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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

• 🚀 Startup Of the Week

• 💼 Investor of the Week

• 🤑 Opportunity Radar

📰 Important News

• Egypt-based e-commerce furniture marketplace Kemitt has expanded into Saudi Arabia following an undisclosed funding round aimed at improving the platform, scaling logistics, and establishing local partnerships.

• CSC Jordan and Egypt's Banknbox have partnered to boost financial inclusion and offer advanced services by integrating their systems and linking applications in MENA’s fintech sector.

💸 Top Funding Rounds

• Saudi logistics platform OTO raised $8 million in a Series A round led by Sanabil Investments to expand in Saudi Arabia, UAE, and Turkey, and enhance its platform.

• UAE-based Ogram closed a funding round led by Oraseya Capital with participation from Aditum Investment Management and Everywhere VC, to expand into the Saudi Arabian market.

• Saudi startup Tech Mal, specializing in residential real estate rental financing, has raised SAR 3.75 million ($1M) in a pre-seed round led by Al Majidiya Investment Company.

• UAE fintech Mamo has secured $3.4 million in funding from 4DX Ventures, the Dubai Future District Fund, and Cyfr Capital.

• Corrsy, an EdTech startup with Finnish and Iraqi origins, has raised $500,000 in a pre-seed round led by EQIQ with participation from notable investors including SuperChargers Ventures and Durubi Management.

💰️ Notable Exits

• Emirates Driving Company has acquired a 51% stake in Excellence Premier Investment to boost training programs and support growth in the GCC.

• Asyad Group, Oman’s global logistics provider, has acquired Skybridge Freight Solutions to expand its international footprint and access SFS's network across 90 geographies.

🏦 About Investors

• Jordan’s Innovative Startups and SMEs Fund (ISSF) has increased its investment in the Oasis Ventures II fund (OVII), managed by Oasis500, from $3 million to $5 million.

• UAE-based VC fund Shorooq Partners has led a $1.5 million pre-Series A round in Pakistan’s mobility startup Zyp Technologies.

• Wa’ed Ventures, Saudi Aramco’s $500 million venture arm, has invested $15 million in South Korean chipmaker Rebellions Inc. to advance AI in Saudi Arabia, support its partnership with Samsung, and establish operations in the region.

📈 Deep Dive Bites

Explore 12 influential angel investing networks in the UAE, bridging ambitious startups with savvy investors. Discover how these diverse platforms are shaping the MENA startup ecosystem, offering more than just capital. Delve into the full article for more details on each one.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

OTO

Founded in 2019 by Mohammad AlRazaz and Furkan Uzar, Saudi Arabia-based OTO is a logistics technology company that simplifies order shipping, management, tracking, returns, and analysis through an integrated platform. Recently, OTO raised $8 million in a Series A funding round led by Sanabil Investments, with participation from Sadu Capital, Iliad Partners, Propeller, and Soma Capital. The company plans to use these funds to expand its presence in Saudi Arabia, UAE, and Turkey while introducing new features and enhancements to its platform to better serve its customers and maintain its competitive edge in the logistics technology market.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Oasis500

Oasis500, established in 2010, is a prominent Jordan-based pre-seed and seed fund manager and accelerator, dedicated to empowering early-stage ICT companies through investment, acceleration programs, technical supervision, networking, managerial services, and mentorship. Recently, Jordan’s Innovative Startups and SMEs Fund (ISSF) increased its investment in the Oasis Ventures II fund (OVII), managed by Oasis500, from $3 million to $5 million. This partnership has resulted in investments in 36 startups, 36% of which are led by female founders, creating 300 direct and 1,000 indirect jobs, highlighting Oasis500's significant impact on the local entrepreneurial ecosystem and economy.

🤑 Opportunity Radar

Qatar FinTech HUB - Wave 6

Apply now for Wave 6 of the FinTech Incubator & Accelerator Program, designed for early to MVP-stage startups and those with market traction. This 12-week program offers specialized workshops, skill-building opportunities, and comprehensive support including 1:1 mentorship with subject matter experts. Participants will benefit from business development opportunities with key ecosystem players, regulatory and commercial licensing support, and pre-seed investment of up to $170,000, along with follow-on investment support. Don’t miss out—submit your application by August 17, 2024, to take your fintech startup to the next level.