⏱️ Around MENA in 30 seconds

1. Flow48 (🇦🇪 UAE), a fintech startup that specialises in upfront financing for SMEs, has secured $25M in pre-Series A funding.

2. Yabi By Souqalmal (🇦🇪 UAE), a fintech startup that enhances financial literacy by partnering with corporate clients for their employee well-being programs has raised $8M to fuel product development and regional growth.

3. KitchenomiKs (🇴🇲 Oman), an Oman-based foodtech startup that operates the country’s largest cloud kitchen facility has raised $1.8M in pre-Series A funding from Omani and regional investors.

4. Tmyyoz (🇸🇦 Saudi Arabia), an edtech startup that offers an e-learning platform for student academic support and test prep has received investment from Flat6Labs.

📦 Introducing Retailo, the Saudi-based next-gen digital distribution platform, offering next-day delivery for retailers and restaurants, and a plug-and-play solution for suppliers.

And, they just secured $15 million in their latest funding round!

• Co-founded by Muhammad Talha Ansari, Wahaj Ahmed, and Muhammad Nowkhaiz in 2020, the network comprises thousands of retail partners and restaurants in KSA and has 200+ leading brand partners on its platform.

‍💰 Investor lowdown: This round saw the entry of new investors such as Yusuf Bin Kanoo Group, Technology Group, and Majd Digital, alongside continued support from existing investors like Aujan Group Holdings, Shorooq Partners, Abercross Holdings, and Graphene Ventures. 

• This financial backing follows a previous $36 million Series A funding round. 

‍🛠️ The challenge

The retail market in Saudi Arabia is worth $100 billion and includes over 100,000 businesses. Collectively, these businesses serve a consumer base of more than 35 million people.

Retailo is tackling a crucial challenge in the Saudi Arabian market: transforming the traditional retail supply chain into a digitised, efficient, and scalable model. 

They're not just thinking outside the box; they're redesigning the box for the digital age.

‍🐦 Two birds, one stone

‍For retailers? The Retailo App is their new best friend. It offers access to a range of over 5000 SKUs for retailers with next-day delivery, streamlining the restocking process.

For suppliers? A plug-and-play solution that allows them to distribute their products by utilising Retailo’s extensive network of retailers and restaurants, as well as its distribution infrastructure across Saudi Arabia.

But wait, there's more!

• 🤝Their partnership with Dtonic, the South Korean data solution company, will enhance Retailo's capabilities through efficient and scalable AI-driven solutions. 

🔮 Flashforward

With its recent funding, Retailo plans to expand by increasing its network of customers and suppliers, with the goal of supporting 10 million SMEs across the MENAP region.

Here’s Immensa, a UAE-based 3D printing startup providing large companies in the energy sector with access to spare parts on demand without mass manufacturing hubs across Southeast Asia, China, or Latin America.

And did we mention they’ve just raised $20 million in a Series B funding round?

• Founded in 2016 by Fahmi AlShawwa, this round of funding follows a $7 million Series A round in 2021. 

💰 Investor lowdown: The round was led by Global Ventures, joined by new investors like Endeavor Catalyst Fund and EDGO, and existing backers such as Energy Capital Group (ECG), Shorooq Partners, and Green Coast Investments.

🎳 A spare

Immensa addresses inefficiencies in the $91 billion energy spare parts market, of which the Middle East comprises 35%.

Think of it as the Wild West of supply chains - traditionally chaotic, costly, and carbon-heavy.

‍🔩 An immensa solution

Immensa’s digital supply chain offers energy companies financial gains, operational improvements like local production and quick procurement, and environmental advantages such as less waste and a smaller carbon footprint.

There’s the potential to address annual energy industry losses of about $30 billion!

🔄 Different take

🗃️ Why store parts physically when you can go digital? Immensa's digital warehouse library of 8000+ digital files is ready to print on demand, cutting warehousing costs by up to 50%.

🔍 Need a spare part? Just 3D scan and print! This reduces lead times in half and ensures each part is spot-on.

🌱 This waste not, want not eco-smart manufacturing approach also cuts CO2 emissions, making spare part production more sustainable. 

The result? A faster, cheaper, and more earth-friendly supply-chain.

‍🔮 Flashforward

Immensa's expansion plans include strengthening its presence in KSA and the UAE, with market entries into Oman and North America. 

They’re aiming to digitise one million energy spare parts by 2027, and will use the fresh funding to advance its proprietary software, DIS RT, and improve its AI capabilities.

Abedalrhman Habashneh is the founder and CEO of Decapolis, a Jordanian-based start-up that provides blockchain-driven traceability technology for the food industry.

🚀 What gets you up in the morning?

I rise each morning driven by a profound commitment to pursue my life goals, overcome challenges, and relish the journey towards success. My motivation extends beyond personal achievement to make a positive impact on the lives of others and contribute to the betterment of the environment.

💼 Leadership advice you wish you had known sooner? 

The importance of prioritising the right decision over the safe one. Often, the optimal choice may not align with the popular or comfortable route, and it requires the courage to diverge from the expected path.

🌟 What's been your most rewarding career moment to date?

The collective achievement of our team, where we successfully impacted small-hold farms, contributing to the World Food Program's mission of achieving zero hunger. 

Through our last pilot project, we were able to significantly enhance their ability to produce safe food, resulting in a 99.9% success rate. Witnessing the positive transformation in the lives of these farmers, as their income increased and overall well-being improved, has been incredibly fulfilling.

🏔️ And the most challenging?

A significant hurdle we're currently navigating is a partnership with a publicly traded company. While working towards shared goals, we encountered difficulties stemming from a lack of transparency and a values misalignment.

It's a situation we're actively addressing to ensure the continued positive trajectory of our initiatives.

🔍 What's a startup trend you're keeping an eye on?

Agritech, Foodtech, and environmental technologies.

It's not just about the latest gadgets or conveniences; it's about addressing fundamental needs.

👶 As a child, what did you want to be when you grew up?

As a child, I had grand visions of becoming a doctor, engineer, or pilot – the typical paths that seemed to promise a secure job and a good income. However, as I ventured into my teenage years, I discovered a profound passion for voluntary work and helping others.

Over the years, I immersed myself in diverse volunteering activities, ranging from painting streets to teaching and even crafting initiatives for growth strategies and mentoring startups etc.

😅 Go-to activity to decompress?

Meditation, prayer (reading the Quran), and engaging in voluntary work.

📚 A book that stopped you in your tracks?

The Secret Book

🎧 Favourite podcast?

Finjan podcast also I like to listen to short videos and advice from GRIM HUSTLE

FYI, we’ve edited this interview for length and clarity.

👋 Message from the team

Thanks for reading! Have a terrific weekend and we’ll see you all again on Tuesday.

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