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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

• 🤝 Diversity Spotlight

• 🚀 Startup Of the Week

• 💼 Investor of the Week

• 🤑 Opportunity Radar

📰 Important News

• Swvl launched its regional headquarters in Riyadh, strengthening its GCC presence and supporting Saudi Vision 2030.

• Dubizzle Group is planning a $ 1 billion IPO in 2025 to strengthen its position in the Middle East's online marketplace sector.

• Saudi fintech HALA Payments has joined the Saudi Unicorns Programme, gaining resources for growth and global expansion.

• Google has launched the "AI First" accelerator in MENA to support 15 AI startups across sectors like healthcare and finance.

• SuiHub has launched its first global hub in Dubai's International Financial Centre to promote Web3 innovation.

💸 Top Funding Rounds

• Bahrain's Arab Financial Services has secured $50 million in funding to expand its operations into new markets.

• Dubai-based prop-tech startup PRYPCO secured $10 million in seed funding led by Shorooq Partners and Apparel Group to expand its offerings.

• Saudi-based car subscription startup invygo raised $8 million in Series A extension led by STV’s NICE Fund to expand its "Subscribe to Own" model.

• Saudi Arabian fintech startup Mala secures $7 million in pre-seed funding to launch a Procure Now, Pay Later platform for B2B procurement.

• NOOG has secured a $490,000 pre-seed investment from DeepMinds to develop an innovative health tech solution for camels.

💰️ Notable Exits

• Dubai-based Best Kept Shared acquired GCC's largest fashion resale platform BAZAARA to create the region's biggest sustainable luxury fashion rental and resale marketplace.

🏦 About Investors

• Mubadala Capital has closed its fourth private equity fund, MIC Capital Partners IV, securing $3.1 billion from global investors, surpassing its initial $2 billion target, to invest in middle-market companies across different sectors.

📈 Deep Dive Bites

Discover how 30+ cutting-edge incubators and accelerators are powering the UAE's thriving startup ecosystem. From equity-free funding opportunities to comprehensive support networks, these innovation hubs are transforming ambitious ideas into global success stories across tech, sustainability, aerospace, and beyond. Dive into the full article to uncover how these diverse programs are shaping the Emirates into a world-class entrepreneurial destination while driving forward the nation's knowledge-based economy.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

PRYPCO

Dubai-based proptech startup PRYPCO has secured $10 million in seed funding, led by Shorooq Partners and Apparel Group, to expand its innovative real estate services. Founded by Amira Sajwani, PRYPCO focuses on democratizing property investment in the UAE through services like PRYPCO Blocks, a fractional ownership platform regulated by the Dubai Financial Services Authority. The funding enables PRYPCO to broaden its offerings, including mortgage solutions, exclusive property listings, and UAE residency options via its Golden Visa service. The company aims to drive growth with a target of $250 million in annual recurring revenue by 2027, transforming real estate accessibility in the region.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Mubadala Capital

Mubadala Capital, the asset management arm of Abu Dhabi’s Mubadala Investment Company, has closed its fourth private equity fund, MIC Capital Partners IV, with $3.1 billion in commitments, surpassing its initial $2 billion target. The fund attracted a global range of investors, including US pension funds, sovereign wealth funds, and endowments, underscoring Mubadala's strong appeal. Fund IV focuses on middle-market companies, with key investments in firms like Fortress Investment Group and Canada Cartage, supporting Mubadala’s strategy of global, sector-diverse growth. This new fund expands Mubadala’s portfolio in infrastructure, technology, and logistics, reinforcing its commitment to long-term value creation through strategic acquisitions and partnerships.

 🤑 Opportunity Radar

Call for Applications: OQ Accelerator

Apply to the OQ Accelerator program by October 31st, 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.