A Sustainability-centric Future ??

?? Talking about our region’s role in this space, the Middle Eastern geographies and the governments have been active drivers of initiatives aimed at tackling the issue of climate change from the National Climate Change Plan of the UAE 2017–2050 to the Masdar Initiative.

?? So, it is no surprise that VCs and investors see value in this market and as a result, we’ve had the likes of?Pure Harvest, an agritech start-up focused on sustainable cultivation, and?Yellow Door Energy, a sustainable energy startup, raise sizable rounds with the former?closing a $100M+ round this year. Among the most active backers of MEAPT’s sustainability landscape are?Flat6Labs,?Energy Access Ventures, and?KAUST Innovation Fund, a firm that actively makes investments in solar and alternative energy, water, biological, and life sciences sectors, and more.

?? A number of MEAPT-based startups have also been selected for the Clima Tech Run 2022 which is providing global startups with the opportunity to pitch during COP27. The list includes MENA’s?Mozare3, Lebanon’s waste management startup?Nadeera, and Nigeria’s bike-sharing platform ThinkBikes among others.?

?? Funding & Acquisition Announcements:

• Yassir raises $150M Series B: Algeria-based?Yassir, raises $150M in Series B funding to power its expansion into North Africa and throughout the world.
• Egypt’s Blnk secures $32M in funding: Blnk, an Egypt-based FinTech that provides instant consumer credit has raised $32M in a mix of debt and equity to accelerate financial inclusion within underserved communities across the country.
• UAE’s Tarjama acquires Lebanon’s Screens: Tarjama, a language technology and services provider, has announced the acquisition of?Screens, a subtitling, dubbing, and localization company in the Middle East region.?

?? MAGNiTT Research &Data:

?? Come along with us as we take a look at the state of MEAPT's sustainability-driven investments → Explore Climate Change and the Tech Ecosystem ←

?? We wish you a great start to the week! (And if you have anything you'd like to share, share with us your stories on our social media:?Twitter???Instagram???Facebook)

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