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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

• 🏦 About Investors

• 📈 Deep Dive Bites

• 🚀 Startup Of the Week

• 💼 Investor of the Week

• 🤑 Opportunity Radar

📰 Important News

• Delivery Hero announced plans to list Talabat on the Dubai Financial Market in Q4 2024, marking the exchange's first tech IPO, while retaining majority ownership.

• Saudi Arabia’s Tourism Development Fund graduated 15 tourism startups from the "TDF Grow Accelerator" securing over $5 million in investments after completing over 20 training sessions.

• UAE's Marlan Space and Loft Orbital have launched Orbitworks with $100 million aimed at building up to 50 LEO satellites annually, using UAE technology and targeting its first launch by early 2026.

💸 Top Funding Rounds

• UAE-based Web3 streaming platform myco raised $10 million in the first closing of its Series A at an $80 million valuation, backed by investors like Daman Investments and Aptos Labs.

• Verofax, a UAE-based Web3 services provider raised $3 million in a bridge round to expand its AI and AR marketing solutions in the Middle East, EU, and North America.

• UAE-based e-commerce platform Powder Beauty closed its Pre-Series A funding round led by Sophia Collective, NKEHL, Nithin, and Nikhil Kamath, with plans to scale operations in Saudi Arabia.

• Travilege, an ERP software for travel agencies, and Tajweed, a Quran and Arabic teaching platform, received investments from Bahrain-based angel investment company Tenmou.

• Thakaa Med, an AI-driven healthcare startup based in Riyadh, secured an undisclosed seed investment from Falak Angel Investment Network.

💰️ Notable Exits

• Kuwait-based real estate marketplace Sakan acquired Qatari proptech Hapondo to expand its services in Qatar, leveraging Hapondo's client and developer network.

🏦 About Investors

• GCC investors and family offices led by Yaser AlGhamdi have launched Waad Investment, an investment firm targeting $200 million to support emerging companies in the region.

📈 Deep Dive Bites

Explore the dynamic venture capital landscape of the UAE, where leading firms like Beco Capital, Global Ventures, and Wamda Capital are driving innovation and fueling growth across a wide range of sectors. From fintech to health tech, these key players are reshaping the startup ecosystem and contributing to the UAE's reputation as a global startup hub. Dive into the full article to uncover detailed insights on these influential firms, their investment focuses, and standout portfolio companies.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Myco

UAE-based Web3 streaming platform myco has secured $10 million in the first closing of its Series A round, valuing the company at $80 million. The funding, supported by investors such as Daman Investments, Aptos Labs, and B Digital, will help myco expand into new markets and finalize a second closing by early 2025. Founded in 2021, myco offers a decentralized streaming platform where viewers and creators earn from content. With nearly 10 million users and over 2,000 creator channels, myco is also innovating with its Cineverse concept, enhancing the content experience in the metaverse.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Waad Investment

Waad Investment, a new firm led by Saudi investor Yaser AlGhamdi, has been established with a target fund size of $200 million. Backed by GCC investors and family offices, including AlMajed and AlMisfer families, Waad Investment aims to support growth-stage startups across the Middle East. The firm seeks to enhance innovation and economic development by providing capital, mentorship, and a strong network to emerging companies. This initiative is poised to be the largest private investment firm in the region focused on nurturing startups.

 🤑 Opportunity Radar

500 Global - Flagship Accelerator

Apply to 500 Global’s Flagship Accelerator in Silicon Valley by October 11, 2024, to propel your startup to new heights. This renowned program offers seed investment of $150,000 and access to a comprehensive four-month curriculum designed to accelerate growth and scaling. Hosted at 500 Global’s headquarters in Palo Alto, California, the accelerator provides invaluable resources, including guidance from over 4,000 founders and 400 mentors, hands-on support with business strategy, and connections to a vast global network. Don’t miss the chance to be part of a program that has shaped successful startups for over a decade. Apply today and elevate your startup with 500 Global.