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AI + Innovation (MENA) 
Infrastructure 
Travel tech player Lokalee closes USD 5.6 mn round + Agri-trade fintech Maalexi raises USD 3 mn
MENA venture capital firm Global Ventures led the funding round
Crypto conglomerate Phoenix Group to acquire 25% stake in monetization platform Lyvely
Lyvely launched in August 2023, and raised an undisclosed amount in a seed round in September
Zeroe secures USD 2.2 mn in funding for decarbonization expansion
The round was led by Indonesian investor Owen Rahadiyan, who is offering access to significant Southeast Asian growth markets
Investor interest in UAE tech startups is waning
Late-stage financing saw the largest y-o-y drop in investments
Andalusia Labs racks up USD 48 in series A funding
The Abu Dhabi-based startup is now valued at USD 1 bn
UAE startups had a good fundraising run this year
Fintech startups continue to be an investor favorite
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