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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

• The 2025 World Government Summit concluded in Dubai, bringing together 140 governments, 80 organizations, and 6,000 participants.

• Salesforce is investing $500 million in Saudi Arabia to expand AI skilling, enhance its local partner ecosystem, and support enterprises with AI solutions.

• Elon Musk's Tesla, in partnership with Dubai authorities, will build the Dubai Loop, an underground transport network inspired by the Las Vegas Loop.

• Microsoft, G42, and MBZUAI are launching a Responsible AI foundation in Abu Dhabi to promote ethical AI practices.

• The UAE signed a financial cooperation agreement with Saudi Arabia and investment agreements with Eswatini and Sri Lanka to enhance economic ties, investor protection, and regional financial collaboration.

💸 Top Funding Rounds

• Tabby secured $160 million in Series E funding to expand beyond BNPL with new financial services, accelerate growth, and prepare for an IPO.

• AppliedAI raised $55 million in Series A funding led by G42 at a $300 million valuation to enhance AI medical billing and insurance claims processing.

• Merit Incentives secured $28 million in Series B funding to expand its loyalty platform, which connects 5,000 brands across 100+ countries.

• ULA closed a $28 million Series B round to expand in Saudi Arabia and launch an AI-powered digital education platform.

• BRKZ raised $17 million in Series A funding to enhance its construction procurement platform supporting major projects across Saudi Arabia.

💰️ Notable Exits

• Saudi digital bank Derayah set its IPO price at $8 per share, valuing the company at $2 billion, with the total size of the offering being $400 million.

• Mush Social acquired Pubbles to expand its user base, enhance its digital presence, and integrate interactive virtual communities.

• Salla acquired Sweply to integrate digital advertising with e-commerce, enabling merchants to launch and optimize ad campaigns.

• Foodics acquired UK-based Solo Venture to enhance self-ordering technology and is investing $100 million over three years in startups.

• T2 acquired a majority stake in Saudi fintech startup Moola to expand into financial services and strengthen its market presence beyond Saudi Arabia.

🏦 About Investors

• Saudi-based VC firm Suhail Ventures launched a $50 million fund to invest in early-stage fintech, insurtech, logistics, and AI startups across MENA.

• UTOPIA Capital secured funding from Qatar Investment Authority to support high-growth startups in emerging markets.

• Saudi Development Bank increased its gaming and esports funding to $122.12 million and its overall tech financing to $239.43 million.

• TAQADAM, led by KAUST and SAB, awarded $1 million to 10 startups at its 8th annual showcase, supporting Saudi tech entrepreneurship.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Tabby

Tabby, a Saudi Arabia-based fintech, secured $160 million in Series E funding, raising its valuation to $3.3 billion ahead of an IPO. Led by Blue Pool Capital and Hassana Investment Company, the round follows its $200 million Series D in 2023. Founded in 2019 in the UAE by Hosam Arab, Tabby has expanded beyond BNPL into digital financial services, including Tabby Card, Tabby Plus, and its recent acquisition of Tweeq. The new funding will support its growth in digital payments and financial management, aligning with Saudi Arabia’s Vision 2030 push for a cashless economy.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Suhail Ventures

Suhail Ventures, a Saudi-based venture capital firm focused on early-stage technology startups, has launched a $50 million investment fund to support fintech, insurtech, logistics, and AI startups across Saudi Arabia and the MENA region. Announced during the LEAP 2025 Tech Conference in Riyadh, the fund targets startups from pre-seed to Series A that have launched products, demonstrated initial traction, and possess scalable business models. Suhail Ventures aims to provide not only capital but also strategic mentorship and market access, fostering high-growth, innovation-driven companies with the potential for global impact.

 🤑 Opportunity Radar

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