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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

• Kuwait's Ministry of Commerce launched securities-based crowdfunding platforms activity to provide more financing options for small businesses, marking a significant step in the country's financial technology sector.

💸 Top Funding Rounds

• UAE fintech Yuze raised $30 million in funding led by Osten Investments to expand its digital financial services for SMEs and freelancers.

• UAE-based food-tech startup MealPlanet raised $6 million in seed funding led by MEVP, AlTouq Group, and others to fuel its expansion and enhance its meal planning and delivery platform.

• Tether invested $3 million in Kuwait's P2P payment app Kem to introduce its stablecoin USD₮ on the platform, aiming to enhance financial inclusion in the Middle East.

• Athir, a Saudi health-tech company, secured its first funding round with investments from Wa’ed Ventures, SHARE Investment Co., and RZM Investment, aiming to revolutionize healthcare management in the Kingdom.

💰️ Notable Exits

• Al Rajhi Bank has acquired a 65% stake in Saudi fintech company Drahim to expand its digital services and strengthen its presence in the growing fintech sector

📈 Deep Dive Bites

Unveil the dynamic forces driving Lebanon's entrepreneurial landscape with a spotlight on its most active venture capital firms. These key players are not just funding startups but are also fueling innovation and economic growth across the region. Curious about who’s behind the most notable startups in Lebanon? Delve into the full article to explore the full list of firms that are making a difference.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

Yuze

Yuze, a UAE-based fintech company founded in 2022 by Rabih Sfeir, has quickly become a significant player in the financial technology sector. The company specializes in providing digital financial services for small and SMEs, e-commerce traders, and freelancers, offering a comprehensive suite of tools including business accounts, payment cards, and merchant acquiring services. In a major development, Yuze recently secured $30 million in funding led by Osten Investments. This investment will support Yuze's ambitious plans to expand its services beyond the UAE, to reach one million SMEs and professionals over the next five years.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Middle East Venture Partners

Middle East Venture Partners (MEVP) recently led a $6 million seed funding round for UAE-based food-tech startup MealPlanet. MEVP, founded in 2010 by Walid Hanna and Walid Mansour, is a major VC firm in the Middle East, focusing on early and growth-stage investments in technology companies across the GCC and Levant regions. With over $300 million in assets and offices in key cities, MEVP is one of the largest and most established firms in the region.

 🤑 Opportunity Radar

Mastercard AI Start Up Challenge

Apply to the Mastercard AI Start Up Challenge by August 25th, 2024, to elevate your AI-driven startup in the UAE. This inaugural challenge, backed by Mastercard, the UAE Artificial Intelligence, Digital Economy and Remote Work Applications Office, and First Abu Dhabi Bank (FAB), offers a grand prize of $150,000, exclusive Mastercard resources, and a fast track to the Mastercard Start Path program. Ideal for seed or series A startups specializing in AI with a focus on Risk & Security, Next-Gen Banking & Finance, Emerging Fintech, or ESG/Sustainability. Submit your application today and position your startup for groundbreaking success in October 2024.