Several startups in the Middle East and North Africa region have secured significant investments, highlighting the growing entrepreneurial ecosystem. Saudi Arabian proptech startup Darent has closed an undisclosed seed funding round, while UAE-based automotive software-as-a-solutions startup Seez secured $4.2 million. Saudi Arabian fintech UmrahCash received a $500,000 investment, and US-based venture capital firm Sultan Ventures acquired Egyptian angel investment syndicate and incubator Acasia Group. Egyptian fintech startup SETTLE raised $2 million in a pre-seed funding round, while Algerian edtech company LabLabee closed a $3.4 million seed funding round. UAE-based B2B marketplace Plain Tiger secured an undisclosed investment, and Egyptian edtech startup Farid raised $250,000 in a pre-seed funding round.
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Original article source: https://www.arabnews.com/node/2572324/business-economy
Source Id: 2024-09-492707985