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Startup Wrap — Saudi Arabia leads MENA startup activity as UAE crowns new unicorn 

Saudi Arabia-listed Jahez Group has signed a definitive agreement to acquire a 76.56 percent stake in Qatar’s Snoonu for $245 million. (Supplied)
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Updated 15 July 2025
Nour El-Shaeri 
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Startup Wrap — Saudi Arabia leads MENA startup activity as UAE crowns new unicorn 

  • New unicorn emerges in UAE amid mixed funding trends across MENA
Updated 15 July 2025
Nour El-Shaeri 

RIYADH: Saudi Arabia continued to dominate startup momentum while the UAE saw a new unicorn emerging amid mixed funding trends across the region at the beginning of July.

Digital freight platform TruKKer, headquartered in the Kingdom, has raised $15 million in private credit investment from Ruya Partners through its Ruya Private Capital I fund.  

The funding will be used to support the company’s expansion across regional markets, advance its proprietary artificial intelligenceI-enabled logistics platform, and further consolidate its position in the freight tech space. 

Founded in 2016, TruKKer operates in nine countries and connects over 60,000 transporters with more than 1,200 enterprise clients through its real-time freight marketplace.  




Digital freight platform TruKKer has raised $15 million in private credit investment from Ruya Partners through its Ruya Private Capital I fund. (Supplied)

The new capital follows a $100 million pre-IPO round in 2022 led by Bahrain’s Investcorp, signaling continued investor confidence in the platform’s scaling potential across the Middle East and North Africa. 

Tarmeez Capital raises strategic round to accelerate sukuk innovation 

Saudi fintech startup Tarmeez Capital has raised a strategic round led by Tali Ventures, the corporate venture capital arm of stc group.  

Launched in 2022 by Nasser Al-Saadoun, Tarmeez Capital aims to democratize sukuk issuance, offering a digital platform that it says can process transactions at seven times the speed of traditional methods. 

The platform currently supports over 180,000 users and is focused on enhancing access to Islamic financial instruments.  

The company plans to use the funds to expand its retail sukuk offerings and support Saudi Arabia’s Vision 2030 initiative, particularly in driving financial inclusion across the population. 




Saudi fintech startup Tarmeez Capital has raised a strategic round led by Tali Ventures, the corporate venture capital arm of stc group. (Supplied)

Rekaz raises $5m seed round to expand SaaS for service SMBs 

Riyadh-based Software-as-a-Service company Rekaz has secured $5 million in seed funding to scale its operating system for service-based small and medium-sized businesses.  

The round was led by COTU Ventures, with participation from Impact46, Shorooq Partners, Numrah Capital, and several angel investors. 

Founded in 2017 by Abdulrahman Al-Omran and Abdulaziz Al-Kharashi, Rekaz provides an integrated platform that includes scheduling, subscription management, payments, and customer engagement tools for businesses such as gyms, salons, clinics, and home service providers.  

The company plans to channel the new capital into deepening AI functionality, expanding across the Gulf Cooperation Council markets, and accelerating product development. 

Jahez Group acquires 76.56% stake in Qatar’s Snoonu for $245m 

Saudi Arabia-listed Jahez Group has signed a definitive agreement to acquire a 76.56 percent stake in Snoonu, a leading Qatari e-commerce and delivery company, for $245 million.  

The transaction includes $225 million for a 75 percent equity stake in existing shares and a $20 million capital injection for a newly issued 1.56 percent stake. 

The acquisition marks Jahez’s formal entry into the Qatari market and is expected to enhance operational synergies across logistics, on-demand delivery, and e-commerce across the GCC.  

Snoonu, now valued at over $300 million, will continue to operate under its own brand, led by founder and CEO Hamad Al-Hajjri, who retains a 23.44 percent stake in the company. 

Huspy raises $59m series B to expand in Europe and Saudi Arabia 

UAE and Spain-based property tech platform Huspy has raised $59 million in a series B round led by Balderton Capital, with participation from Peak XV, ExBorder Partners, and Turmeric Capital, as well as BY Ventures, Dara Management, and KE Partners.  

The company plans to expand into six new cities in Spain and launch operations in Saudi Arabia in 2025. 

Founded in 2020 by Jad Antoun and Khalid Ashmawy, Huspy facilitates over $7 billion in annual real estate transactions across its markets.  

It supports real estate agents and mortgage brokers with a suite of digital tools, offering high commissions and automation in property transactions. 

The round represents a reaffirmation of confidence by previous investors Balderton Capital and Peak XV. 

XPANCEO raises $250m to achieve unicorn status 

UAE-based deep tech company XPANCEO has raised $250 million in series A funding at a valuation of $1.35 billion, according to a press release.  

The round was led by Opportunity Venture, which also led the company’s $40 million seed round.  

XPANCEO is developing a multifunctional smart contact lens that integrates augmented reality, health monitoring, night vision, and optical zoom into a lens thinner than a human hair. 




XPANCEO founders Valentyn Volkov and Roman Axelrod. (Supplied)

The funding will accelerate commercialization efforts, global expansion of R&D and product teams, and regulatory and pilot testing.  

The company, founded by physicist Valentyn Volkov and Roman Axelrod, is aiming to replace multiple personal devices with a single wearable form factor. 

BlueFive Capital closes founding round at $120m valuation 

UAE-based investment firm BlueFive Capital has completed its Founding Shareholders Circle round, achieving a valuation of $120 million.  

The round attracted 25 founding shareholders, including members of prominent GCC royal families, global institutional investors, and financial leaders from North America, Europe, and Asia, according to a statement.

Founded in late 2024 by former Investcorp co-CEO Hazem Ben-Gacem, the firm has already amassed $650 million in assets under management.  

BlueFive Capital aims to connect institutional capital with high-growth, underrepresented markets, with a global presence across London, Abu Dhabi, and Riyadh, as well as Singapore and Beijing. 

Icogz raises $1.4m pre-seed to enhance AI-driven BI platform 

UAE-based business intelligence startup icogz has raised $1.4 million in pre-seed funding from angel investors in the UAE and India.  

Founded in 2018 by Amit Tripathi and Vrutika Dawda, the platform uses proprietary algorithms to mine intelligence from corporate data and deliver actionable insights. 

The company plans to use the capital to further develop its AI engine, Aryabot, and scale go-to-market efforts across MENA and Southeast Asia.  

BioSapien extends pre-series A to over $8m 

Health tech startup BioSapien, based in the UAE and the US, has extended its pre-series A round to over $8 million.  

The latest funding was led by Globivest, joining existing backers Global Ventures, Golden Gate Ventures, and Dara Holdings. 

Founded in 2018 by Khatija Ali, BioSapien’s flagship product, MediChip, is a 3D-printed, slow-release drug delivery platform that can be affixed to tissue to minimize systemic side effects.  

The new capital will support R&D, product development, and regulatory expansion. 

Nawy acquires majority stake in SmartCrowd to expand GCC presence 

Egypt-based real estate tech startup Nawy has acquired a majority stake in Dubai’s SmartCrowd, a regulated fractional property investment platform. 

The acquisition follows Nawy’s recent $52 million series A round and signals the company’s entry into the GCC market. 

SmartCrowd, regulated by the Dubai Financial Services Authority, claims to have facilitated over $110 million in transactions and distributed more than $40 million in investor returns.  

The acquisition expands Nawy’s service offerings to include fractional ownership and positions the company as a full-stack proptech platform for the MENA region. 

Startup funding in MENA falls 82% in June amid investor caution 

Startup funding across the MENA region fell sharply in June, dropping 82 percent month on month to $52 million across 37 deals.  

The figure also marks a 55 percent decline compared to June 2024. Notably, 40 percent of the capital came through debt instruments, reflecting cautious investor sentiment amid global macroeconomic uncertainty, according to Wamda’s monthly report. 

The UAE reclaimed its position as the region’s top-funded market, with 13 startups raising $37 million — over 70 percent of total capital.  

Egypt, which led in May, dropped to second with $6.2 million raised across six deals.  

Tunisia followed, buoyed by a single $3.5 million seed round for water tech startup Kumulus. Saudi Arabia saw a dip, raising only $3 million across six deals. 

Fintech remained the leading sector, accounting for 74 percent of total capital across 10 deals.  

Clean tech followed due to the Kumulus deal, while Web3 attracted $2 million across two rounds. Seed stage startups led early-stage activity, raising $10.6 million, while pre-seed rounds totaled $5 million. Only one series A deal was recorded, worth $100,000. 

Startups with B2B models secured 78 percent of funding, while B2B2C and B2C startups lagged. 

Mixed-gender founding teams captured 45 percent of capital but accounted for only four deals. Women-led startups raised just $223,200.
 

Topics: Arab startups TruKKer Ruya Partners Tarmeez Capital

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Mapping Saudi soils to grow better crops

Updated 19 December 2025
Haifa Alshammari
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Mapping Saudi soils to grow better crops

  • Palm trees, root crops, and coastal plants reveal the land’s story
Updated 19 December 2025
Haifa Alshammari

RIYADH: Saudi Arabia’s land tells stories written beneath the feet. From fertile plains and rugged highlands to vast deserts, the Kingdom’s diverse landscapes shape what can grow, where it grows, and how agriculture can thrive.

Alongside geography and climate, soil conditions play a decisive role in agricultural success. Understanding soil types across the Kingdom helps determine which crops can flourish and what interventions may be needed to sustain them.

In an interview with Arab News, Turki Almutairi, a senior environmental specialist at the National Afforestation Center under the National Center for Vegetation Cover Development and Combating Desertification, outlined the main soil types found across Saudi Arabia.

High amount of salt makes the soil unfit for the production of most crops, even if the soil is fertile. (Supplied)

“The dominant soil in the Kingdom are sandy desert soils, alongside calcareous soils in the central region. Rocky and stony soils are present along mountainous and hilly landscapes,” he said.

“Alluvial soils are common in wadies (valleys), while saline and sodic soils are located in depressions (Sabkhas) and along coastlines. Pockets of clayed soils can be also found around few sites along the Kingdom.”

The Kingdom’s vast territory gives rise to unique soil characteristics in each region, enabling different crops to grow depending on local conditions.

“Soil is the growing medium for plants. The role of soil includes structural stabilization, providing nutrients and a communication medium for plants,” Basil Nasir, soil lead at engineering consultancy William Sale Partnership, told Arab News.

Basil Nasir, soil lead at the engineering consultant company, William Sale Partnership (WSP). (Supplied)

According to Nasir, assessing soil use is essential before determining whether it is fertile or infertile, as different soils support different plant types.

“The soil used for trees differs from the soil used for ornamental plants and from the soil used for aquatic plants. It varies according to the specific needs of each plant, and based on this, we determine what the soil requires and assess its fertility,” he said.

Nasir explained that soil characteristics are shaped by both physical and chemical components. In addition to water and air, mineral particles such as sand, silt and clay are key indicators of soil health. Organic matter, derived from plant and animal remains, forms the fourth major component.

The balance between these elements determines soil behavior. One important physical trait is water-holding capacity, which influences what types of plants a soil can support.

 

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“If the soil is like dunes, adding water will cause it to run off, but if the soil is clay, its ability to retain water will be very high. If you add water and return the next day, you will find that the water is still there,” said Nasir.

Chemical properties, such as whether soil is alkaline or acidic, are equally important. Understanding both physical and chemical traits allows for proper assessment and treatment when needed.

“What determines whether a plant is suitable for a particular environment is primarily the plant's nature. For example, some plants have fibrous roots and therefore do not require well-draining soil,” Nasir added.

“A palm tree, for example, does not care whether it was planted in one soil or the other because its roots are fibrous. Therefore, palm trees are strong plants and are suitable to grow in both dry and wetlands, while preferring sandy areas.”

Soil Salinity can be treated through Soil leaching which means washing the soil with certain amount of water to reduce the salt in it. (Supplied)

Crops such as potatoes, onions, carrots and beetroots — where the edible part grows underground — typically thrive in sandy soils. As a result, plantations of these crops are commonly found in northern regions such as Hail and in Wadi Ad-Dawasir.

In the eastern region, including Al-Ahsa, wetlands are more common due to climatic conditions. Growing plants in such environments often requires human intervention.

“Plants that are coastal or could be found in lagoons or lakes must have some sort of soil around them, like lotus flowers and mangrove trees.”

“An important parameter to keep in mind is that there is no air in its soil, and they are adapted to this condition. However, the lack of air, along with the presence of organic matter, will create a situation where anaerobic bacteria react with the soil, potentially causing diseases we can easily avoid,” said Nasir.

He emphasized that removing organic matter from such soils is essential to ensure plant survival in aquatic environments.

Mountainous and rocky regions in Saudi Arabia are generally volcanic, resulting in low water-holding capacity and challenging growing conditions. However, volcanic ash contributes to high fertility, allowing certain crops to flourish.

As a result, western regions support tree crops such as coffee, mangoes, some banana varieties and pomegranates.

There are various types of soils such as clay, sandy, silty and loamy. Each type provides excellent conditions for specific plants. (Supplied)

As development accelerates across the Kingdom, soil improvement efforts are expanding under the National Greening Program.

“Soil is considered fundamental for the National Greening Program’s objectives. Understanding the soil variability along the Kingdom is a precondition for fostering sustainable soil management,” Almutairi told Arab News.

Adding, “In this line, the NGP is working towards the establishment of the Saudi Soil Information System (TURBA-KSA), which consists of mapping soils and its functional properties in the Kingdom using state-of-the-art technology.”

He also noted the creation of the “Land Rehabilitation Watch” to report, verify and monitor land rehabilitation nationwide.

“This milestone allows the Kingdom to understand how soil and land health are progressing against national and international targets of land degradation neutrality. Documenting good soil and land management practices is also important, so that those successful practices could be scaled up along the Kingdom, which is a priority task for NGP,” he said.

Raising public awareness is another key pillar of the program.

“Assessing different emerging technologies and soil amendments is a daily activity of NGP, as it then provides technical support to partners on the selection and application of these technologies.”

DID YOU KNOW?

• Saudi Arabia cultivates around 1 million hectares, mainly in Riyadh, Qassim, Hail, and Jouf.

• Farming follows the seasons: winter brings onions, garlic, and carrots, while summer yields watermelon, tomatoes, and cucumbers.

• The Kingdom is a top date producer, with over 31 million palm trees generating nearly 1.54 million tons, especially in Riyadh and Qassim.

Almutairi stressed that soil is often overlooked because it lies unseen beneath the surface, despite its critical role.

Yet soil produces 95 percent of food, stores water, holds more carbon than vegetation and the atmosphere, suppresses contaminants, regulates water, carbon and nutrient cycles, and hosts microorganisms linked to the human microbiome.

He emphasized the need to engage the general public, particularly urban communities disconnected from nature. Education helps people understand where food comes from and how contact with soil — such as walking barefoot — can support well-being. Healthy soils also contribute to cleaner water and air, he added.

Almutairi also called for stronger advocacy among decision-makers, noting that investment in healthy soils supports climate action, food security and sustainable development.

He concluded that key strategies include officially observing UN World Soil Day on Dec. 5, integrating soil education into curricula, launching annual social media campaigns, using art to raise awareness, and organizing public events that connect soils to everyday life.
 

 

Topics: Green And Blue Editor’s Choice

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