Hello there,

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

• 🏦 About Investors

• 📈 Deep Dive Bites

• 🚀 Startup Of the Week

• 💼 Investor of the Week

• 🤑 Opportunity Radar

📰 Important News

• The German University of Technology in Oman has signed an MoU with Al-Adaa for Business Incubators and Accelerators to establish and manage a University Startup Studio.

• Aramco Digital and Groq will establish the world's largest inference data center in KSA, aiming for 53 million tokens per second by 2025.

• Healthtrip.com, a UK-based medical travel platform, has expanded to the Middle East with offices in the UAE and Saudi Arabia, aiming to meet growing healthcare demand and promote the region as a health tourism hub.

• UAE-based Pluto has partnered with Saudi fintech neoleap to enhance its services in Saudi Arabia.

💸 Top Funding Rounds

• UAE-based automotive SaaS startup Seez raised $4.2 million to expand into the US market.

• Darent, a vacation rental platform in Saudi Arabia, secured seed funding led by Al Tawuniya Insurance to enhance its platform and support AI development.

• Adaverse has invested $500,000 in UmrahCash, a fintech startup focused on enhancing the pilgrimage experience through a currency exchange platform.

🏦 About Investors

• Sharaka Financial launched its "Sharaka Ventures" fund to invest in early-stage tech startups in MENA, focusing primarily on fintech and business software companies.

• Mubadala, Abu Dhabi's sovereign wealth fund, acquired a stake in fintech firm Revolut through a $500 million employee share sale in August 2024.

📈 Deep Dive Bites

Uncover the dynamic landscape of Middle Eastern startups revolutionizing industries with Techstars backing. From UAE-based AmplifAI Health's innovative diabetic care to Saudi Arabia's DawaFast transforming pharmacy access, these ventures are reshaping sectors across the region. Delve into the full article to learn how these startups are driving innovation, attracting global recognition, and contributing to the Middle East's burgeoning tech ecosystem.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

Seez

Seez, the UAE-based automotive SaaS startup co-founded by Tarek and Andrew Kabrit, has raised $4.2 million in funding from international investors to accelerate its expansion into the US market, one of the world's largest automotive sectors. Founded in 2015, Seez is a pioneer in AI solutions for the automotive industry, featuring products like Seezar, an AI chatbot aimed at improving customer interactions. This investment will enable Seez to enhance its innovative AI SaaS modules, having already established a presence in markets including the UK, Australia, and South Africa.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Sharaka Financial

Riyadh-based Sharaka Financial has launched its inaugural investment vehicle, the Sharaka Ventures Fund, targeting high-growth tech startups across the MENA region, with a focus on fintech and business software. Established in late 2023 and licensed by the Saudi Capital Market Authority, Sharaka seeks to capitalize on the remarkable twelvefold surge in MENA tech startup funding.

 🤑 Opportunity Radar

Risin Ventures - Sustainova Challenge 2024

Apply to the Sustainova Challenge 2024 by September 25, 2024, and position your sustainability-focused startup in the spotlight. Showcase your innovative solutions to sustainability activists, investors, enterprise stakeholders, and the VC community. The challenge offers unparalleled networking opportunities with industry experts, investors, and like-minded entrepreneurs, fostering collaboration and creating powerful partnerships. Selected finalists will join the UAE Edition event on October 15, 2024, to present their vision.