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.

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.

Saudi Arabia-based game development studio Ash Games has raised a $1.5 million Seed round, co-led by Merak Capital and Impact46 through the Merak Gaming Fund, to accelerate its global expansion. Founded in 2022 by Anas Bakhsh, Yaser Alahmadi, and Saud Bakolka, Ash Games develops PC and console action-adventure games inspired by Saudi culture, history, and mythology. Its flagship title, Nomad, is scheduled for release on PC, PlayStation, and Xbox in 2027. The funding will support game development, expand the studio's team, and strengthen its international publishing efforts as the company aims to bring Saudi-inspired gaming experiences to players worldwide.

UAE-based fintech Epic Markets has raised $10 million in a pre-Seed funding round from Karatage, the round's sole investor, to develop a multi-asset brokerage platform for retail investors.

Egyptian construction technology startup Kuadra has secured a funding round led by Edafa Venture Capital to support the launch of what it describes as Egypt's first unified AI-powered platform for managing the entire construction project lifecycle.

Syria-based super app Labby has raised $10 million from UAE and Saudi investors, marking the first direct foreign investment in a Syrian technology startup and accelerating product development, platform expansion, and digital transformation efforts in Syria.

Egyptian CNC manufacturing startup Simplex has inaugurated its second manufacturing facility in 10th of Ramadan City, spanning 40,000 square metres with investments totalling $50 million, while laying the foundation stone for its third factory. In January 2025, Simplex raised $13 million led by Saudi Arabia's National Industrial Development Centre.

RiseUp, A15 and BitRoot have launched the first NVIDIA SIGNALS event in Egypt, introducing local AI founders to NVIDIA's global startup ecosystem through an inaugural session held at the Grand Egyptian Museum. Led by Basil Fateen, NVIDIA's Head of Startups and VC for the Middle East and Africa, the event explored emerging AI trends, the NVIDIA Inception programme, and investor expectations for AI startups, alongside discussions with founders from Intella, Valify Solutions, Paymob, and Bluworks. The initiative marks the beginning of a recurring programme in Egypt that will connect AI entrepreneurs with NVIDIA's technical expertise, GPU resources, strategic partnerships, investors, and the wider NVIDIA Inception network.