking third in attracting AI talent. Driven by significant investments and a vision for innovation, the UAE aims to enhance its capabilities in key sectors like healthcare and education.

Kiril Evtimov from G42 highlighted Microsoft’s $1.5 billion investment as evidence of the UAE’s potential. Recent partnerships with tech giants aim to position the UAE as a hub for AI innovation.

Ahmad Alkhallafi from Hewlett Packard Enterprise noted that the UAE Strategy for Artificial Intelligence is set to yield substantial economic benefits by 2031, underscoring the commitment to developing local talent and fostering public-private collaboration.

ADQ Partners with EQTY Lab to Enhance Responsible AI Adoption

ADQ, an Abu Dhabi-based investment company, has teamed up with Swiss AI solutions provider EQTY Lab to promote the responsible integration of AI technologies across its portfolio. This partnership supports ADQ’s goal of sustainable value creation and aligns with the aspirations of Saudi Vision 2030.

The initiative aims to enhance operational efficiency and foster innovation across key sectors, including healthcare, energy, and manufacturing. ADQ will introduce an AI Integrity suite to ensure the reliability and transparency of AI models.

Hosted at Abu Dhabi’s Al Dhafra Solar PV plant, ClimateGPT will be deployed by key ADQ companies like Masdar and ADNEC Group. By 2030, AI is projected to significantly boost the GDP of the Middle East, with the UAE expected to experience a 14 percent increase.

Zebra Technologies Unveils AI Solutions at GITEX Global 2024

Zebra Technologies Corporation will showcase its latest AI-powered solutions at GITEX Global Dubai from October 14 to 18, 2024, at Stand H5-B20. Alongside regional partners and independent software vendors, Zebra aims to demonstrate how its innovations empower workers across various industries.

The company’s AI solutions enhance decision-making, streamline processes, and improve customer interactions. Last month, Zebra ranked #51 on Fast Company’s 2023 list of the 100 Best Workplaces for Innovators, reflecting its commitment to fostering innovation.

Key highlights will include RFID and warehouse optimization solutions, interactive experiences with the ET65W rugged tablet, and the AI-driven Workcloud suite. Zebra’s PartnerConnect program features over 10,000 partners globally, with about 250 in the Middle East serving industries like retail and healthcare.

Saudi Ministry Introduces Tech Talent Hub Initiative to Enhance Digital Economy

The Saudi Ministry of Communications and Information Technology has launched the Tech Talent Hub initiative in collaboration with recruitment and human resources (HR) companies. This initiative is designed to support technology startups and enhance the skills of national digital talent, contributing to the growth of the tech sector and the digital economy.

The Tech Talent Hub aims to accelerate the development of tech startups by offering comprehensive HR services, enabling these companies to reach their full potential. This aligns with the aspirations of Saudi Vision 2030, which seeks a sustainable and prosperous future for the Kingdom.

Services provided under the initiative will include recruitment, hiring, outsourcing, HR systems, consulting, and skills assessments. Partnering HR firms will empower tech sector beneficiaries, including startups and skilled professionals, to effectively leverage available resources for growth and innovation.

Saudi Arabia Enhances Collaboration with NASA for Space Technology

Saudi Arabia is set to strengthen its partnership with NASA following a meeting between Abdullah Al-Swaha, the Minister of Communications and Information Technology, and NASA Administrator Bill Nelson. They discussed strategic collaborations in advanced technologies and space innovation.

Al-Swaha also explored investment opportunities with the Saudi ambassador to the U.S. and business leaders in the digital economy and AI. He praised Saudi students’ contributions to science and highlighted initiatives like the Misk Foundation’s “Saudi Codes,” which has trained one million women and youth in programming.

At the UN General Assembly, Al-Swaha presented seven recommendations for AI governance and reaffirmed Saudi Arabia’s commitment to advancing its digital economy through the proposed Digital Cooperation Organization.

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