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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

• Mistral AI launched Mistral Saba, a 24-billion-parameter language model tailored for the Middle East and South Asia, supporting Arabic and Indian.

• Falak Investment Hub and Bayan Platform released a report on AI venture investing in Saudi Arabia.

• British AI cloud firm Ori is set to establish a regional subsidiary in Riyadh, after receiving a strategic investment from Wa’ed Ventures.

• ZIWO launched ZIWO AI, introducing sentiment analysis and voice intelligence with Arabic dialect support to enhance customer experience.

• stc.AI has launched a sovereign cloud platform with Stc Enterprise GPT, designed to support Saudi developers with advanced AI tools.

💸 Top Funding Rounds

• The Box raised $12.5 million in debt financing from Shorooq to expand its facilities, amid growing demand for flexible storage solutions in the UAE.

• MANSA secured $10 million, led by Tether, to expand its stablecoin-powered liquidity solutions for cross-border payments across LATAM and SEA.

• Blum obtained $5 million from investors to scale its Telegram-based decentralized trading, refine its trading bot, and expand across blockchain networks.

• Ibtikar Fund invested in SellEnvo to fuel its global expansion, enhance AI-powered e-commerce solutions, and scale sales and marketing.

💰️ Notable Exits

• Alpha Data is planning to raise up to $163.2 million through an IPO in Abu Dhabi, valuing the company at up to $408 million, with stock trading expected to start around March 11.

• Pinewood Technologies acquired 90.9% of UAE-based Seez for $42 million to enhance its AI-powered automotive SaaS platform.

• Huda Beauty is selling its fragrance brand KAYALI to co-founder Mona Kattan and General Atlantic, with KAYALI set to operate independently.

• InCred Group acquired Arrow Capital to expand its wealth management operations, gaining new offices in Dubai, Singapore, and London.

🏦 About Investors

• Saudi-based Palm Ventures launched a $30 million fund to support early-stage AI, fintech, and business solutions startups in MENA and the US.

• Golden Gate Ventures partnered with Oman Investment Authority’s IDO to foster Oman's startup ecosystem and expand its innovation economy.

📊 Investment Highlights

Despite regional funding challenges, Bahrain's startup ecosystem is proving resilient, with standout companies securing substantial investments. From Ahlan App’s $3 million funding to Receiptable’s pre-seed round, these startups are positioning themselves for significant growth. Explore how these innovative ventures are transforming industries from foodtech to fintech, and how their expansion plans will shape Bahrain’s entrepreneurial future. Delve into the full article to discover the details behind these funding rounds and how these startups are navigating the evolving market landscape.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

The Box

The Box, founded in 2007 by Wadih Haddad in the UAE, is a leading self-storage provider offering modern, adaptable storage solutions for individuals and businesses. With unit sizes ranging from 25 to 1,000 square feet, the company has built a strong reputation for convenience, security, and innovation in urban storage. To support its expansion, The Box has secured $12.5 million in debt financing from Shorooq Partners’ Credit Practice, which will fund a new flagship facility in Dubai and enhance its smart storage solutions, reinforcing its position as a key player in the region’s growing self-storage industry.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Palm Ventures

Saudi-based Palm Ventures, founded by Dr. Yassir Nasief and Eng. Redwan Abudawood, has closed a $30 million investment fund to support early-stage AI, fintech, and business solutions startups across MENA and the U.S., reinforcing global tech collaboration. Established in 2014 and evolving into a standalone VC firm in 2021, Palm Ventures has backed over 40 startups, playing a key role in fostering digital transformation in the region. Beyond capital, the firm provides strategic guidance and leverages its network to accelerate startup growth, positioning itself as a major enabler of MENA’s innovation ecosystem and bridging regional startups with global advancements.

 🤑 Opportunity Radar

Call for Applications: Global Entrepreneurship Challenge 2025

Apply to the Global Entrepreneurship Challenge 2025 by March 4, 2025, for a chance to launch and scale your startup in Japan’s dynamic business ecosystem. Backed by the Tokyo Metropolitan Government, this program offers international entrepreneurs mentorship, networking with local businesses, and full travel support to Japan. Whether your innovation focuses on sustainability, digital transformation, education, or culture, this is your opportunity to establish your business in one of the world’s leading markets. Don’t miss your chance to be part of this global initiative—apply now and take your venture to the next level in Tokyo!