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

• 🤝 Diversity Spotlight

• 🚀 Startup Of the Week

• 💼 Investor of the Week

• 🤑 Opportunity Radar

📰 Important News

• The International Technical Female College at Al Ahsa signed an MoU with Hamat to bolster entrepreneurship among Saudi youth, focusing on technology projects and mentorship initiatives for female students.

• UAE-based Tooba launched its charitable crowdfunding app in Malaysia, partnering with the Global Peace Foundation to support the Orang Asli indigenous community.

💸 Top Funding Rounds

• Al Menu secures $10.12 million in funding led by Al Majdiah Investment to enhance its cloud-based restaurant SaaS solutions in Saudi Arabia.

• Saudi ad-tech Quantum secured $7 million in Pre-Series-A funding from HearstLab marking HearstLab's first investment in the region.

• Podeo, a UAE-based podcast distribution platform, raised $5.4 million in Series A funding led by Oraseya Capital to expand into emerging markets.

💰️ Notable Exits

• Marex Group has announced the acquisition of Abu Dhabi-based Aarna Capital to expand its Middle Eastern operations and enhance its clearing services.

🏦 About Investors

• Agility Global invests in a new venture capital fund by Global Ventures to support early-stage startups in the Middle East and Africa focusing on supply chain and tech sectors.

📈 Deep Dive Bites

Check out our latest article to explore how 40 studios in the UAE are nurturing startups and driving economic growth. Whether you're an aspiring entrepreneur or an investor, this guide sheds light on the key players shaping the entrepreneurial ecosystem in the UAE. Don't miss the chance to understand these startup studios’ pivotal role in fostering creativity and technological advancement.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

Al Menu

Al Menu, a burgeoning player in the food and beverage technology sector, has successfully secured $10.12 million in its latest funding round, led by Al Majdiah Investment. This investment aims to bolster Al Menu's cloud-based restaurant SaaS solutions, positioning the company for accelerated growth in Saudi Arabia's restaurant and café industry. Founded in 2022 by Mamdoh Ali, Al Menu provides a digital platform that enables restaurants and cafes to create contactless menus and optimize their operations through innovative applications and strategies. With a dedicated team of experienced Operations Managers, Al Menu tailors its services to meet clients' specific needs, focusing on increasing sales, controlling costs, and enhancing overall efficiency and profitability.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Agility Global

Based in Singapore, Agility Global is a leading multi-business owner, operator, and investor with diversified global assets, committed to achieving healthy returns through active portfolio management and a focus on ESG principles. Recently, the company announced its investment in Global Ventures’ new Fund III, which targets early-stage startups in the Middle East and Africa, particularly in the supply chain technology, energy management, and agri-tech sectors. This partnership with Dubai-based Global Ventures aims to foster innovation and support the region's entrepreneurial ecosystem, building on the successes of previous funds that focused on fintech and digital health.

 🤑 Opportunity Radar

Techstars Anywhere Accelerator

Apply to the Techstars Anywhere Accelerator by May 22nd, 2024, to elevate your startup from anywhere in the world. This innovative remote-first program, designed for companies across various industries, offers access to top-tier mentorship, funding of up to $120,000, and a worldwide network of investors. With three in-person meetups throughout the Americas, you'll gain valuable insights and connections to help you succeed. The accelerator kicks off on September 9th, 2024, and culminates in a Demo Day on December 5th, 2024. Don’t miss this opportunity to join a dynamic community of entrepreneurs and accelerate your business journey.