{"id":118111,"date":"2026-06-09T00:00:00","date_gmt":"2026-06-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?p=118111"},"modified":"2026-06-09T02:45:38","modified_gmt":"2026-06-09T02:45:38","slug":"julphar-wraps-up-uae-pharmacy-divestment-another-gifting-startup-raises-capital-vara-clears-another-crypto-player-european-tech-heavyweight-chooses-the-uae","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2026\/06\/09\/julphar-wraps-up-uae-pharmacy-divestment-another-gifting-startup-raises-capital-vara-clears-another-crypto-player-european-tech-heavyweight-chooses-the-uae\/","title":{"rendered":"Julphar wraps up UAE pharmacy divestment, another gifting startup raises capital, Vara clears another crypto player, European tech heavyweight chooses the UAE"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Julphar wraps up UAE pharmacy divestment<\/p>\n<p><a target=\"_blank\" id=\"id.hhylckjwkla9\"><\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Pharma manufacturer<\/strong> <strong>Julphar<\/strong><strong> completed the<\/strong><strong> sale of its Health First Pharmacy chain in the UAE to Al Batha Group<\/strong> \u2014 one of <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/09\/26\/dp-world-renews-operations-contract-for-brazils-santos-port\/\" style=\"\">two transactions<\/a> it had disclosed earlier last year, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/468.pdf\" style=\"\">press release (pdf)<\/a>. The second sale, involving Scientific Pharmacy\u2019s network and distribution business in Oman, also to the Emirati conglomerate, remains in progress pending regulatory and government approvals.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>Julphar disclosed in <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/09\/26\/dp-world-renews-operations-contract-for-brazils-santos-port\/\" style=\"\">September 2025<\/a> plans to divest the assets to Al Batha as part of a strategy to exit non-core assets and focus on specialty pharma operations across the MENA region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Gifting startups are having a moment <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investors <\/strong><strong>have been keen as of late on gifting platforms<\/strong>, with UAE-founded gifting startup Zuvees the latest to see fresh inflows, securing USD 1.6 mn from India-based IvyCap Ventures as part of its ongoing Series A round, <a target=\"_blank\" href=\"https:\/\/waya.media\/uae-based-zuvees-raises-usd-1-6m-to-scale-its-global-gifting-platform\/\" style=\"\">Waya<\/a> reports. The funding round brings its total funding to around USD 3.3 mn as the company targets a final close of between USD 6.6 mn and USD 8.8 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Zuvees? <\/strong>Founded in 2024, Zuvees operates a direct-to-consumer gifting platform that uses AI to match customers with curated gift options. The funding will be used to boost the e-commerce startup\u2019s AI capabilities, upgrade its logistics infrastructure, and expand its footprint across major international markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That adds to a growing list: <\/strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/05\/04\/rokos-comes-to-adgm-uae-gifting-platform-eyes-saudi-expansion\/\" style=\"\">Last month<\/a>, UAE-based gifting startup Udora secured USD 10 mn in private funding and said it would use the proceeds to enter Saudi Arabia. <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2025\/10\/cado-raises-45-million-pre-seed-drive-regional-global-expansion\" style=\"\">Back in October<\/a>, local premium gifting platform Cado also raised USD 4.5 mn in a pre-seed funding round. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Vara clears another crypto player<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another custody player is nearing a Dubai license. <\/strong>Chainberg, the institutional custody arm of digital asset infrastructure firm Liminal, has received in-principle approval from Dubai\u2019s Virtual Assets Regulatory Authority (Vara), putting it one step away from a full virtual asset service provider license, according to a <a target=\"_blank\" href=\"https:\/\/www.chainberg.com\/chainberg-secures-in-principle-vara-approval-steps-closer-towards-full-vasp-custody-licence\/\" style=\"\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters: <\/strong>Once licensed, Chainberg will be able to offer digital-asset custody services to institutional clients from Dubai, adding another regulated player to the emirate's growing crypto infrastructure stack. The move follows <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/04\/29\/vara-gives-the-greenlight-to-more-firms-uae-firm-makes-moves-in-egypt\/\" style=\"\">recent Vara approvals<\/a> for Daman Virtual Asset Brokerage and Bahrain\u2019s ARP Digital as Dubai continues to expand its regulated virtual-assets ecosystem.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SCC picks the UAE<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A European tech player is setting up shop in the UAE.<\/strong> UK-based SCC, Europe\u2019s largest privately owned technology services provider, is opening its regional headquarters in the UAE as it expands into the Middle East, according to a <a target=\"_blank\" href=\"https:\/\/www.scc.com\/scc-expands-into-middle-east-with-uae-headquarters\/\" style=\"\">statement<\/a>. The company provides technology infrastructure and integration services and plans to use the UAE as a base for serving clients across the region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What's next? <\/strong>SCC will focus on cloud infrastructure, AI, cybersecurity, and digital workplace services for government and enterprise clients. The regional business will be led by CEO Daniel Valle (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/danielfrvalle\/\" style=\"\">LinkedIn<\/a>), with headcount set to exceed 50 employees by the end of 2026 as the company builds out its Middle East presence.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The pharma manufacturer completed the sale to Al Batha Group<\/p>\n","protected":false},"author":1,"featured_media":118112,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1552],"tags":[47,107,1031,87,7,131,1235,1344,261,147,1341,1477,2573],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-118111","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-crypto","tag-digital-assets","tag-dubai","tag-enterpriseam-uae","tag-healthcare","tag-julphar","tag-ma","tag-pharma","tag-startups","tag-tech","tag-technology","tag-vara","wpautop","entry"],"acf":{"mongo_id":"cd952c07-73d7-4b6b-b22f-1890dd3f0a2a","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/6\/530.jpg","photo_position":"above","homepage_title":"","full_issue_title":"That\u2019s a wrap on Julphar\u2019s UAE pharmacy divestment","related_issue":[118098],"teaser":"The pharma manufacturer completed the sale to Al Batha Group"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Julphar wraps up UAE pharmacy divestment, another gifting startup raises capital, Vara clears another crypto player, European tech heavyweight chooses the UAE - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/06\/09\/julphar-wraps-up-uae-pharmacy-divestment-another-gifting-startup-raises-capital-vara-clears-another-crypto-player-european-tech-heavyweight-chooses-the-uae\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" 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