The wire

Saudi Arabia's Jada Fund of Funds, owned by the Public Investment Fund (PIF), commits to Growth Catalyst Fund I, a private equity fund targeting $200 million to invest in growth-stage Saudi SMEs. Jada did not disclose the size of its commitment. The fund, led by Turki Al-Dayel, focuses on founder-led, upper-middle-market companies in Saudi Arabia, with flexibility to invest in growth-stage and pre-IPO businesses that have outgrown venture capital but are not yet ready for public markets. The fund aims to bridge Saudi Arabia's SME financing gap of SAR 300-500 billion, supporting companies through their expansion phase prior to exits via IPOs, strategic acquisitions, or secondary transactions.

Bundle, a UAE-based Web3 rewards startup, has emerged from stealth after raising $5.5 million in a pre-Seed round led by Ethereal Ventures and Further, with participation from Nascent, GSR, Scenius Capital, Anchorage Digital, and Nuwa Capital. The startup is building a blockchain-powered rewards platform that enables brands to pool their incentive budgets into shared reward pools, allowing businesses to offer larger rewards while lowering customer acquisition costs. During a pilot across five markets, Bundle distributed $100,000 to more than 1,100 winners, including a $50,000 grand prize, while participating brands recorded conversion rates of up to 4x compared with traditional incentive campaigns. Bundle plans to launch initially in Singapore...

UAE-based longevity healthtech company Longevium has raised $7 million in its first funding round to establish an AI-powered Longevity Research Laboratory at Dubai Science Park, led by founder Dr Ksenia Butova. The facility is expected to open in Q4 2026 and will focus on research and development rather than clinical services. The laboratory will combine artificial intelligence, biomedical research, and clinical science to develop technologies that predict health risks, measure biological ageing, and support healthier lifespans. Research will cover AI-powered digital twins, regenerative medicine, tissue engineering, advanced cell therapies, robotic diagnostics, smart medical devices, and noble gas therapies. The funding will be used to build the laboratory and expand research into next-gen…

Egypt-based Beltone Venture Capital completes a partial exit from BirdNest, generating a 3.5x return on invested capital and an 80% IRR over a two-year period. The exit covers Beltone's direct investment and its indirect stake via a joint fund with UAE-based Citadel International Holdings, while Beltone retains a strategic stake in BirdNest. The move reflects Beltone's disciplined investment strategy and aims to return capital to investors while supporting BirdNest's next growth phase. BirdNest offers a technology-powered marketplace for curated boutique ho… (BirdNest was founded in 2019 by Mostafa Elnahawy.)

MENA startup funding rose modestly in July 2026, but the rebound was largely debt-driven, with equity investment remaining subdued. Startups across the Middle East and North Africa raised $172.6 million across 45 deals during the first month of the second half of 2026, up 16% from June but still 78% below the amount recorded in July last year. The monthly increase therefore offers only a partial improvement. Debt accounted for 56% of total funding in July, compared with 11.5% in June and just 2% in July 2025. Saudi Arabia returns to the lead as startups based in the kingdom raised $106.6 million across 16 transactions, accounting for nearly 62% of the month’s total.

Egyptian healthtech startup Reme-D has raised $1.45 million in a Pre-Series A funding round led by Anara Impact Capital, with participation from the Global Innovation Fund, Africa Health Ventures, and other investors, to expand its manufacturing capacity, regional footprint, and diagnostic product portfolio. Founded in 2023 by Salma Tammam, Reme-D develops and manufactures molecular diagnostic tests for diseases including tuberculosis (TB), HIV, hepatitis, and HPV, with a focus on delivering affordable, temperature-resilient diagnostics for underserved markets across Africa. The new funding will also support the development of new diagnostics for genetic diseases and cancer, alongside expanding production capacity by tenfold.

Saudi B2B e-commerce and fintech platform SILQ has secured a $20 million Shariah-compliant structured financing facility from Gemcorp Capital to expand embedded financial services for SMEs in Saudi Arabia. Formed following the merger of Sary and ShopUp, SILQ operates a B2B commerce ecosystem serving more than 50,000 businesses in Saudi Arabia through its procurement platform Sary and embedded finance platform Fina, enabling over SAR 10 billion in B2B commerce during 2026. The financing will be deployed through Fina to expand invoice financing, trade finance, and other embedded financial services, strengthening financial inclusion for SMEs while marking Gemcorp's first direct lending transaction, first Shariah-compliant financing structure, and first mezzanine facility in Saudi Arabia.

Qatar-based fintech SkipCash has secured a strategic investment from Qatar International Islamic Bank (QIIB) to accelerate its growth and regional expansion. The financial terms of the deal were not disclosed. Founded in 2019 by Mohammed Abdulaziz AlDelaimi, SkipCash provides digital payment solutions for businesses, including online payment gateways, merchant acquiring, QR payments, payment links, Tap to Phone (SoftPOS), and integrated payment technologies. The investment will be used to expand SkipCash's digital payment infrastructure, accelerate product development, strengthen its merchant ecosystem, introduce new fintech solutions, and support its expansion across GCC markets through strategic partnerships. Last February, SkipCash secured $4 million in a Series A round , led by Qatar D… (translated as needed, details preserved)

Saudi Arabia-based enterprise AI startup MOZN has secured a strategic investment from HUMAIN, along with a partnership to develop sovereign AI solutions for financial institutions and public sector organisations in Saudi Arabia and global markets.

Saudi insurtech DESAISIV has launched its AI Insurance Agent, an AI-powered platform for managing and optimising corporate insurance, while opening an $8 million growth funding round to scale the business.

enMaintenance of Government Resource Planning (GRP) Systems

Public Technical and Vocational Training Corporation – Purchases Department - Procurement/Competitions; IT activity; Tender type: General competition; Reference number: 260739009954; Deadline for submissions: 2026-08-21

enDevelopment of Digital Systems and Services for the History of the Saudi State

Authority: King Abdulaziz Foundation — Procurement · Activity: IT · Tender type: Open competitive bidding · Reference number: 260739010877 · Deadline for proposals: 2026-09-04

enSupport and Maintenance of Software and Licenses for Electronic Government Transactions Technical Systems

Entity: Saudi Authority for Government Digital Transformation — Procurement Administration · Activity: Information Technology · Competition Type: Public Tender · Reference Number: 260839001058 · Last Submission Date: 2026-09-04

enRenewal of managed services for the institution's SMS system

The entity: General Authority for Military Industries – General Administration of Contracts and Procurement · Activity: IT · Type of competition: Public tender · Reference number: 260839000485 · Last date for submitting bids: 2026-08-19

Saudi Arabian insurtech DESAISIV has launched an AI platform to automate corporate insurance management and opened an US$8 million growth funding round. The company plans to use the capital to expand its product portfolio beyond corporate health insurance, entering areas such as motor insurance, leasing, general insurance, and other AI-powered enterprise risk solutions.

enDevelopment and Enhancement of Security and Compliance of the Correspondence System

Entity: Saudi Space Agency 20251231 SAUDI SPACE AGENCY1 — Competitions Department · Activity: Communications and Information Technology · Competition Type: Open Competition · Reference Number: 2000002538 · Last date for submissions: 2026-08-20

UAE-based Deep Finance Capital has launched as the first AI-native asset management company in the Dubai International Financial Centre (DIFC), operating under the regulation of the Dubai Financial Services Authority (DFSA) and serving institutional and professional investors across real estate, private equity, commodities and special situations. The company, which emerged from Rasameel Investment House Ltd., has developed NEXT, a proprietary AI-powered investment framework through its technology subsidiary Deep Finance Analytics, to support the full investment lifecycle, including deal sourcing, due diligence, risk assessment and portfolio monitoring. Headquartered in DIFC's Emirates Financial Towers, Deep Finance Capital aims to connect European institutional capital with investment oppo…

enFLOATY Studio Secures $1 Million from Merak Capital

Saudi Arabia-based FLOATY Studio has raised $1 million in a funding round led by Merak Capital through the Merak Gaming Fund.

Saudi Venture Capital (SVC) has invested in SEEDRA Ventures Fund II, a venture capital fund managed by SEEDRA Ventures, to support early-stage, high-growth technology startups in Saudi Arabia. The fund targets sectors including artificial intelligence (AI), fintech, proptech, SaaS, logistics, and other technology-enabled industries, with a focus on early-stage companies. Through the investment, SVC aims to expand access to institutional capital for Saudi founders, aligning with its strategy of supporting startups from pre-seed through pre-IPO.

Egypt-based e-commerce operations platform Fincart has raised an oversubscribed $2.8 million Seed round, co-led by Launch Africa and Antler MENAP, with participation from Yango Ventures, Five35 Ventures, Bluestream Capital, Hi2 Global, Kalahari Venture Labs, and other regional investors. Founded in 2023 by Mostafa Masry and Nihal Ali, Fincart provides an AI-powered operating platform that enables merchants to manage shipping, customer engagement, and cash advances through a single interface, integrating with more than 40 courier companies across Africa. The fresh capital will be used to further develop Fincart's AI platform, expand its team, strengthen strategic partnerships, and accelerate its expansion across the MENA and African markets. The company currently serves more than 450 merchants.