What led to Ninja's Ebrahim Al-Jassim’s exit from HungerStation, Dubai lures SpaceX challenger, Iraq’s next-gen digital bank emerges from stealth, plus this week’s MENA startup, VC, and tech news round-up.
A detailed look at HungerStation’s 2019 leadership transition, the legal dispute between Delivery Hero and Ebrahim Al-Jassim, and the rise of Ninja as one of Saudi Arabia’s first q-commerce unicorns.
The Luxembourg-based company will relocate to Dubai and partner with LEAP 71 to develop a large, reusable launch vehicle and orbital spacecraft, with hot-fire testing set to begin in 2026.
Launched in 2025 by Iraqi-American banker Hussain Qaragholi, InstaBank aims to deliver scalable, AI-powered financial services to Iraq’s underserved population.
Founded by HungerStation’s Ebrahim Al-Jassim, the quick commerce startup is now valued at $1.5B after a round led by Riyad Capital, joining Foodics, Tamara, and Tabby among the Kingdom’s top valued tech companies.
The $50M round, including $45M from Jadwa Investment and participation from Bunat Ventures, will support PetroApp’s expansion into retail services, growth across regional markets, and path to an IPO by 2028.
This week on VC React, we unpack Valu’s market debut in Cairo, dig into why Careem is pulling the plug on its ride-hailing business in Pakistan, break down AppliedAI’s $55M Series A, and debate whether OpenAI’s new productivity push spells the beginning of the end for SaaS as we know it.
Founded by Dr. Diaa Youssef and Dr. Mostafa El-Sahli, the startup offers interest-free BNPL financing, crop insurance, and AI-powered tools to over 1,500 farmers.
Valu surges 852% on EGX debut as Amazon joins the cap table, AppliedAI closes oversubscribed $55M Series A, Impact46 backs Spekter Games from $40M gaming fund, plus this week’s MENA startup, VC, and tech news round-up.
The investment into Taehoon Kim’s web3-hybrid gaming startup follows Impact46’s launch of a $40M gaming fund earlier this year.
The France-based startup, founded by David Gurlé, will use the funding to expand its decentralised cloud platform, reduce reliance on US hyperscalers, and meet rising AI-driven compute demand.
Inside Valu’s EGX debut: With Amazon now on the cap table, we unpack the model behind Egypt’s most disciplined fintech, covering product strategy, underwriting logic, unit economics, investor dynamics, and the operators running the machine.
The Abu Dhabi-based automation startup, founded in the UK in 2021, will use the funding to expand internationally and scale AI tools for regulated sectors across MENA.
The UAE-based company has acquired B2C player Uplines and will launch new AI and blockchain-powered products as part of its regional expansion strategy.
The deal was led through STV’s newly launched $100M NICE fund, a non-dilutive capital vehicle backed by SAB Invest and NTDP to support high-growth Saudi tech startups.
The Cairo-based logistics startup will use the additional capital to accelerate AI adoption and scale its smart shipping assistant across Egypt and Saudi Arabia.
The Baghdad-based firm will support up to 40 startups annually through a hands-on model combining mentorship, product development, and investment.
The platform matches tenants with compatible flatmates and removes common pain points like large upfront costs, rigid leases, and unreliable listings, positioning itself as a tech-enabled alternative to traditional urban rentals.
Stryde71 will combine Qora71’s syndicate-led investment model with Stryde’s end-to-end infrastructure for global deal access, including co-investment opportunities for both qualified and retail investors.
This week on VC React, we unpack Valu’s unconventional path to the EGX, decode what OCTA’s $20M credit line says about the future of startup finance, explore why “boring” startups might be the smartest bets, and break down Amjad Masad’s Replit teaming up with Saudi’s new AI powerhouse, HUMAIN.
