- Firms continue to seek cross-border expansion and increase their offerings
RIYADH: Startups across the Middle East and North Africa region witnessed multiple funding rounds across various sectors over the past week, as firms continue to seek cross-border expansion and increase their offerings.
This momentum builds on the record $3.5 billion funding received by startups in September, marking a 914 percent month-on-month and 1,105 percent year-on-year leap, according to Wamda data. Saudi Arabia topped the regional charts, with 25 startups collectively raising $2.7 billion.
The sustained momentum in early-stage funding reflects continued investor interest in the region amid global economic headwinds.
Saudi Arabia’s Ghanem raises $7.1m
Saudi Arabia-based property tech firm Ghanem has raised $7.1 million from Al-Romaih Group, one of the leading investment groups in the Kingdom, with experience in the real estate and financial sectors.
In a press statement, the company said that the investment will help the firm to expand its product development, as well as diversify investment opportunities in Saudi Arabia’s real estate market.
“We are proud of our partnership with Al-Romaih Group, which shares our vision of developing the real estate investment sector and enabling more individuals to benefit from fractional ownership opportunities,” said Saleh Al-Ghamdi, CEO and co-founder of Ghanem.
He added: “This investment will help us expand our product offerings, advance our technology, and strengthen our market presence, contributing to the realization of Saudi Arabia’s Vision 2030 and broadening the base of real estate investment in the Kingdom.”
Nabta Health closed $2m pre-Series A round
UAE-based Nabta Health has closed a $2 million pre-Series A funding round, bringing its total funding to date to $4.5 million.
In a press statement, the company said that the funding will help expand its operations across the MENA region.
The financial assistance will also be used to build partnerships with employers, insurers, and health care providers; introduce new diagnostic and at-home testing pathways; and strengthen Nabta’s clinical infrastructure in collaboration with leading hospitals.
We are now looking to accelerate our growth so that more women and employers benefit from what we believe is the future of women-centered health: affordable, mobile-first, and engineered for sovereignty.
Sophie Smith, founder and CEO of Nabta Health
“We are delighted to have closed this Pre-Series A round and to bring our total funding to date to $4.5 million. This investment validates our vision — that women’s health in the region can be reimagined through an AI-powered, hybrid care model that meets women where they are, respects cultural context and delivers measurable outcomes,” said Sophie Smith, founder and CEO of Nabta Health.
She added: “We are now looking to accelerate our growth so that more women and employers benefit from what we believe is the future of women-centered health: affordable, mobile-first, and engineered for sovereignty.”
Takadao raises $1.5m
Saudi-based fintech firm Takadao has raised $1.5 million in a seed round led by investors including Hasan VC, Syla Invest, Wahed Ventures, as well as Ice Blue Fund, Istari Ventures, Adverse, and Draper Associates.
This brings Takadao’s total funding to $3.1 million, according to a company statement.
The company said that the seed round was intentionally structured to attract investors aligned with Takadao’s mission and active in Shariah-compliant and globally diverse markets.
Founded in 2022, Takadao offers its users two Shariah-compliant blockchain-based services: savings and loans and cooperative life insurance.
Alongside the funding, the company also unveiled The LifeCard, a prepaid Visa card enabling users to spend stablecoins like cash anywhere VISA is accepted.
SahmAlgo raises $1m
SahmAlgo, a fintech firm based in Saudi Arabia, has announced the closure of its $1m seed round, led by Gharesah Investment.
The company, in a press statement, said that the investment will accelerate the development of SahmAlgo’s advanced AI tools across the Saudi market and the wider region.
The new capital will be allocated to expanding AI algorithms, enriching the platform’s data assets, enhancing system reliability in line with the fast-moving Saudi market, and launching new institutional products with direct integrations for brokers and asset managers.
Yasser Farha, co-founder and CEO of SahmAlgo, said that the funding will deepen the firm’s AI research, enable the launch of institutional-grade products, and support its ambition to build the most intelligent and trusted financial information source for investors in Saudi Arabia.
Shatib secures $750k pre-seed
Shatib, a technology firm based in Saudi Arabia, has announced the closing of a SR2.8 million ($750,000) pre-seed round from a strategic angel investor.
Founded in 2024, this platform helps developers and contractors access more competitive prices by aggregating orders from multiple projects, thus helping them achieve cost savings ranging between 20 and 35 percent compared with typical market prices.
Kingpin raises $3.5 million
Kingpin, a UAE-based AI-native Software-as-a-Service company, has raised $3.5 million in a seed funding round to accelerate its global distribution platform.
According to a press statement, the funding round was backed by US-based Infinity Ventures, Red Swan Ventures, Mu Ventures, as well as UAE-based COTU and Outliers, with support from Hub71.
The new funding will help Kingpin expand engineering and product teams, strengthen its AI capabilities, and expand its operations beyond the Middle East to Europe and North America.
“Coming from three generations across both sides of the industry, retail and distribution, we’ve been building Kingpin with a first-hand understanding of the main challenges — from new customer/supplier discovery, to deciding what and how much to buy, all the way to managing orders, shipments and financing,” said Harsh Sajnani, co-founder and CEO of Kingpin.
He added: “It’s a privilege to be building in the AI era: it allows us to combine technology, deep industry expertise and relentless execution to deliver real value to our customers.”
Kingpin currently serves over 300 distributors and brands across multiple retail sectors, including beauty, fashion and sports.
The company is part of the Mubadala-backed Hub71 ecosystem in Abu Dhabi, benefitting from the UAE’s AI innovation landscape and access to global markets.
“We backed Kingpin because they’re bringing AI-native infrastructure to one of the largest and least-automated sectors of the global economy. With deep wholesale experience and exceptional execution, the team is transforming fragmented retail operations into intelligent, scalable workflows for brands, distributors, and their retail partners,” said Mario Ruiz, co-founder and managing partner at Infinity Ventures, which led the round.
Source: www.arabnews.com