⏱️ Around the Middle-East in 60 seconds

1. 🇪🇬 Egypt: ICT Minister announces that the country is launching a platform allowing citizens to start a business remotely with just EGP1,000 ($32) and no fixed location. In the past year, Egyptian startups secured $737 million, ranking third in the MENA region. They have their sights set on moving up.

2. 🇸🇦 Saudi Arabia: Startups are joining a 14-day, 8,000-km train journey across India with G20 innovators for the Jagriti Startup20 G20 Yatra 2023. Organized under India's G20 presidency, the trip promotes international collaboration and insight into India's entrepreneurial ecosystem.

3. 🇦🇪 UAE: Mubadala Capital has raised over $710 million for its second investment fund in Brazil, targeting mature companies with compelling fundamentals. This move aligns with Mubadala's global expansion efforts and its strategy to diversify beyond natural resources.

4. 🇮🇶 Iraq: Orisdi, a leading e-commerce platform in Iraq, secured a six-figure investment in August 2023. With funds now exceeding a million USD, they're set to introduce "Orisdi Global," an app for international shopping.

Here’s Zest Equity! The start-up provides a digital solution that streamlines the once-tedious realm of private market investment processes.

With a fresh infusion of $3.8 million in seed funding, they have their sights set on revolutionising how founders and VCs in the MENA ecosystem transact, aiming for speed, transparency, and enhanced liquidity.

• Launched in 2021, the platform provides entrepreneurs with digital tools to manage their own transactions while also grouping their investors into a single legal framework.

Investor check: Middle East Venture Partners (MEVP) led the round, with participation from Dubai Future District Fund (DFDF) and DASH Ventures.

• Along with early supporters like 500 Sanabil, Nuwa Capital, and a strong contingent of regional angel investors and founding teams, they've brought Zest Equity's total funding to $5.7 million to date.

🔄 Out with the old, in with the new

Private market transactions are historically manual, slow, and cumbersome, especially for startups navigating investor relations, cap table management, and secondary trades.

Zest's tech-first approach promises to accelerate and streamline these dealings.

Rest easy. From facilitating founders to invite investors to rounds and share vital info, to enabling investors to express interest and view fellow VC participants, Zest is streamlining it all. Their legal infrastructure further allows for investor syndication, simplifying investment processes and cap table management.

⏭️ The future

They're eyeing secondary share trade capabilities and charting a course for expansion in North Africa, South Asia, and Turkey.

Meet Cycls, the startup from Saudi Arabia aiming to revolutionise digital interactions with AI-driven chat services that seamlessly connects users to a range of industries, from e-commerce and telecom to travel and personal finance.

• They just raised a $1M pre-seed!

Founded in 2021 by Mohammed Alrujayi and Khalid Alrasheed, Cycls have just launched “Sarya”, a superchat app that enables users to converse, shop, and transact within a single chat interface.

Investor check: The round was led by undisclosed angel investors

🦸 Not the Superchat we deserved, but the Superchat we needed

Digital interactions are the bread and butter of today's online world.

But… juggling multiple platforms, applications, and services can be tedious, confusing, and inefficient for users.

Enter Sarya, stage left. Sarya's Superchat tackles this problem by centralising how users interact with the digital world. Users can ask questions, make purchases, and even book flights through the power of instant messaging.

The platform allows businesses to present their products to a wider audience, manage and acknowledge orders, and access financial reports, all while providing users with a streamlined purchase process that enhances upselling opportunities and boosts conversions.

• The firm offers two integration pathways for businesses: End-to-End Integration for those equipped with APIs, and the Sarya Portal for those without.

📱What’s next?

The new funding for Cycls will support the launch of Sarya, and facilitate the company's expansion to the UAE.

• Currently operating exclusively on iOS and utilising Apple Pay for transactions, Cycls also has ambitions to expand Sarya's reach to other platforms.

👋 Message from the team

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