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Cipher secures SAR 50 mn pre-IPO funding from Impact46
PLUS: Flat6Labs enrolls 10 startups in round four of the Riyadh Seed Programme
Singapore-based Locad plans Saudi expansion after pre-series B round
The round gives the startup a valuation of USD 60 mn, Reuters says
International investors are increasingly interested in MENA startups
The MENA region sees record growth in international investor participation, with Egypt and the UAE driving the growth
Ayen acquires Egyptian startup Elmawkaa in SAR seven-figure transaction
The acquisition will allow Ayen to integrate Elmawkaa’s materials marketplace into its platform
Fintech startup Mala closes USD 7 mn pre-seed funding round
Homegrown fintech Hala is now part of the Saudi Unicorns Program
Jaras Hospitality closes SAR 2.5 mn pre-seed funding round
The capital is earmarked for improving the company’s product-market fit + expanding the customer base
KSA + Philippines ink energy MoU on energy
PLUS: Petro Rabigh and China’s Jiahua Chemicals mull new petrochem facility in Rabigh
Edtech Aila secures USD 1.2 mn pre-seed funding
Proceeds from the round will support regional expansion and boost tech
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