VC React Podcast (Episode #31)

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This week on VC React, we explore what it looks like when founders expand with intent — from cross-border B2B consolidation and fintech infrastructure built for Gulf markets, to Cairo-born chips powering AI data centres, and the next phase of online grocery competition in Saudi Arabia.

First up, Saudi’s Sary and Bangladesh’s ShopUp have merged to form Silq Group, creating a new B2B platform serving the Gulf and South Asia. Backed by $110 million in funding from Sanabil Investments, Valar Ventures, and others, Silq brings together two companies that have each raised over $100 million and onboarded more than 600,000 retailers, restaurants, and wholesalers. We discuss what this means for SME trade in emerging markets, how Silq Financial fits into the picture, and why embedded finance is becoming central to the future of regional commerce.

Next, we look at Egypt’s burgeoning semiconductor sector, in light of Cairo-based InfiniLink securing $10 million in seed funding led by MediaTek and Sukna Ventures to develop optical connectivity chips for AI data centres. The startup is tackling a key technical bottleneck: improving communication between AI processors using silicon photonics-based chiplets. We explore the relevance of this problem, the credibility of the founding team, and what this says about the potential for deep tech to take root in the region.

Then, we look at Egyptian q-commerce startup Rabbit which is now live in Riyadh, backed by a new (undisclosed) funding round from Lorax Capital Partners, Raed Ventures, Global Ventures, and others. We debate why they’ve chosen to enter now, what their Saudi strategy looks like, and how they plan to differentiate in a market that already includes players like Ninja, HungerStation, and Keeta. Rather than chasing market share through incentives, Rabbit is doubling down on experience, unit economics, and building for long-term local presence.

And last but not least, we look at a fintech expansion from Pakistan into the Gulf. Haball, a supply chain financing platform based in Karachi, has raised $52 million in pre-Series A — mostly debt from Meezan Bank. The company offers shariah-compliant financial products for SMEs and has processed more than $3 billion in payments to date. Now, it’s preparing for entry into Saudi Arabia, with plans for the UAE and Qatar to follow. We discuss how its product aligns with Gulf priorities, and what challenges it might face in navigating regulation, local competition, and cross-border product adaptation.

This week, Ahmad and I were joined by:

• Ambar Amleh, Founder & Managing Partner @ Ibtikar Fund

• Arnav Danthi, Principal @ Nuwa Capital

• Fahed Qteishat, Associate Director @ MEVP

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