Dubai-based Global Ventures participated in a USD 30 mn series A funding round for tech subscription e-commerce startup Zension Technologies led by Saudi Aramco’s venture arm Wa’ed Ventures, along with Japan’s Sumitomo Corporation, the company said on LinkedIn.

Where will the funds go? Zension said the funding round would go towards their new business vertical Zaam, set to launch this month, which allows customers to use tech devices for a monthly subscription fee through third party distributors, rather than outright own it through a linear ownership model. The plan will include repairs and replacements, as well as buy-back services and upgrades after 12 months.

About Zension: Founded in 2016 by CEO Khalid Saiduddin (LinkedIn) and CCO Nikos Anastasiadis (LinkedIn), the startup now has offices in the UAE and Saudi Arabia and operates in 25 cities across the GCC. It currently manages 1.5 mn device subscriptions, according to its website.

ALSO FROM PLANET STARTUP-

AI startup MilkStraw AI raised USD 600k in pre-seed funding led by Flat6Labs with participation from Angel Spark, Beyond Capital, and other angel investors, according to a statement. The startup will use the funds to expand its market presence in the MENA region, build up its engineering and development teams, accelerate product development and enhance customer support capabilities, according to a separate press release.

MilkStraw AI? Headquartered in the UAE and San Francisco, and founded in 2024 by CEO Jawad Shreim (LinkedIn), MilkStraw AI is a software cost optimization service that uses AI to reduce cloud and AWS (Amazon Web Service) bills for companies. It previously graduated from the Flat6Labs Ignite Program and counts Dubai-based venture data firm Magnitt amongst its clients.

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