RIYADH: Startups across the Middle East and North Africa are attracting fresh capital, forging strategic partnerships, and expanding into new verticals as regional innovation gains momentum.
Saudi Arabia-based automotive services platform Morni has received new investment from STV via its recently launched $100 million NICE fund.
The funding amount remains undisclosed but is expected to support Morni’s expansion beyond roadside assistance into a broader automotive services ecosystem.
The company now operates in auctions, insurance third-party administration, garages, and parts recycling.
Founded in 2015 by Salman Al-Suhaibaney, Morni positions itself as a technology-driven mobility platform at the center of Saudi Arabia’s automotive digital transformation.
Valu lists on Egyptian Exchange
Valu, a buy now, pay later fintech platform founded in 2017 and operating under EFG Hermes Holding, has officially listed its shares on the Egyptian Exchange.
The listing was achieved via a non-public, in-kind dividend distribution of 20.49 percent of Valu’s share capital by EFG Holding to its shareholders.
Amazon has acquired a 3.95 percent stake in Valu at 6.041 Egyptian pounds per share, while EFG Finance Holding retains a 67 percent ownership post-listing.
Valu now operates in both Egypt and Saudi Arabia and claims to have captured a 25 percent share of Egypt’s consumer finance market.
In 2024, Valu reported a 66.5 percent growth in issuances, significantly outpacing the broader market’s 31.2 percent growth rate.
AppliedAI raises $55m in series A round
UK-founded and UAE-based AppliedAI has raised $55 million in an oversubscribed series A round led by G42, Bessemer Venture Partners, and strategic partner e&.
Middle East Venture Partners also participated in the round, which will support the company’s global expansion and deepen its reach across the MENA region.
Founded in 2021 by Moataz Khamis, Mahmoud Khaled, and Ahmed Emara, Nowlun provides an online freight forwarding platform that lets users compare and book shipping services. (Supplied)
AppliedAI, founded in 2021 by Arya Bolurfrushan and relocated to the UAE in 2022, uses artificial intelligence to automate the processing of medical billing records and insurance claims — an area typically reliant on slower, manual outsourcing methods.
The new capital injection follows a $42 million raise in 2022 from G42 and the Al Maktoum family.
The company now plans to strengthen its product offerings and increase partnerships within the UAE’s emerging AI ecosystem.
Nowlun raises $600k to embed AI in logistics
Egyptian logistics startup Nowlun has secured a $600,000 seed round extension led by Ingressive Capital, raising its total funding to $2.3 million.
The Cairo-based company provides an online freight forwarding platform that lets users compare and book shipping services tailored to their needs.
Founded in 2021 by Moataz Khamis, Mahmoud Khaled, and Ahmed Emara, Nowlun plans to use the funds to scale its AI-powered Smart Logistics Assistant, expand operations across Egypt and Saudi Arabia, and improve decision-making in the region’s fragmented shipping industry.
“This is more than just funding; it’s a strategic push to embed AI at the core of logistics,” said CEO Moataz Khamis.
“We’re building your smart Logistics Assistant — a tool that puts decades of industry expertise in the palm of your hand, helping you make faster, smarter shipping decisions every day.”
Roomz.rent raises pre-seed funding
Egyptian startup Roomz.rent has closed a pre-seed funding round led by Qora71, Hub71’s angel syndicate, with participation from other regional angel investors.
Founded in 2024 by Ahmed Mandour and Yasser Al-Sarrag, Roomz.rent provides AI-powered room and flatmate matching services for furnished rentals on flexible leases.
The new capital will be used to scale operations in Egypt, enhance the platform’s technical capabilities, and expand into new urban centers across the MENA region.
The company aims to establish a leading regional co-living brand focused on convenience and compatibility.
Related secures $8m in new funding
UAE-based loyalty and rewards company Related has raised $8 million in new funding from Saudi investment firm Equivator.
Founded in 2014 by Rabih Farhat, Related offers loyalty programs and a digital rewards infrastructure across sectors including telecom, banking, retail, utilities, and entertainment.
The investment will be used to roll out AI- and blockchain-based solutions, improve gamification tools, and support expansion into the Saudi market and other territories.
Additionally, Related will launch the “Related Loyalty & Fintech Authority,” a regional forum aimed at advancing policy and knowledge in the loyalty sector.
“We are thrilled to welcome Equivator as a strategic partner on our journey to redefine loyalty and engagement in the region,” said Farhat, CEO of Related, adding: “This partnership is more than a transaction; it’s a transformation, a joint mission to reshape the future of fintech-powered loyalty solutions in line with the Kingdom’s innovation agenda.”
Netaj launches Iraq-focused venture studio Nawat
Iraq-based innovation platform Netaj has launched Nawat, a venture capital studio providing a structured six-month program for 40 early-stage startups.
Nawat includes three tracks — ideation, minimum viable product, and early-stage — accompanied by bootcamps, mentorship, and access to capital.
The studio offers hybrid investments combining in-kind support of $10,000–$25,000 and direct capital of $25,000–$250,000 via convertible notes or equity.
Nawat expects to back five to 10 high-potential companies with the aim of building scalable, investor-ready businesses capable of regional growth.
Aria Ventures commits $1m to early-stage deep tech
Cairo-based venture studio Aria Ventures has launched a $1 million investment initiative to support early-stage deep tech startups in Egypt over 2025–2026, with plans to increase this to $4 million over four years.
The studio focuses on startups in AI, robotics, biotechnology, and other science-intensive sectors.
Aria Ventures’ approach involves end-to-end company building — offering support from ideation to product development, infrastructure, legal, and commercialization.
This is complemented by strategic capital deployment aimed at turning pioneering research into scalable, investor-ready businesses.
The studio recently introduced the DeepTecher competition to identify high-potential innovations that can be developed into viable companies.
Winners will receive investment and access to Aria’s venture-building resources.
Talenteo raises undisclosed investment to expand in Francophone Africa
Algerian human resources tech startup Talenteo has secured an undisclosed six-figure investment from Tunisia-based 216 Capital.
Founded in 2022 by Tarik Metnani and Louai Djaffer, Talenteo provides HR and payroll management software tailored to African SMEs and mid-sized companies.
The new funding will be used to support Talenteo’s entry into Tunisia, accelerate product development, and facilitate expansion across Francophone Africa.
The company aims to offer comprehensive HR solutions for a region often underserved by enterprise-grade platforms.
