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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 🌍

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.

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

• 50 entrepreneurs have graduated from the first batch of The Saudipreneur program with eight projects reaching the finals. The program led by EYouth and VMS Startup Studio aims to train Saudi youth in entrepreneurship and provide them with the necessary resources to build startups.

💸 Top Funding Rounds

• Oman-based Climatetech startup 44.01 has closed a $37 million Series A round co-led by Equinor Ventures and Shorooq Partners to refine its technology further, scale up to commercial-level projects, and expand its operations internationally.

• Dubai-based IT solutions startup Swyt has successfully raised a seed funding round to accelerate research and development efforts and expand its footprint in the Middle East

💰️ Notable Exits

• MENA tech distributor Muller & Phipps Middle East Group has acquired the UAE gaming and esports agency Power League Gaming for an undisclosed sum.

• UAE-based media tech leader Majarra has announced its acquisition of Lableb, an innovative startup specializing in Arabic AI and Natural Language Processing.

📈 Deep Dive Bites

Discover the thriving startup enablers ecosystem of Oman and its leading Incubators and Accelerators. Explore the full article to learn how these programs provide resources, mentorship, and tailored support, driving innovation and entrepreneurial growth across various sectors. Uncover how these initiatives contribute to Oman's economic diversification and shape its future.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

44.01

44.01, an Oman-based climate-tech startup founded in 2020, has developed a technology that permanently eliminates CO2 by turning it into rock through mineralization. The company has recently secured a $37 million Series A funding round co-led by Equinor Ventures and Shorooq Partners, with participation from Air Liquide Venture Capital, and other investors. This significant investment will allow 44.01 to refine its technology further, scale up to commercial-level projects, and expand its operations internationally beyond its current pilots in Oman and the UAE.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Shorooq Partners

Shorooq Partners, founded in 2017 and headquartered in Abu Dhabi, is a leading alternative investment manager in the Middle East and North Africa, with a focus on technology startups across fintech, platform, and software sectors. The firm has recently co-led a $37 million Series A funding round for 44.01, an Oman-based climate tech company that specializes in CO2 mineralization. This investment in 44.01 aligns with Shorooq Partners' mission to propel technological innovation in the region and marks a significant step in supporting innovative climate solutions with global potential.

🤑 Opportunity Radar

Sanabil 500 MENA Seed Accelerator 2024

Join 500 Global's Sanabil 500 MENA Seed Accelerator to scale your tech startup. Benefit from a 12-week program featuring mentorship, growth marketing hacks, and access to a global network. Eligible startups should have a Minimum Viable Product, be located in the MENA Region, and show early traction. Apply before August 10th, 2024, for a chance to receive an equity investment of $100,000+ and participate in the renowned Demo Day for the MENA region. The next batch starts in September 2024 – don't miss out!