RIYADH: Startups across the Middle East and North Africa saw multiple funding rounds in the past week, as companies across a range of industries seek geographical expansion.
Earlier this month, a report released by Wamda revealed that startup investment across the MENA region accelerated sharply in July, with total funding reaching $783 million, representing a 1,411 percent rise compared to the same month in 2024.
Saudi Arabia led regional funding activity, securing $396.5 million across 16 deals in July, while the UAE followed with $359 million raised in 22 startups.
Gathern raises $72 million
Saudi Arabia’s vacation rental platform Gathern raised SR270 million ($71.94 million) in a series B funding round, led by Sanabil Investments, a wholly owned subsidiary of the Kingdom’s sovereign wealth fund.
The funding round also witnessed the participation of STV, Pinnacle Capital, Nuwa Capital, and Endeavor Catalyst.
Gathern said that the funding will help the company prepare for an initial public offering on Tadawul in the near future, without providing a specific timeline.
“The round was completed at a valuation exceeding SR1 billion, marking a significant step toward our planned listing on the Saudi Exchange (Tadawul) in the near future,” said the company in a statement.
It added that the fresh funding will also help the firm expand locally and regionally.
“We will continue to invest in developing our technology architecture, enhancing the user experience through AI technologies, expanding our network of hosts and increasing the diversity of offerings,” the statement added.
The company said it currently possesses 72,000 private hospitality units operated by local hosts across Saudi Arabia, representing nearly 15 percent of the total hotel and non-hotel supply in the Kingdom.
Fahy secures strategic investment of $1.75 million
Fahy, a game development studio in Saudi Arabia, has secured a strategic investment of $1.75 million from Impact46 and Merak Capital.
In a statement, the company said that the latest funding reflects the studio’s potential and its commitment to shaping the future of mobile gaming while contributing to Saudi Arabia’s expanding gaming ecosystem.
Founded in early 2023 by Hani Hashem, Owis Al-Saour, and Fahad Al-Shibl, Fahy rapidly gained momentum upon their enrollment in Neom’s exclusive LevelUp accelerator, where they transformed from an indie team into a scalable studio.
The company further expanded its reach through a publishing partnership with Kwalee, gaining access to world-class expertise in user acquisition, monetization, and global game publishing.
“This investment fuels our mission to push the boundaries of mobile gaming, expand our production capabilities, and attract top talent to the Kingdom,” said Hashem.
He added: “While our journey is still in its early stages, the backing from Impact46 and Merak Capital is yet another testament to Saudi’s growing ecosystem that is empowering us to compete on the world stage.”
Saudi Arabia is home to over 24 million gamers, representing 67 percent of the Kingdom’s population, with local players outspending their global counterparts.
“With the gaming sector projected to multiply in size globally by 2030, investments in game development and publishing are critical for establishing the Kingdom as a dominant force in the industry,” said Fahy in a statement.
Starvania Studio secures $1.1 million funding
Saudi-based Starvania Studio has secured an investment of $1.1 million from Merak Capital and Impact46.
The company said in a statement that funding will contribute to accelerating Starvania Studios’ growth trajectory by developing high-quality, immersive console and PC games.
The financial assistance will also be used to enhance the studio’s operational infrastructure and production pipelines.
“With the backing of Merak Capital and Impact46, we now have the resources to expand our development pipeline, grow our team, and push creative boundaries,” said Meaad Aflah, CEO and co-founder of Starvania Studios.
Basmah Al-Sinaidi, managing partner at Impact46, said: “Starvania is building original worlds with the kind of focus and polish that makes a studio stand out on PC and console. It’s a strong signal of how far Saudi game development has come — and the ambition it can carry globally.”
Professional.me aims to expand AI-powered hiring processes across Europe, Middle East and Africa. (Supplied)
Professional.me secures $3.1 million seed round
Professional.me, an Abu Dhabi-based recruitment platform, powered by artificial intelligence, raised $3.1 million in a seed funding round, backed by Raha Beach Ventures, bringing its total funding to $4.6 million.
The company previously raised $1.5 million in a pre-seed round, also led by Raha Beach Ventures.
Through the funding, Professional.me aims to expand AI-powered hiring processes across Europe, Middle East and Africa.
The funding is also expected to boost engineering, strengthen research partnerships, and scale the platform’s global reach amid growing demand for inclusive AI hiring.
“We’re not digitising resumes; we’re replacing them. Each company and professional gets their own micro-LLM that acts as a context-aware advocate, surfacing the best-fit matches automatically and meaningfully,” said Ryan Adams, founder and CEO of Professional.me.
The company claims to have processed over 300,000 professional profiles, serving clients across Europe, the UK, and the MENA region, since its launch in October 2024.
Hypeo Ai secures investment from Renew Capital
Morocco-based influencer marketing firm Hypeo Ai has secured an undisclosed investment from Renew Capital.
Hypeo Ai provides an AI-powered influencer marketing platform that connects brands, agencies, and creators across the MENA region and beyond. (Supplied)
The funding is expected to help the firm strengthen its smart infrastructure for the Middle East and Africa.
The financial assistance will also allow the company to expand its platform features, onboard more creators and brands, and develop a B2C AI-powered coaching companion for wellness and lifestyle users.
Founded by Meriam Bessa, Oussama Sekkat, and Salah Eddine Mimouni, Hypeo Ai provides an AI-powered influencer marketing platform that connects brands, agencies, and creators across the MENA region and beyond, according to the company’s website.
“Our region has no shortage of talent. What’s been missing is smart infrastructure. We’re building tools that allow brands and creators to meet faster, match better, and work smarter with the power of AI,” said Bessa.
