Hello there,

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 🌍

If you haven't subscribed yet, now's the perfect time. Don't miss the opportunity to supercharge your understanding and stay ahead in this dynamic world.

Ready? Let’s get right into it.

📰 Important News

• Meta AI has launched in the MENA region, now fully available in Arabic across Meta’s apps in key markets offering AI-powered assistance for free.

• UAE-based digital business banking platform Yuze will expand to India in Q2 2025, offering financial solutions to SMEs and freelancers.

• Penny Software has partnered with Saudi Arabia’s National Housing Company to launch digital procurement platform SupplyPro.

• Dubai Chambers has signed an MoU with the U.S. Chamber of Commerce to enhance trade relations and support bilateral economic growth.

• RAK Digital Assets Oasis launched the $2 million Builder’s Oasis accelerator with XDC to support Web3, AI, and blockchain startups.

💸 Top Funding Rounds

• Dubai-based AI startup qeen.ai secured $10 million in a seed round led by Prosus Ventures to enhance its AI-driven e-commerce solutions.

• Omani climate tech startup 44.01 completed an additional $5 million in its Series A round to expand its carbon mineralization technology.

• Myne closed a $2 million pre-seed round led by Scene Holding to enhance its financial management platform and expand across the Gulf region.

• UAE-based VISARUN.AI secured $700,000 in pre-seed funding to enhance its AI-powered visa processing platform.

• Saudi legaltech platform Mohami raised $267,000 in pre-seed funding to enhance AI-driven legal services and expand in Saudi Arabia.

💰️ Notable Exits

• SiFi acquired Neya Technologies to enhance financial services in KSA, securing a Central Bank license and partnering with the Ministry of Finance to serve 500+ companies.

• Coface signed an agreement to acquire Cedar Rose Group, enhancing its business information services in the Middle East and Africa.

• Veefin Group, through Estorifi Solutions, has acquired Dubai-based TradeAssets to enhance its trade finance ecosystem.

• Above Food signed an LOI to acquire Palm Global Technologies, expanding into Agri-Tech, FinTech, and sustainability.

• LOGIC Holding acquired a majority stake in NEXEL to enhance its digital transformation capabilities, expanding its market reach across the Gulf.

🏦 About Investors

• Rasmal Ventures secured funding from QIA’s $1 billion Fund of Funds program to fuel its Rasmal Innovation Fund I, aiming to raise $100 million.

• Smpl Fund I invested $250,000 in multiple tech companies within Qora71’s portfolio to drive AI innovation and support the growth of the ecosystem.

• Saudi Venture Capital Company has invested $1 billion in 54 funds, supporting over 800 startups and SMEs, according to its latest report.

• Saudi Arabia’s PIF will back a $5 billion basketball league spanning Asia and Europe aimed at competing with the NBA.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Qeen.ai

Dubai-based AI startup Qeen.ai has secured $10 million in seed funding to enhance its AI-driven e-commerce platform, which helps automate content creation, marketing, and sales for small and mid-sized businesses. The funding round was led by Prosus Ventures, with support from Wamda Capital, 10X Founders Fund, and Dara Holdings. Founded by Morteza Ibrahimi, Ahmad Khwileh, and Dina Alsamhan, who previously worked at Google and DeepMind, Qeen.ai aims to scale its operations and strengthen its position in the rapidly growing e-commerce sector.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Rasmal Ventures

Rasmal Ventures, founded in 2023, is Qatar’s pioneering independent venture capital firm. The firm has quickly positioned itself as a key player in the regional venture capital ecosystem, with a strong focus on driving technological advancements and supporting high-growth startups. Rasmal Ventures recently secured significant backing from the Qatar Investment Authority’s $1 billion Fund of Funds program for its inaugural Rasmal Innovation Fund I, which aims to raise $100 million. The fund will target startups in fintech, B2B SaaS, healthtech, and AI, aligning with Qatar's economic diversification goals. Led by Alexander Wiedmer, Soumaya Ben Beya Dridje, and Dr. Shaikha Al-Jabir, Rasmal Ventures seeks to empower transformative technology companies across Qatar, the MENA region, and internationally.

 🤑 Opportunity Radar

Call for Applications: Y Combinator Spring 2025

Apply to the Y Combinator Spring 2025 Batch by February 11th, 2025 to join one of the world’s most prestigious startup accelerators. The batch, held in San Francisco from April to June 2025, offers access to $500,000 in funding, top-tier mentorship, networking opportunities, and a vibrant community of founders. Participants will work closely with experienced YC General Partners, attend weekly meetups, and gain insights from renowned startup leaders like the founders of Airbnb and Stripe. Don’t miss the chance to secure funding and accelerate your startup journey—apply now and unlock lifelong connections within YC’s powerful alumni network.