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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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Let's delve into the core sections of our weekly newsletter:

• 📰 Important News

• 💸 Top Funding Rounds

• 💰️ Notable Exits

• 📈 Deep Dive Bites

• 🚀 Startup Of the Week

• 💼 Investor of the Week

• 🤑 Opportunity Radar

📰 Important News

• WakeCap, a Saudi-based IoT platform for construction management, has acquired Crews by Core, an AI-powered project delivery platform. The companies’ solutions are already deployed on major sites across the US, Saudi Arabia, UAE, and Japan. As part of the deal, WakeCap will establish an R&D headquarters in Silicon Valley to strengthen its construction tech leadership and leverage Crews by Core’s Silicon Valley experience.

• Egypt's EXITS MENA, a MENA-focused fintech platform, has launched a joint venture in Saudi Arabia to facilitate M&As and investments, backed by a partnership with a group of esteemed Saudi investors led by Ammar Ahmed Shata, the founder of Gotrah Ventures, who will also act as the non-executive chairman of the new joint venture.

💸 Top Funding Rounds

• Saudi edutainment platform Jeel has raised a seven-figure funding round from RZM Investment and Angels to expand its Arabic content app across the Arab region. Founded in 2020 by Ahmed Sobaih, Jeel provides Arabic content for children, adolescents, parents, and educators.

💰️ Notable Exits

• India's leading crypto exchange, CoinDCX, has acquired UAE-based BitOasis, marking its entry into the Middle East and North Africa (MENA) region. The terms of the acquisition remain undisclosed, but this strategic move highlights CoinDCX's ambitions for global expansion and new growth opportunities.

📈 Deep Dive Bites

The Middle East startup ecosystem faced challenges in H1 2024, with funding dropping 35% to $753 million across 162 deals due to regional conflicts. Despite this, the UAE and Saudi Arabia emerged as resilient hubs, leading in both deal count and funding. Notable investments like Salla's $130 million raise highlight the region's ongoing potential.

Read the full article for a comprehensive analysis of funding trends, key players, and significant deals shaping the Middle East's evolving startup landscape amid regional challenges.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

BitOasis

BitOasis was acquired last week by CoinDCX as part of the latter’s global expansion strategy. Founded in 2015 by Daniel Robenek and Ola Doudin, BitOasis is a cryptocurrency trading platform offering a digital asset wallet and exchange to buy, sell, and trade. Its multi-signature wallet and exchange service focus on cash-based emerging markets that enable enterprises to protect their assets while adding an extra layer of security. Post-acquisition, BitOasis will maintain its brand and leadership team, continuing to manage the exchange.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

RZM Investment

Last week, RZM Investment led a $400,000 funding round for Saudi-based Jeel. Established in 2008 and transformed into a holding group in 2014, RZM is one of Saudi Arabia's pioneering family businesses to adopt a holding structure. Specializing in managing shares across its portfolio of companies, RZM has consistently focused on the service sector since its inception. With over 18 investments to date, including more than 6 in venture capital, RZM has supported startups such as Rewaa, Manafa, and Fodel.

🤑 Opportunity Radar

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