MEA Tech & Startup Digest: Issue #80
Mehmet Gonullu
Passionate About Connecting Visionaries and Driving Impact | Empowering Startups to Solve Real-World Problems | GTM Expert, Entrepreneur, Podcast Host , Keynote Speaker | Committed to Innovation and Meaningful Change
Welcome to the 80th edition of " The CTO Show's MEA Tech & Startup Digest" Weekly Newsletter! If you're new here, I extend a warm welcome to you, joining our dynamic community of 2030 subscribers across LinkedIn and Beehiiv. Your presence, whether as a first-timer or a loyal follower, is the heartbeat of this platform dedicated to unfolding narratives in tech, startups, and entrepreneurship.
?What is inside?
-????? Weekly Startup Insights From Middle East, Türkiye & Africa
-????? Episodes Recap
-????? Useful Resources
?Let's not wait any longer and dive into this week's rich insights!
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??? Regional Investment Highlights & Startup Insights:
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MENA Startups Funding Surge
MENA startups raised $355 million in July 2024, marking a 206% increase month-on-month and a 260% year-on-year growth. The majority of this investment was in Egypt, with fintech continuing to dominate the sector, attracting $181 million. The report highlights a notable shift towards early-stage investments, with seed-stage startups receiving significant attention from investors. Read More
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HealthTech Investment in Saudi Arabia
Saudi-based healthtech startup Athir has successfully closed its first investment round, with backing from Wa’ed Ventures, SHARE Investment Co., and RZM Investment. Founded in 2017, Athir offers a comprehensive healthcare management system that integrates with various platforms to improve patient experience, automate medical insurance procedures, and drive digital transformation in the Saudi healthcare sector. This round marks a significant milestone in Athir’s mission to enhance healthcare services in the region. Read More
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KPMG Turkey Tech Innovator Finals
The KPMG Private Enterprise Global Tech Innovator competition’s Turkey finals have revealed the top 10 startups, including Cropto, Fingate.io, and Livemedy. These startups span sectors such as fintech, healthtech, and deep tech. The winner will represent Turkey at the global finals in Lisbon in November 2024, gaining opportunities for mentorship, networking, and recognition as a “Global Innovation Leader.” Read More
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Turkish Startups Secure $586.8 Million
In the first half of 2024, Turkish startups secured $586.8 million across 254 investment rounds, surpassing the total investments of 2023. Notably, AI and gaming sectors continued to attract significant funding, with Istanbul remaining the primary hub for startups. There was a noticeable increase in the participation of domestic investors and female-founded startups, partly driven by TüB?TAK B?GG program’s impact. Read More
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US VC Interest in Turkish Fintech
US VC QED’s recent visit to Istanbul highlights growing interest in Turkish fintech, with firms like Colendi and Midas gaining attention. Turkish fintechs, traditionally underfunded, are now attracting more investment by demonstrating profitability and expanding globally. However, experts advise caution in expanding too quickly. Read More
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MealPlanet Raises $6 Million Seed Round
UAE-based MealPlanet raised $6 million in a Seed round led by MEVP, AlTouq Group, and others, including entrepreneurs Marc Lore and Samih Toukan. Founded in 2024 by Khalid Baareh, MealPlanet is a meal plan delivery app connecting consumers to various brands. The funds will support regional expansion, starting in Saudi Arabia in 2025, and further development of its technology platform to enhance customer experience. Read More
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Hloolo Platform Launch in South Africa
Hloolo, a platform launched by Fetola, Nedbank, J.P. Morgan Chase, and the Embassy of Finland, addresses the significant funding gap for green SMEs in South Africa. It connects these businesses with investors and markets while offering tools like the Fetola Investment Readiness Scorecard. Hloolo builds on the success of the Circular Economy Accelerator, aiming to empower South African SMEs to drive sustainable growth and innovation, with the potential to become a global model for green economic development. Read More
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Anzisha Prize Awards $40,000 to African Startups
The Anzisha Prize recently awarded $40,000 to four young African entrepreneurs—Mathias Yabe, Nzinga Antonio, Sharon Alyorneku, and Ivo Bonfirm—in recognition of their innovative business ventures. The winners were celebrated at a grand event in Johannesburg, South Africa, and received $10,000 each, along with personalized coaching, mentorship, and networking opportunities to support their business growth. The prize aims to empower these young leaders to drive economic development and job creation across Africa. Read More
领英推荐
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Kem Secures $3 Million Investment
Kuwait-based fintech Kem has secured a $3 million investment from Tether, bringing its total funding to $4.5 million. Kem, founded in 2021, is a P2P payment platform allowing instant money transfers using QR codes without the need for traditional accounts. The collaboration with Tether aims to enhance access to digital financial services in the region, promoting financial inclusion and stability. This partnership represents a strategic move for Tether to expand in the Middle Eastern market. Read More
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Sepio Extends Series B with UAE’s Tau Capital
Sepio, a Maryland-based cybersecurity startup, has secured an undisclosed investment from UAE’s Tau Capital, extending its Series B funding round. Sepio, which has raised $48 million so far, specializes in protecting physical IT assets with its HAC-1 risk management platform, which monitors all connected hardware devices without tapping into traffic or device activity. The new funding will help Sepio expand its global reach and enhance its product offerings. Read More
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Yuze Secures $30 Million Investment
UAE-based fintech Yuze has secured a $30 million investment led by Osten Investments to support its expansion into new markets. Founded in 2022 by Rabih Sfeir, Yuze offers business accounts and financial services tailored for SMEs, e-traders, and freelancers, aiming to reach one million customers within five years. The funding will help Yuze enhance financial inclusion in emerging markets and expand its service offerings across the region. Read More
???Episodes Recap:
?In this episode of?The CTO Show with Mehmet, we welcome Ricardo Jimenez , an entrepreneur, angel investor, and author of the book?Crash Course. Ricardo shares his journey from being an entrepreneur to writing a book that delves into the emotional challenges faced by founders. He discusses his motivation for becoming an entrepreneur, his experiences with failure, and the psychological aspects of managing the ups and downs of startup life. Ricardo emphasizes the importance of separating one’s identity from their venture, understanding that failure is often a part of the entrepreneurial journey, and the need to process and release the emotions tied to these experiences.
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?In this episode of “The CTO Show with Mehmet,” we dive deep into the world of AI and blockchain with our special guest, Jordan Miller . Jordan, the visionary behind the SatoriNet project, shares his ambitious journey to create a decentralized network of computers aimed at predicting the future. We explore how Jordan’s background in blockchain and his fascination with distributed consensus led him to develop a system that gathers and analyzes vast amounts of global data—from economic indicators to environmental metrics—to foresee future events.
In this episode of?The CTO Show with Mehmet, we are joined by Andre Laplume , a professor at the Toronto Metropolitan University, to discuss the fascinating world of spinout ventures. André shares his insights on why the narrative of startups beginning in garages is often misleading, and how many successful companies actually originate as spinouts from established organizations.
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?? Useful Resouces:?
-????? iAccel Gulf Accelerator: iAccel Gulf Business Incubator (“iAccel GBI”) is a Global Accelerator Network (GAN)?certified accelerator that aims to help early-stage tech startups turn their innovative ideas into successful businesses in MENA Region.
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?Connect & Grow with Us
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Thank You ??: Your engagement drives our shared journey forward. Here's to another week of innovation and growth!
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Best, Mehmet
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1 个月Digest loaded with insights. Appreciate the roundup effort.