Browsing: Innovation
AfricInvest Maghreb Private Equity Fund IV, administered by AfricInvest, a leading African investment platform, has invested USD 30 million in a Pre-Series B funding round in ArabyAds, a leading MENA region AdTech firm.
The Group 42 fund will operate as a private equity investor and will target high-growth markets.
Egyptian fintech firm Lucky has signed a partnership agreement with Egyptian on-demand warehousing and fulfillment platform, Khazenly. Lucky is a digital rewards app, users of which enter a points reward system to obtain discounts on purchases from over 20,000 local and international brands.
Tech African Women (TAW) is a joint initiative by the United Nations Economic Commission for Africa (ECA), in partnership with tech venture firm Betacube. TAW seeks to support female-led idea stage startups from Ethiopia, Senegal, Tanzania and Tunisia.
Appetito, an Egyptian online grocery service and Purity, a Saudi-based IT infrastructure firm, have signed an MoU to expand the former’s services across the MENA region.
Egypt’s Convertedin has raised USD 3 million in a round featuring regional and international investors.
MENA unicorns set to emerge due to favorable regional conditions, according to a recent report by Saudi firm STV.
MENA startups raised USD 105 million in July, the lowest monthly amount recorded so far this year, according to regional startup investor and development platform Wamda.
Dubai Chambers welcomed 10 decision makers from Ethiopia’s private and public sectors to discuss closer cooperation between the two countries. The delegates aimed to explore Dubai’s advances in digital services, to discuss the creation of business partnerships and to sign agreements in support of the Digital Ethiopia 2025 Strategy.
Backed by local and international capital, Cartona seeks to “turbo charge” expansion.