RIYADH: Startups and investors across the Middle East and North Africa announced a wave of new deals this week, spanning artificial intelligence, fintech, property tech, agricultural tech and venture funding, underscoring growing capital flows and innovation momentum.
Saudi Arabia-based Sukna Capital has partnered with Partners for Growth to launch a $50 million specialty lending initiative for high-growth tech companies and SMEs across Saudi Arabia and the wider MENA region.
The Sukna SFDF, the Kingdom’s first open-ended direct lending fund, will offer Shariah-compliant non-dilutive financing including working capital lines, term loans and contract financing.
The fund aims to help founders preserve equity while scaling, supporting Vision 2030 by expanding institutional-quality credit access.
Wa’ed Ventures portfolio company Rebellions secures $250m funding
South Korea’s Rebellions has raised $250 million in a series C round at a $1.4 billion valuation.
The round was backed by Arm, Samsung Ventures, Pegatron VC, and Korea Development Bank, as well as Korelya Capital and Lion X Ventures.
Founded in 2024 by Ali Mohsen and Mohamed Al-Khabbaz, DOO provides AI-powered customer support tailored to regional languages. (Supplied)
The deal builds on earlier investment from Saudi Arabia’s Wa’ed Ventures, which led a $15 million series B extension in July 2024, marking its first investment in MENA.
Rebellions has since established a Saudi subsidiary in Riyadh and deployed its first-generation AI chips in the Kingdom, alongside Japan and the US.
Sadq raises $1m pre-series A extension
Saudi Arabia-based Sadq has closed a $1 million pre-series A extension led by Impact46. Founded in 2022 by Abdullah Allahuo and Salem Al-Badawi, Sadq offers a digital signature and document authentication platform designed to comply with Saudi legal standards.
The funding will support product development, security enhancements and market expansion.
Last April, the company raised $1.5 million in a pre-series A round led by X by Unifonic Fund.
Tadawulcom Real Estate secures $400k seed round
Saudi Arabia-based Tadawulcom Real Estate has raised $400,000 in a seed round led by an angel investor.
The proptech Software-as-a-Service platform enables brokers, companies and individual users to build custom websites, manage listings, contracts and payments, and integrate with government and commercial systems.
The new capital will support the rollout of analytics tools, interactive mapping features and expansion in Saudi Arabia and the broader regional proptech market.
DOO raises $1.7m to expand AI-powered customer support platform
Saudi Arabia-headquartered DOO has raised $1.7 million in a round led by Merak Capital, with participation from Plus VC and other strategic investors.
Founded in 2024 by Ali Mohsen and Mohamed Al-Khabbaz, DOO provides AI-powered customer support tailored to regional languages across WhatsApp, Instagram, websites and apps.
The platform already serves over 50 enterprises across telecom, airlines, banking and e-commerce.
The new funds will accelerate product development, enhance integrations with customer relationship management systems and support expansion across Saudi Arabia and the GCC.
Epic Padel raises $10m seed round to expand US operations
US-based Epic Padel has closed an oversubscribed $10 million seed round led by NowaisWorld and Stryde Ventures, with participation from 305 Ventures, High Water Venture Partners, and Lane Holdings, as well as Off Court Ventures, Silverback Capital and several professional athletes.
Founded in 2023 by Maryam Al-Muslehi and Hala Sarkis, Epic Padel is building a vertically integrated platform combining club operations, investments and tech infrastructure.
The capital will fund the launch of four to six new clubs across the US, including Virginia and Utah.
BECO Capital closes $370m across new early and growth funds
UAE-based BECO Capital has secured $370 million across two new funds, comprising the $120 million BECO Fund IV for early-stage investments and a $250 million growth fund for scale-ups from series B to pre-IPO.
Founded in 2012, BECO has backed companies including Careem, Property Finder and Kitopi.
The new vehicles expand BECO’s assets under management to more than $820 million, positioning the firm to bridge the region’s growth-stage capital gap and provide long-term support from pre-seed through IPO.
Sabika raises six-figure funding to expand Shariah-compliant gold platform
Egypt-based Sabika, a digital investment platform for gold and silver, has raised a six-figure US dollar investment led by M-Empire Angels.
Founded in 2022 by Ibrahim Anwar and Mohammed Darwish, the platform offers Shariah-compliant, asset-backed investment options designed to provide secure and transparent wealth protection.
The new funding will support product enhancements, AI-driven features and Sabika’s expansion into Saudi Arabia in 2025.
Founded in 2022 by Ibrahim Anwar and Mohammed Darwish, Sabika offers Shariah-compliant, asset-backed investment options. (Supplied)
Careem takes minority stake in car rental platform Swapp
Careem has acquired a minority stake in UAE-based Swapp, a digital car rental and subscription platform.
Swapp has been integrated into the Careem Everything App since 2022 as Careem Car Rental, offering users online registration and car delivery within 24 hours.
The investment will support the rollout of new features including instant KYC, one-hour delivery, real-time tracking and lease-to-own options. Swapp plans to expand its regional footprint and launch multi-month rental packages.
Aydi raises $7.5m seed round for AI-powered agri tech platform
UAE-based agri tech startup Aydi has raised $7.5 million in a seed round from COTU Ventures, Daltex and Nuwa Capital, with participation from Magrabi Agriculture and Foundation Ventures.
Founded in 2022 by Hassan Fayed, Aydi provides a field operating system combining satellite monitoring, predictive analytics and conversational AI.
Its AI-powered agronomy assistant, Orth, helps farmers detect crop issues early and improve yields by more than 20 percent. The funds will support the global rollout of Orth.
Iliad Partners secures second closing of $50m venture fund
UAE-based venture capital firm Iliad Partners has announced the second closing of its $50 million fund.
The round saw Eurobank, National Bank of Greece and Piraeus Bank join as limited partners, marking their first VC commitments in MENA.
The new capital nearly doubles Iliad’s assets under management, with plans to accelerate early-stage investments in Saudi Arabia and the UAE.
Tokinvest raises $3.2m pre-seed to expand tokenization platform
UAE-based Tokinvest, a regulated marketplace for real-world asset tokenization, has raised $3.2 million in a pre-seed round backed by Triliv Holdings, Exponential Science and other investors.
Founded in 2024 by Scott Thiel and Matthew Blom, Tokinvest offers tokens representing rights to assets, issued under Dubai’s Virtual Assets Regulatory Authority framework.
The company holds the first multi-asset issuance license from VARA. The capital will fund growth, regulatory expansion and new asset-class onboarding.
Climaty AI raises $2m to scale AI-powered marketing tech platform
India-founded and UAE-based Climaty AI has raised $2 million in early-stage funding led by Turbostart, with participation from angel investors.
Founded in 2024 by Neel Pandya, the company is developing an agentic AI-powered marketing ecosystem that automates campaign planning, content creation and measurement while reducing the carbon footprint of digital advertising.
The fresh capital will support expansion across APAC, EMEA, the UK and North America.
UPFRONT secures $10m pre-seed to address SMB cash flow gap
UAE-based fintech UPFRONT has raised $10 million in pre-seed funding, a mix of equity and debt, co-led by Palm Ventures and SABAH.fund.
Founded in May by Anas Qudah, Abdullah Al-Ghadouni and Mahmoud Abdel-Fattah, the startup is building a financial operating system for SMBs integrating accounting software, real-time analytics and payment automation.
With operations in the UAE and expansion plans for Saudi Arabia, the funding will support product development and scaling to address the region’s $250 billion SMB funding gap.
Monsha’at to host Biban Forum 2025 in Riyadh
Saudi Arabia’s Small and Medium Enterprises General Authority will host Biban Forum 2025 from Nov. 5 to 8 at Riyadh Front Exhibition and Conference Center.
The event, themed “Global Destination for Opportunities,” is expected to attract more than 140,000 visitors from over 150 countries.
The four-day program will feature workshops, panel discussions, exhibitions and deal signings to support the SME and startup ecosystem.
