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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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📰 Important News

• Abu Dhabi launched new initiatives to simplify business setup, boost SMEs, and foster innovation as it strives to diversify its economy away from oil.

• Oman unveiled its National Intellectual Property Strategy to boost innovation and IP protection, aligning with Vision 2040.

• Uber and WeRide have launched a commercial robotaxi service in Abu Dhabi, marking Uber’s first international autonomous vehicle offering.

• TASMU Accelerator’s 2024 program announced 25 selected startups from 14 countries, supporting innovation as part of Qatar’s Digital Agenda 2030.

• Masdar City in Abu Dhabi introduced two low-cost new business packages, Start Lite and Business One, to attract startups.

💸 Top Funding Rounds

• KSA-based edtech Aanaab secured a $7 Million Series A round led by Dallah Investment Holding to support teacher development across MENA.

• The Binary Holdings raised $5 Million from ABO Digital to expand its decentralized digital economy platform and launch a digital bank by 2025.

• UAE-based startup Playgama raised $3 Million in funding led by The Open Platform and s16vc to enhance its HTML5 game development platform.

• Rio Ferdinand invested in Saudi sports platform Koora Break in a multi-million-dollar deal to support its expansion into Europe and Asia.

• Saudi-based Abikhdmh secured $798,545 in seed funding to expand its platform with services like flight bookings and employment solutions.

💰️ Notable Exits

• Saudi beauty e-commerce platform Nice One has set its IPO price range between $8,52 and $9,32 per share, aiming for a $1 billion valuation.

• National Bank of Kuwait acquired a 51% stake in UPayments, a leading Kuwaiti e-payment company.

• Iraqi travel startup Safr has been acquired by a regional investor marking a significant milestone for Iraq's startup ecosystem.

🏦 About Investors

• Saudi Venture Capital invested in Aliph Fund I, a $250 million private equity fund by Aliph Capital, to boost mid-market SMEs in the GCC.

• Jada Fund of Funds invested in Jadwa GCC Private Equity Fund I, targeting $400 million to support businesses across the GCC.

• Saudi firm Edafa Venture Capital launched "Startup Sync," a platform connecting Egyptian startups with investors.

• Mubadala Investment Company announced its largest healthcare investment by acquiring a minority stake in Zelis, a U.S. technology provider.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Aanaab

Aanaab, a Saudi Arabia-based edtech platform founded in 2019 by Dr. Munira Jamjoom, Naila Al-Khalawi, and Fouad Al-Farhan, has raised $7 million in a Series A funding round led by Dallah Investment Holding, with participation from Wamda Capital, Rethink Education, and Noor Nawaf Knowledge Fund. Specializing in professional development for K–12 teachers, Aanaab offers a range of Arabic-language courses, licensing, and qualifications to enhance teaching standards. With over 200,000 educators and 250 schools across 10 MENA countries using its platform, Aanaab aims to expand its offerings to new sectors and upgrade its AI-driven technological infrastructure. This investment aligns with Saudi Arabia's Vision 2030 and supports Aanaab's mission to empower educators and drive digital transformation in education.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Saudi Venture Capital

Saudi Venture Capital (SVC) is a government-backed investment firm established in 2018 under Monsha'at as part of Saudi Arabia's Private Sector Stimulus Program, with an initial capital of $750 million. Tasked with enhancing the Kingdom's venture investment landscape, SVC focuses on empowering startups and SMEs through strategic investments and partnerships. Recently, SVC invested in Aliph Fund I, a $250 million GCC-focused growth fund managed by UAE-based Aliph Capital, reflecting its commitment to supporting mid-market companies in Saudi Arabia and the GCC. CEO Dr. Nabeel Koshak emphasized that this aligns with SVC’s mission to foster economic growth and innovation through targeted investments in high-potential businesses.

 🤑 Opportunity Radar

Call for Applications: Imagine H2O 2025

Apply to the Imagine H2O 2025 programs today and take your water innovation to the next level. The Accelerator program, with over fourteen years of experience, connects early-stage startups to a network of industry experts, investors, and customers to help commercialize and scale their solutions. Open to global applicants, the program offers tailored support for startups with less than 7 years in operation, under $5 million in revenue, and less than $10 million in equity investment. Don't miss the chance to accelerate your path to market—apply by December 14th, 2024, and join a global community driving water innovation.