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AI + Innovation (MENA) 
Infrastructure 
Maalexi secures USD 1 mn in venture debt
Indian-based Stride Ventures led the funding round
Volume of startup investments up 11% y-o-y in 1H 2024 -Magnitt
Six exits took place in the UAE in the first half of 2024
Dubai Future Foundation + Meta launch AI-powered business incubator
The project uses Meta's AI model LLAMA 3 aims and focuses on using Large Language Models
Qstay closes USD 4.6 mn pre-series A round
The funding was raised through a combination of conventional and convertible debt
Now Money raises USD 4 mn in equity round
The money will be used to to scale up its operations and enhance its technology product offerings
UAE-based contech Tenderd closes USD 30 mn series A funding round
The round was led by AP Moller Holding and saw the participation of old and new investors
Stake raises USD 14 mn to expand to KSA + Elevate raises USD 5 mn
Aramco’s Wa’ed Ventures and Mubadala are among those who participated in the funding round
AI startup qeen.ai secures USD 2.2 mn in pre-seed round
The company will use the funding make AI solutions more accessible and user-friendly
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