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AI + Innovation (MENA) 
Infrastructure 
Supply chain tech startup Qara secures USD 2.6 mn in funding to drive expansion
The funds will help the startup further build its platform and expand into Saudi Arabia
Government lays out target to increase startup investments 10x to USD 5 bn
Madbouly met with ten local startups to discuss how the government can support the sector
Efreshli secures seed funding to fuel expansion + welcomes new co-founder
The funding round was led by Algebra Ventures
KSA’s Ayen fully acquires local startup Elmawkaa in SAR seven-figure transaction
The acquisition will allow Ayen to integrate Elmawkaa’s materials marketplace into its platform
KSA’s Edafa Venture Capital acquires strategic stake in Egypt’s Taskedin
The fresh funds will help the startup expand in the Gulf and beyond
Local investor snaps up minority stake in Simplex
Simplex will use the funds from the transaction to complete the construction of its EGP 100 mn factory in Tenth…
Sawari Ventures is launching its USD 200 mn Sawari Ventures Fund II
The fund will target local and African startups and fintech players
Rabbit Mobility closes USD 1.3 mn round
The company plans to expand into the Moroccan market next year
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