Revora raises for Saudi expansion, Varenne opens up in DIFC, another addition comes to Abu Dhabi’s culture scene, and India’s Rites to form UAE JV

USD 2 mn for Saudi expansion

Revora raises USD 2 mn to expand in Saudi Arabia: UAE-based AI commerce startup Revora raised a USD 2 mn seed round co-led by i2i Ventures and Oraseya Capital, with proceeds earmarked mainly for Saudi expansion, according to a press release. It also saw participation from Anchorless Bangladesh, Conjunction Capital, F6 Ventures, Hi2 Global, Orbit Startups, and strategic angels including Salla co-founder Salman Butt and operators from Bolt, Mubadala, and EY.

The company — FKA MyAlice — develops AI tools that help e-commerce merchants automate sales and customer interactions. It operates in more than 21 countries and says revenue grew 10x after it pivoted to Saudi Arabia and the GCC in 2024. Revora was founded in 2021 by Shuvo Rahman and Daniyal Baig.

Varenne Capital Partners opens DIFC office

French asset manager Varenne Capital Partners opened an office in the DIFC, marking its expansion into the UAE and adding to a growing number of European asset managers increasing their presence in Dubai’s financial hub despite regional tensions, according to a press release. The office will be led by Giacomo de Nardis (LinkedIn) as senior executive officer.

New performing arts venue coming to Saadiyat Island

Abu Dhabi is expanding the Saadiyat Cultural District with a new performing arts venue. Dar Al Funoon Abu Dhabi is set to open on Saadiyat Island in 2030 with a total capacity of more than 6k seats, according to Abu Dhabi Media Office. The emirate has continued to invest in cultural attractions on Saadiyat, recently adding the Zayed National Museum to its cultural offerings, which also includes the Louvre Abu Dhabi and the upcoming Guggenheim.

India’s Rites forms UAE JV

India’s Rites is deepening its UAE push: Indian state-owned transport and infrastructure company Rites secured board approval to set up a joint venture with UAE-based NICC Infrastructure Construction, according to a regulatory filing (pdf). The company has yet to disclose details on ownership structure, capital backing, or the specific activities the venture will undertake.

Remember: Rites has been eyeing cooperation with UAE entities for a while now, having signed an MoU with Etihad Rail back in 2024 to explore cooperation on rail infrastructure project development. Earlier the same year, the company signed an agreement with AD Ports on possible collaborations across ports, logistics parks, economic and freezones, rail infrastructure, and projects linked to the planned India-Middle East-Europe Economic Corridor. It also inked a similar agreement with DP World in 2025.