MEA Tech & Startup Digest: Issue #93
Mehmet Gonullu
Igniting Tech & Venture Ecosystems | Startup Advisor | GTM Partner | Investor | Podcast Host | Keynote Speaker
Welcome to the 93rd edition of “The CTO Show’s MEA Tech & Startup Digest”! ??
In this edition, we examine the latest funding landscape in MENA, featuring major Series B rounds, emerging players in fintech, and the evolving venture capital scene. From financial infrastructure innovations to AI-powered enterprise solutions, we're covering the most impactful developments shaping our region's tech ecosystem.
Whether you’re one of our 2,183 subscribers or new to our community, we’re thrilled to have you join us on this journey of discovery and growth in tech, startups, and entrepreneurship.
Let’s dive into this week’s rich insights!
?
?
?? Feature Story: MENA's October Funding Landscape
MENA Startups Raised $134M in October 2024
The MENA startup ecosystem saw $134 million in funding across 56 deals during October 2024. While this represents a 52% month-over-month decline, key sectors continue to attract significant investment. The UAE led with $61.8 million in funding, followed by Saudi Arabia with $50 million, with proptech emerging as the top-funded sector at $38 million.
?? Read More
?? Major Funding Rounds
? Lean Technologies Secures $67.5M Series B
Saudi-based fintech infrastructure provider Lean Technologies has raised $67.5 million in a Series B round led by General Catalyst, marking their first Saudi investment. The company has processed over $2 billion in payment volumes and verified nearly 1 million bank accounts in Saudi Arabia.
?? Read More
? UnifyApps Raises $20M Series A
UAE-based SaaS provider UnifyApps has secured $20 million in Series A funding led by ICONIQ Growth, bringing total funding to $31 million. The company's Unified Enterprise GenAI platform will expand across the Middle East from its Dubai hub.
?? Read More
? Pemo Raises $7M Pre-Series A
Dubai-based spend management platform Pemo has raised $7 million in a pre-Series A round co-led by Shorooq Partners and Augmentum Fintech. The platform processes AED 1.4 billion in annualized transactions across 4,000+ companies.
?? Read More
?? Industry Deep Dive: Biopharmaceutical VC Trends
Global Biopharmaceutical VC Landscape Shows Recovery
The sector has shown remarkable resilience, with VC deals reaching $41 billion in 2024, recovering from previous fluctuations. Key focus areas include oncology, immunology, and neuroscience, demonstrating the sector's continued innovation potential.
?? Read More
?? Emerging Startups
? Efreshli Secures Seed Funding
Egyptian interior design startup Efreshli has raised an undisclosed seed round led by Algebra Ventures. The platform's virtual décor tool partners with 150+ top Egyptian brands and has appointed former Google executive Dina Elhaddad as CPO.
?? Read More
?
?
???Episodes Recap:
?
?
In this episode of?The CTO Show with Mehmet, we’re joined by Andrew Duncan , CEO of Vertice Labs, a boutique software engineering company that helps startups and SMBs turn innovative ideas into functional products. Andrew kicks off by sharing his journey in the tech world, which spans nearly two decades, and explaining the unique approach that Vertice Labs brings to software development. Their work goes beyond simple execution, focusing on strategic alignment between management and engineering teams to deliver projects efficiently and without unnecessary complexity.
?
?
In this episode of?The CTO Show with Mehmet, Mehmet sits down with Ahraz Husain , VP of Product Engineering and Data at Growers Edge, to explore the powerful intersection of AgriTech and FinTech. Ahraz shares his journey from technology to agriculture and the incredible impact Growers Edge is making in supporting farmers through advanced financial products and innovative technology.
?
?
?? 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.
-????? Wows Global: This investment portal offers you the tools and support to connect with investors, manage your stakeholder relations, and navigate your financing requirements effectively. Start by listing your company and get guided? towards your financing goals. Join and gain the attention of the biggest investors in the ASEAN & MENA regions.
?
?
Connect & Grow with Us
?
Thank You ??: Your engagement drives our shared journey forward. Here's to another week of innovation and growth!
?
Best, Mehmet
?
Public Speaker, Women Empowerment in STEM, Startup Ecosystem | VC lab Cohort 15 | IVLP
1 周Very impressive and inspiring ????
Information Technology Manager | I help Client's Solve Their Problems & Save $$$$ by Providing Solutions Through Technology & Automation.
1 周Mehmet Gonullu, solid updates. Love the funding buzz in MENA. Those numbers show we're making waves in the startup scene. ??
Director of Finance | Driving Financial Growth with Expert Analysis | White label Payment Systems | Tech Builder | Cross Border Payments | Prepaid Cards |
1 周?? Key milestones celebrated. Fresh perspectives offered. Engagement fostered.
Business Development Associate
1 周Exciting insights into the MENA tech landscape, can't wait to dive deeper into those stories. ??
Strategy & Corp. Finance Executive | Helping impact-driven businesses scale up | Fractional CFO to startups and SMBs. Certified Scaling Up Coach.
1 周Impressive milestones for regional tech. Insightful content, great engagement