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Welcome to another edition of 🔍 Startup Researcher - Middle East, your essential digest delivering the latest news and premium insights on startups and venture capital across the region 🌍

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📰 Important News

• Pavel Durov returned to Dubai after being detained and placed under investigation in France over alleged criminal activities on Telegram.

• Abu Dhabi has partnered with Microsoft and Core42 to create an AI-powered sovereign cloud system aimed at enhancing government services.

• The National Cybersecurity Authority granted Tier-1 licenses to six Saudi companies for providing Managed Security Operations Center services.

• Checkout.com partnered with Tabby to integrate buy-now-pay-later solutions into its payment platform for merchants in the UAE and Saudi Arabia.

• MDAK APP, a real estate fractional ownership platform, successfully closed the Almalga Compound investment in Riyadh within days.

💸 Top Funding Rounds

• NymCard closed a $33 million Series B round to expand its API-first payment infrastructure in MENA and enhance financial services.

• ClearGrid raised $10 million to automate debt recovery in MENA, improve lender efficiency, enhance borrower engagement, and expand into KSA.

• PlaysOut secured $7 million to expand its blockchain-powered mini-game platform, scale operations, and launch an embedded SDK for game integration.

• ORO Labs, a Solana-based tokenised gold protocol, raised $1.5 million to enhance gold liquidity, enable yield generation, and expand within the UAE.

• Ibtikar Fund invested in MENA Analytics, a Palestine-based platform providing AI-driven market research tools for SMEs.

🏦 About Investors

• Yango Ventures launched a $20 million fund to support startups in emerging markets, including MENA, focusing on O2O, B2B SaaS, and fintech.

• Forbes Middle East published its Top 40 Asset Managers 2025 list highlighting leaders managing over $439 billion in assets.

• Qatar Investment Authority participated in a $150 million Series B round for Latigo Biotherapeutics to develop non-opioid pain relief treatments.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

NymCard

NymCard, a Dubai-based fintech company founded in 2018 by Omar Onsi and Ayman Chalhoub, secured $33 million in a Series B funding round led by QED Investors, with participation from Shorooq, Mashreq Bank, and others. Specializing in API-first embedded finance, NymCard provides payment infrastructure for banks, fintechs, enterprises, and telecom providers, aiming to bridge the fintech gap and drive digital finance innovation across MENA. The investment will support its expansion into 10+ markets, enhance its capabilities in card issuing, embedded lending, and money movement, and further its mission of enabling seamless financial transactions and promoting SME growth in the region.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Yango Ventures

Yango Ventures, a corporate venture fund launched in March 2025 by Dubai-based Yango Group, has established a $20 million fund to support early-stage startups across MENA, Pakistan, Sub-Saharan Africa, and Latin America. The fund focuses on seed to Series B investments in O2O, B2B SaaS, and fintech, aiming to drive digital transformation and entrepreneurial growth while leveraging Yango’s expertise in mobility, fintech, and AI. Beyond funding, Yango Ventures plans to provide strategic support, foster partnerships with other VCs, and potentially expand its fund size to enhance its impact on emerging market ecosystems.

 🤑 Opportunity Radar

Call for Applications: the Techstars Tokyo Accelerator

Apply to the Techstars Tokyo Accelerator by May 14th, 2025, and elevate your startup on the global stage. This sector-agnostic program supports entrepreneurs in Deeptech, Fintech, Cleantech, and Climatetech, providing access to a world-class ecosystem, mentorship, and investor connections. If you’re an international startup looking to target Japan or find local business partners and talent, this program is for you. Powered by Mitsui Fudosan and JETRO Startup, in collaboration with the Cabinet Office, METI, and the Tokyo Metropolitan Government, the accelerator kicks off on August 18th, 2025, with Demo Day on November 11th. Start your application today and join a vibrant global network of innovators in Tokyo!