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 Public Investment Fund and Google Cloud have partnered to establish an AI hub in Saudi Arabia projected to contribute $71 billion to the GDP.

• Dubai has launched multiple initiatives under its Economic Agenda D33 including training 5,000 Emirati students and supporting 100,000 startups.

• Qatar's MCIT has launched a strategic partnership between the Digital Incubation Center and Startup Grind to enhance the tech ecosystem.

• Eighteen Palestinian startups showcased innovative solutions at the Expand North Star Conference in Dubai, gaining exposure and opportunities crucial for their growth and Palestine's economic recovery amid ongoing challenges.

• Vezeeta has launched an innovation hub called "Vezeeta Lab" to enhance digital healthcare services in Saudi Arabia and the UAE.

💸 Top Funding Rounds

• stc Group's Tali Ventures has invested $10 million in NorthLadder's Series B funding round to promote sustainable growth in the tech sector.

• Qatar-based delivery startup Pass raised $2.7 million in pre-Series A funding to drive expansion into Egypt and Saudi Arabia.

• Saudi Nabt raised $1.5 million in seed funding from Merak Capital to develop its B2B marketplace that connects Saudi farmers with businesses.

• Ark Platform secured $1 million in pre-seed funding led by Core Vision Investments to expand its Sharia-compliant utility contract trading platform.

• Adaverse invested $450,000 in Tharawat Green Exchange (TGE) to drive local carbon offset initiatives through blockchain-based solutions.

💰️ Notable Exits

• Edafa Venture Capital has acquired Taskedin, a digital HR solutions provider, in a six-figure deal aimed at enhancing Taskedin's market presence in the Gulf.

🏦 About Investors

• Beta Lab has launched a $300 million fund to drive MENA and Southeast Asia tech growth aligning with Saudi Arabia’s Vision 2030.

• Wa’ed Ventures committed $100 million to develop KSA’s AI sector, aiming to position the Kingdom as a major player in AI and regional tech leadership.

• ISSF has invested $5 million in Rua Growth Fund to fuel Jordanian startups in fintech, SaaS, and marketplaces.

• Gulf Islamic Investments has raised an additional $100 million to enhance private equity investments in Saudi Arabia and the GCC.

• BIM Ventures and SBI Holding have launched a joint venture intending to raise $200 million to drive investments across the Middle East.

📈 Deep Dive Bites

Discover the vibrant ecosystem of Qatar's incubators and accelerators, essential players in fostering innovation and entrepreneurship across diverse sectors. These programs provide crucial resources, mentorship, and funding, empowering startups to thrive in a competitive market and contributing to the nation’s economic diversification. Explore how initiatives like Alchemist Doha, the Qatar FinTech Hub, and the WISE Edtech Accelerator are shaping the future of Qatar's entrepreneurial landscape. For a detailed look at each program and its impact, check out the full article to uncover the driving forces behind Qatar's emerging startup scene.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

NorthLadder

NorthLadder, a trade-in platform for reselling used electronic devices, recently secured $10 million in a Series B funding round led by stc Group's Tali Ventures. The funding round also included participation from the Dutch Founders Fund and Crescent Ventures. This investment supports NorthLadder's mission to promote sustainable growth and circular economy practices by monetizing and repurposing electronics. The platform operates in over 10 countries, providing trade-in services for both individual and corporate clients. This strategic investment aligns with stc Group’s commitment to digital transformation and sustainability.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Beta Lab

The Beta Lab Fund, a $300 million initiative launched at the 2024 Future Investment Initiative (FII) conference, aims to accelerate startup growth in MENA and Southeast Asia. Founded by a coalition including the Saudi Ministry of Investment, the Research, Development, and Innovation Authority (RDIA), Hong Kong Science and Technology Parks Corporation (HKSTP), and MDI Ventures from Telkom Indonesia, the fund focuses on high-impact sectors like fintech, AI, digital health, and smart mobility. By fostering strategic partnerships and providing capital to early- to late-stage startups, Beta Lab seeks to drive cross-border innovation and support regional entrepreneurs in addressing key challenges.

 🤑 Opportunity Radar

Call for Applications: YC W25

Apply to Y Combinator's Winter 2025 Batch by November 12th, 2024, to supercharge your startup journey. Gain access to a world-class ecosystem, resources, and networking opportunities in the heart of San Francisco. The YC program is designed for founders at all stages, from those with just an idea to companies with significant traction. Begin your application process today and join the ranks of successful startups like Airbnb, Stripe, and Reddit. The batch runs from January to March 2025, featuring weekly meetups, eminent speakers from the startup world, and dedicated support from experienced YC partners. Don't miss this chance to tap into YC's $600B combined valuation network and receive $500,000 in funding to kickstart your company's growth.