1. Gamecentric (🇦🇪 UAE), a gaming startup connecting brands with gamers, has raised $1.5 million in funding from angel investor, Bilal Merchant.

2. Thiqa Tutoring (🇦🇪 UAE), an edtech startup that provides tutoring services across the UAE has raised $300k from Hope Ventures alongside private sector investors Mashael Fairooz (JEO Capital) and angel investor Dr. Lamya Mahmood, during the Beban TV show.

3. PIESHIP (🇸🇦 KSA), a logistics startup specialising in warehouse management, shipment delivery applications, and technical logistics solutions, has closed an undisclosed pre-seed investment round by SEEDRA Ventures, Nama Ventures, and angel investors.

🇪🇬 Say hello to Sawari Ventures! They’re a a leading Egyptian VC firm that intends to launch a new $150 million fund to back Egyptian startups.

• Founded in 2010 by Ahmed Alfi, Hany Al Sonbaty, and Wael Amin, Sawari Ventures currently manages a $69 million Egypt-focused fund it closed in 2021, and another $71 million fund that is focused on North Africa.

📖 Background

The firm has directly backed over 30 companies, including Swvl, MoneyFellows, Instabug, Si-Ware, and Elves.

• Roughly 35% of its portfolio is dedicated to fintech, with a focus on digitising Egypt's economy and enhancing financial inclusivity.

Flat6Labs, a leading accelerator in the Middle East & North Africa, was also founded by Sawari Ventures in 2011.

• It has supported over 500 startups across the region through various Flat6Labs accelerators.

⚙️ Break it down 

The new fund will focus on sustainable growth in Egypt in sectors like fintech, edtech, healthtech, cleantech, and deeptech.

Managing partner, Hany Al Sanbati, affirmed that despite Egypt's economic challenges, the present period is still an opportune time for investing in Egyptian startups, emphasising that investors are committed to supporting local startups and that present challenges won’t impede their long-term growth.

• Sawari Ventures' strategy includes an operational framework designed to boost investments and prepare startups for future funding, with exits being a crucial strategy to finance additional tech ventures.

🔥 Egyptian startups

A number of tech startups in Egypt have announced funding so far in 2024, including; Zeal, Bosta, DXwand, Yodawy, and Roboost.

🔮 Flashforward: 

Sawari Ventures forecasts that Egyptian startups it backs could attract investments between $350 million and $500 million over the next five years.

☁️ Meet The Cloud! A UAE-based cloud kitchen specialising in boosting kitchen utilisation for restaurant owners through partnerships with external food delivery companies. 

They've just secured $12 million as part of their latest Series B funding round. 

• Founded in 2019 by Kamil Rogalinski and George Karam, The Cloud currently boasts a global portfolio of 200 locations spanning over 7 countries and 91 cities. 

💰 Investor lowdown: This funding round was led by MENA Moonshots, alongside debt financing from Aluna Partners. The Cloud have also acquired the UK-based food tech startup KBOX highlighting their quest to expand into the UK, Europe and beyond. 

• They're aiming to raise $30 million in this round. Ambitious right? So far, their total funding stands at $22 million.

🧩 Food delivery puzzle

The global food delivery market is growing - big time, with expectations it will exceed $200 billion by 2025. 

So what issues are restaurants facing? 

Underused kitchen spaces, the complexity of handling multiple delivery platforms, and the challenge of expanding food brands without incurring huge startup costs.

📝 A recipe for efficiency

This is where The Cloud steps in with their Smart Delivery Operating System (SDOS) which centralises delivery program management, enabling restaurants to maximise kitchen space and reduce operational costs. 

• The platform allows restaurants to connect with over 28 food delivery services, effectively eliminating the hassle of dealing with various orders and platforms. 

🍳 Why choose a cloud kitchen? 

A cloud kitchen is a delivery-only cooking space which means much lower startup costs when compared to traditional restaurants​​. There’s no need to splash out on front-of-house operations, extensive floor space and high rents. 

With 1000+ kitchens and 30 + brands already on board, The Cloud offers a streamlined, budget-friendly way into the restaurant business.

• They claim to have virtual food brands up and running in as short as a month with their cloud kitchen model!

🔮 Flashforward

With this funding, The Cloud is going to expand its cloud kitchen model into Lithuania, Belgium, the Netherlands, and the UK.

🇦🇪 Dubai Future District Fund (DFDF) has participated in the second close of pan-African fund Partech Africa II at $300 million, managed by global investment firm Partech, along with other investors including Africa Re, Orange, AXIAN Investment, and the African Development Bank Group (AFDB).

• Partech Africa II intends to intensify its investment strategy throughout Africa, offering seed to series C rounds with initial tickets ranging from $1 million to $15 million.

🇸🇦 Alat, a Saudi Arabian tech company backed by the Public Investment Fund (PIF), is set to invest $100 billion by 2030 to advance the country's tech sector.

• It aims to collaborate with global tech leaders like Softbank Group, Carrier Corporation, Dahua Technology, and Tahakom to spur sustainable manufacturing and innovation.

• Key initiatives include launching a $150 million industrial robot plant, developing R&D facilities for decarbonising emissions, and enhancing smart mobility and intelligent city solutions.

🇦🇪 Plus VC (+VC), a VC firm focused on Seed to Series A stage investments in the MENA region and diaspora, has signed an MoU with Tawaref, a tech investment community, to fast-track the incorporation of its portfolio companies in Saudi Arabia through the Saudi Landing program.

• Saudi Landing by Tawaref is a One-Stop Shop solution that coordinates with more than 10 entities in the Kingdom and offers guidance on market entry strategies, regulatory requirements, and local business practices.

🇸🇦 Saudi data automation company Basserah and UAE-based AI firm nybl have merged to strengthen their regional presence.

• Nybl, founded in 2018, specializes in AI for real-time industry analytics, while Basserah focuses on data automation for various sectors.

• Following the merger, nybl will maintain its name and team, with Basserah fully merging into the new entity.

• Geospatial supremacy. Saudi Arabia set up its first AI-powered satellite imagery analysis firm

• Future… proof? Neuralink’s first brain implant is working. Elon Musk’s transparency isn’t

• Not so unbiased. AI hiring tools may be filtering out the best job applicants

• Only big bets. Masayoshi Son Seeks to Build a $100 Billion AI Chip Venture

👋 Message from the team

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