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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

• 🏦 About Investors

• 📈 Deep Dive Bites

• 🚀 Startup Of the Week

• 💼 Investor of the Week

• 🤑 Opportunity Radar

📰 Important News

• Adam Neumann's real estate startup Flow expands into Saudi Arabia with its first co-living community in Riyadh, offering 238 furnished apartments and planning to operate three properties by year-end to cater to young professionals and expatriates.

💸 Top Funding Rounds

• SHIFT has raised $82 million from Merak Capital to boost its smart mobility and logistics solutions, aligning with Vision 2030.

• Coral, a Dubai-based climate tech startup specializing in carbon emission management, has successfully raised $3 million in a seed round.

• Kuwait-based e-commerce platform Bazzar Gate has secured $1 million in funding to enhance its innovative dropshipping solution.

• KSA-based Mila Celebrations has raised $227,000 in a pre-seed round to enhance its services and expand into the GCC.

💰️ Notable Exits

• Dgpays and Arcapita Consortium acquired a majority stake in UAE payment solutions provider NEOPAY from Mashreq for $385 million, with Mashreq retaining a minority interest.

🏦 About Investors

• Amplify Growth Partnership has launched a $100 million debt fund to support technology-driven companies in MENA.

• Ibtikar Fund II has successfully closed at $25 million, with the EBRD joining as a key partner, enhancing support for Palestinian tech startups.

• General Atlantic plans to open an Abu Dhabi office by year-end with preliminary approval from ADGM.

• Jad Fadl announces the launch of MENA+ Ventures, a syndicate that backs founders with MENA+ heritage building global businesses in the diaspora.

📈 Deep Dive Bites

Discover Saudi Arabia's burgeoning startup ecosystem through its innovative startup studios. From tech incubators to sustainability accelerators, these venture builders drive entrepreneurial growth aligned with Vision 2030. Explore how over 40 diverse studios support emerging businesses, uncover their unique methodologies and specialties, and see how they're shaping Saudi Arabia's economic future!

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

SHIFT

SHIFT, founded in 2017 and headquartered in Jeddah, has quickly risen as a leader in smart transportation solutions. The company offers a comprehensive suite of services, including car-sharing, chauffeur services, car rentals, and leasing, as well as last-mile and line-haul logistics. With a formidable fleet of over 12,000 vehicles operating across 57 cities in the Kingdom, SHIFT is revolutionizing the way people and products move.
Merak Capital’s investment will empower SHIFT to further accelerate its growth trajectory and expand its intelligent mobility solutions.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Amplify Growth

Amplify Growth Partnership, founded in 2023, has launched a $100 million venture debt fund called Amplify Growth Fund I. This sector-agnostic fund targets technology-driven companies in the MENA region, particularly the GCC, offering flexible growth debt capital where traditional venture capital may be scarce. Amplify aims to be a partner in progress for rapidly evolving businesses, providing tailored financial solutions to support visionary entrepreneurs and their venture capital partners in the region's dynamic tech ecosystem.

 🤑 Opportunity Radar

OQ Accelerator

Apply to the OQ Accelerator program by October 15th, 2024, to boost your energy or sustainability startup. Access Oman's thriving ecosystem, expert mentorship, and substantial funding opportunities. The program offers two paths: a 3-month Pre-Accelerator for early-stage concepts, and a 6-month Accelerator for startups with functioning prototypes or initial customer traction. Benefits include grants of up to $50,000, potential follow-on investments of up to $500,000, and over $250,000 in partnership perks. Join a cohort of innovative startups addressing critical energy challenges, with the backing of OQ, a major government-owned energy investment company. Start your application today and accelerate your startup's growth in the dynamic MENA energy sector.