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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

• Sira expanded to the UAE, as part of its mission to foster an inclusive professional connections network across the MENA region.

• Shahbandr launched video commerce tech helping MENA merchants boost sales via real-time interactive video and live streaming.

• Flipspaces is expanding to the UAE with a $35 million raise to strengthen its tech-led design platform and boost growth.

• Beyond ONE launched FRiENDi Pay in Oman to offer local and international transfers, bill payments, and wallet services.

• MedIQ is expanding to the GCC after a $6 million raise, aiming to lead in innovation and patient-centric solutions.

💸 Top Funding Rounds

• Saudi fintech Nqoodlet raised $3 million to expand its SME-focused platform offering smart corporate cards and expense automation across the Gulf region, aiming to streamline financial operations for SMEs.

• Kuwait-based Actly secured investment from Zain’s innovation arm to scale its AI agents that automate 20,000 monthly chats and enhance CX for enterprises.

• UAE-based Classy Games Studios raised funding from Merak Capital to speed up game development, expand its remote-first team, and grow titles like SillySuspects and new MENA-inspired projects.

💰️ Notable Exits

• Coinbase acquired crypto exchange Deribit for $2.91 billion to expand globally across options, futures, and spot trading.

• CPX Holding acquired UAE-based spiderSilk to boost its global cybersecurity push with AI-powered platforms in North America and the GCC.

• Foras acquired a 10% stake in Canater for $1 million to back its AI logistics platform helping MENA manufacturers expand globally.

🏦 About Investors

• Nama Ventures secured CMA license to operate fully in Saudi Arabia enabling it to launch funds and invest in high-growth startups across MENA and beyond.

• Alchemist Doha partnered with Startup Grind Qatar to boost the local startup ecosystem by connecting founders to global networks and scaling support initiatives.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Nqoodlet

Nqoodlet is a Saudi-based fintech platform founded in 2021 by Mohamed Milyani and Yara Ghouth, offering an integrated financial operating system designed to simplify expense management, VAT automation, and strategic planning for SMEs across Saudi Arabia and the Gulf region. To accelerate its growth, Nqoodlet has secured $3 million in seed funding led by Waad Investment, with backing from OmanTel, 500 Sanabil Investment, and other strategic investors, which will support product development, regional expansion, and team growth.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Nama Ventures

Nama Ventures, a Saudi-based early-stage venture capital firm founded in 2018 by Mohammed Alzubi, focuses on backing technology startups at the pre-seed and seed stages across the MENA region, with a particular emphasis on Saudi Arabia. The firm has now secured full regulatory approval from the Saudi Capital Market Authority (CMA), allowing it to operate as a licensed investment management company in the Kingdom. This milestone enables Nama Ventures to launch its flagship and Shariah-compliant funds locally, deepen ties with institutional investors, and play a more active role in supporting high-growth startups aligned with Saudi Arabia’s Vision 2030.

🤑 Opportunity Radar

Call for Applications: Y Combinator’s Summer 2025 Batch

Apply to Y Combinator’s Summer 2025 Batch by May 13, 2025, to accelerate your startup journey with one of the world’s most prestigious accelerators. The program runs from June to September in San Francisco, featuring in-person meetups, mentorship from experienced YC partners, and access to YC’s powerful alumni network. Selected startups receive $500,000 in funding immediately upon acceptance, and benefit from exclusive investor connections. Don’t miss this chance to join a thriving community of founders—apply today!