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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

• 📋️ Curated Lists

• 📈 Deep Dive Bites

• 🎙️ Expert Insights

• 🤝 Diversity Spotlight

• 🚀 Startup Of the Week

• 💼 Investor of the Week

• 🤑 Opportunity Radar

📰 Important News

• Qatar has announced a $12 million investment package to support 11 global startups, aiming to enhance its position as a regional innovation hub.

• Zand Bank and Paymentology have partnered to enhance fintech services in the MENA region.

• The Saudi Central Bank has issued a digital brokerage license to Mal Fintech, bringing the total number of licensed companies to four.

• Oman Lens launched its first satellite, OL-1, marking the country's entry into space tech, supporting Oman’s Vision 2040 to diversify its economy.

• Sulaiman Al-Rajhi University has partnered with the Center for Innovation and Entrepreneurship to establish a startup incubator in Saudi Arabia.

💸 Top Funding Rounds

• KSA Fintech Lean Technologies raised $67.5 million in Series B funding to scale its open banking and pay-by-bank services across MENA.

• UnifyApps raised a $20 million Series A led by Iconiq Growth with Elevation Capital to expand its AI-powered SaaS platform across the Middle East.

• Pemo, a Dubai-based spend management platform, raised $7 million in Pre-Series A funding to fuel its expansion in the MENAP region.

• Popcorn AI has secured $500,000 in Pre-Seed funding to enhance its interactive commerce solutions and expand its team.

• Bubbl, a social networking app launched in March, raised $350,000 in Pre-Seed funding to grow its user base to 1 million.

💰️ Notable Exits

• Talabat Holding has announced its intention to list on the Dubai Financial Market through an IPO offering 15% of its shares.

• Japanese company giftee has acquired 91% of UAE-based YOUGotaGift for $26.6 million, expanding into the GCC's digital gift card market.

• QiCard acquired Iraq’s largest e-commerce platform, Miswag, for a seven-figure sum, enabling integration with its SuperQi app and services.

• G42 acquired the remaining shares of Astra Tech, making the platform fully Emirati-owned, as founder Abdullah Abu Sheikh steps down.

🏦 About Investors

• Saudi Arabia's Life Ventures Capital Fund has launched at Bibaan 24 Forum with a $50 Million target to support life sciences startups.

• Dubai Angel Investors has partnered with MEVP to manage DAI’s portfolio of 30+ investments and continue hosting its Pitch Nights.

📋️ Curated Lists

Discover the influential international angel investors fueling innovation in the MENA startup ecosystem in 2024. From seasoned experts like Allison Pickens backing B2B AI companies to Marc Lore supporting meal delivery ventures, these investors are not only providing capital but also invaluable mentorship. Their contributions are propelling high-potential startups such as Cercli, LabLabee, and Wattnow to new heights. Check out the full article to learn more about these investors and the startups they support.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

Lean Technologies

Lean Technologies, a Riyadh-based fintech platform specializing in open banking solutions, has raised $67.5 million in a Series B funding round led by General Catalyst, with participation from Bain Capital Ventures, Duquesne Family Office, and Arbor Ventures. This latest investment brings Lean’s total funding to over $100 million, supporting the expansion of its open banking and pay-by-bank services across the MENA region. Founded by Hisham Al-Falih, Ashu Gupta, Aditya Sarkar, and Mehdi Tazi, Lean Technologies is a key player in the Middle East’s fintech ecosystem, providing data and payment tools to power the next generation of financial products.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Life Ventures Capital Fund

The Life Ventures Capital Fund was launched in Saudi Arabia at the Beban 24 Forum with a target capital of $50 million to support life sciences startups. The event, which attracted over 182,000 visitors and featured 1,350 startups from 72 countries, highlighted Saudi Arabia's commitment to fostering innovation under its Vision 2030 strategy. The fund is part of broader efforts to diversify the economy and boost private sector growth, particularly in technology, health, and renewable energy sectors, with the government aiming to generate 50% of its power from renewable sources by 2030.

 🤑 Opportunity Radar

Call for Applications: Agrytech Accelerator Program

Apply now for the Agrytech Accelerator Program by Berytech, open until December 1, 2024, and take your agrifood tech startup to the next level. This dynamic 10-month program offers up to $100,000 in grants, specialized business support, and access to a network of experts, investors, and industry leaders. With a proven track record of fostering Lebanon's most innovative agrifood startups, Agrytech is designed for entrepreneurs ready to scale their tech solutions and make an impact in the sector.