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AI + Innovation (MENA) 
Infrastructure 
New stablecoin-powered fintech Sovra raises USD 2 mn in pre-seed funding
The platform will be rolled out in 180 countries, with a focus on MENA
CNTXT AI raises USD 60 mn from BlueFive Capital, Abu Dhabi’s AI71
The round is one of the larger investment rounds for an AI startup in the region this year
RemotePass raises USD 17.4 mn to take its MENA payroll playbook global
UAE-founded RemotePass has secured fresh funding in a round led by EBRD Venture Capital
Mubadala backs eVoost AI’s USD 2.2 mn capital raise
The round was led by First Drop VC
Embedded finance platform Comfi plans Saudi expansion after raising USD 65 mn in debt and equity
The company provides 90-day installment plans for SMEs
Mapping the ripple effects of the war on MENA venture capital -Magnitt
The region’s venture pipeline is vulnerable to retreating, shock-sensitive international capital
Credit scoring platform zypl.ai secures USD 5.5 mn in new funding round
The startup plans to use the funds to expand into new markets
Blockchain startup Utexo raises USD 7.5 mn in seed round led by Tether
The funding will support the firm’s regional expansion and systems development
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