Author: Arabian Media staff

Oraseya Capital, the venture capital investment arm of the Dubai Integrated Economic Zones Authority (DIEZ), announced over $1 million in investments, spread over seven technology startups. The investments, announced at the conclusion of the fourth accelerator programme by SANDBOX, envisage each startup receiving $150,000 (AED 570,000). The seven startups that received funding include Qureos, a recruitment tech startup, Herogo, the sustainable food tech subscription platform for fruit and vegetables, Lisan, a deeptech generative AI startup specialising in Arabic linguistics, Sthrive, a B2B SaaS platform for retailers designed to boost sales and employee performance and Zoya, a fintech startup that makes…

The region’s Rhinos – a term used for resilient and successful startups with valuations over $100 million – are projected to create an over $50 billion market cap through initial public offers (IPOs). Over 60 Rhinos in the region, including fintech ventures such as Tabby and Tamara, foodtech ventures Kitopi and ToYou, classified ventures such as Bayt and Property Finder and the B2B/SaaS ventures such as FOODICS and UNIFONICs, are the ones expected to hit the market over the next five years, new market research by global consultancy RedSeer said. “MENA’s Rhinos have been the backbone of the region’s digital…

In 2024, there are 1,241 unicorn startups worldwide, with the US accounting for 662, or more than half of the total. Among these, San Francisco hosts 175 unicorns, representing 26.44 percent of the US total and an increase from 171 in 2023. New York follows with 118 unicorns, while Beijing has 65, London 42, and Shanghai 38, a report from stock market specialists BestBrokers said. San Francisco-based unicorn companies make up just 14.10 percent of the global total, yet they collectively contribute an impressive $781.31 billion to the world’s entire unicorn valuation, which stands at $3.899 trillion. This represents a…

In the business world, a “unicorn” refers to a privately held startup company valued at over $1 billion. The term was coined by venture capitalist Aileen Lee in 2013 to signify the rarity of such successful startups, much like the mythical unicorn. These companies are often characterised by rapid growth, innovative technology, and the potential to disrupt traditional industries. Source link

In the first half of the year, DMCC recorded 1,023 new member company registrations to take its total to almost 25,000 companies across its business district. As it registers significant growth in commodity markets, finance and technology it will look to real estate and AI for ongoing expansion. DMCC free zone growth in Dubai   DMCC now accounts for 15 per cent of all foreign direct investment (FDI) in Dubai, up from 11 per cent last year, as well as 7 per cent of the emirate’s GDP. As part of its efforts to attract the next wave of global investment…

Dubai-based E Daddy, a startup operating in the sustainable urban mobility segment, announced securing a $15 million investment. The investment will help the company to lead the charge in electrifying the UAE and beyond, the company said. Mansoor Ali Khan Abdul Buhari, Founder and CEO of E Daddy, said the company is committed to championing the development of eco-friendly automobiles, and is proud to be the first company to manufacture vehicles end-to-end in Dubai. Yasmeen Jawahar Ali, Co-Founder and COO of E Daddy, said with the investment of $15 million, the company’s vision of building a future where transportation is…

PostEx, one of Pakistan’s leading fintech, announced raising $7.3 million in a pre-Series A funding round. The company said the proceeds will be used for consolidating its market leadership in Pakistan, besides supporting an aggressive expansion into the GCC. The GCC expansion will enable new markets and customers access to PostEx’s services, the company said. The latest funding was led by Conjunction Capital, the technology-focused, global venture capital firm. Other participants included new investors such as Dash Ventures and Sanabil500, besides existing investors VSQ, FJ Labs, and Zayn VC. CEO and Founder Muhammad Omer Khan said while the GCC and…

The event, which brought together a diverse group of business owners, entrepreneurs, and industry professionals, provided a unique platform for attendees to explore emerging market opportunities, foster business collaborations, and gain valuable insights from the UAE’s leading market players. Saif Alsuwaidi, Director of SPC Free Zone, in his opening remarks emphasised the importance of creating spaces where entrepreneurs can engage, learn, and grow together. “In today’s rapidly evolving market, understanding the strategies that drive sustainable growth is more important than ever,” he said. William Saad, General Manager of Alaan, said sustainable business growth requires a strategic blend of cost management…

The shots were heard in central Gaza early Saturday, hours after the Israeli military said its troops were preparing for a major advance into the territory. Source link

The Authority of Social Contribution – Ma’an announced its latest social incubator programme in partnership with startAD, the startup accelerator powered by Tamkeen and anchored at NYU Abu Dhabi. The latest edition will be themed ‘Entrepreneurship for Social Impact’. The Ma’an social incubator is designed to support the development of a vibrant network of social enterprises that drive social innovation, bring best practices to solve Abu Dhabi’s social challenges, and empower startups to develop solutions or services. Applications for this cohort are open till September 10, 2024. Startups can apply for the programme if their business is aimed at addressing…