RIYADH: Startups operating in the Middle East and North Africa witnessed multiple funding rounds across various sectors last week, even as the conflict in Iran continued to rattle the market.
This momentum builds on the record $7.5 billion funding received by startups in 2025, representing a 225 percent increase compared to the previous year, according to Wamda data.
In February, startups across the MENA region raised a combined $326.6 million across 62 deals, reflecting rising investor appetite despite global economic uncertainties.
Saudi edtech GAGA secures $2.5 million
GAGA, a Saudi-based education tech startup, raised $2.5 million in a pre-Series A funding round led by Phoenix Venture Partners, with participation from family offices and individual investors, bringing its total funding to $4.2 million.
The company will use the new funding to expand its teacher network, enhance its technology stack, and scale its Arabic-language educational content across Saudi Arabia.
GAGA, founded by Abdullah Al-Kharsani and Eyad Al-Shabaan, offers live online classes blending academics and skills development through interactive teaching. (Supplied)
The latest investment is also expected to strengthen the firm’s AI capabilities to deliver more adaptive and data-driven learning experiences.
GAGA, founded by Abdullah Al-Kharsani and Eyad Al-Shabaan, offers live online classes for students aged four to 18 years old, with over 1,000 programs across 200 subjects, blending academics and skills development through interactive teaching.
The company is also building AI-driven tools to personalize learning, track progress, and pinpoint knowledge gaps, allowing for customized educational paths tailored to each student’s needs.
MovitOn raises $2m
MovitOn, a UAE-based Web3 decentralized logistics platform provider, has announced the closing of a $2 million community pre-sale round.
In a statement, the company said that the new funding will be used to accelerate the development of core platform features, including proprietary MovitBox smart Internet of Things terminals, AI-driven compliance systems, and the scheduled mainnet launch later this year.
MovitOn founder Erik Beken Tleubeck said: “This $2 million pre-sale validates our vision, where every traveler becomes a trusted courier, and every user can ship globally without barriers. Community support confirms the demand for a decentralized, AI-powered logistics solution that addresses the inefficiencies and restrictions inherent in traditional shipping services.”
This $2 million pre-sale validates our vision, where every traveler becomes a trusted courier, and every user can ship globally without barriers.
Erik Beken Tleubeck, MovitOn founder
MovitOn’s platform utilizes blockchain smart contracts and AI to establish a zero-trust ecosystem that connects travelers and users directly to secure, cost-effective delivery services.
The platform delivers up to 75 percent cost reduction compared to traditional carriers, including DHL, UPS, and FedEx, while enabling same-day delivery in most cases, MovitOn claimed in the press statement.
Vadim Andryan, co-founder and chief architect at MovitOn, said: “MovitOn resolves all primary challenges simultaneously. We are constructing an entire Web3 ecosystem that bridges Web2 users into the decentralized economy, while delivering tangible value through our real-world asset transformation model.”
Ninja explores Riyadh listing
Saudi Arabia-based quick-commerce startup Ninja is exploring the possibilities of a potential initial public offering, as it looks to develop growth opportunities in the Kingdom’s technology sector.
The company said that it recently engaged with investors, including during a London banking conference, to assess appetite for a potential listing, according to a press release.
Ninja is currently finalizing IPO plans, choosing advisers, and eyeing a potential listing later this year.
Founded in 2022, Ninja is an online supermarket platform offering groceries, medicines, and essentials across Saudi Arabia, with regional expansion underway.
The company generated approximately $1 billion in revenue in 2025 and is targeting $1.6 billion in 2026. Ninja, valued at $1.5 billion, had secured $250 million in funding led by Riyad Capital in 2025.
Phoenix Venture Partners expands investor base
UAE-based venture capital firm Phoenix Venture Partners has announced the successful third closing of its inaugural fund, underscoring robust investor confidence in the MENA region’s innovation ecosystem.
The fund targets early-stage, innovation-driven startups in sectors like fintech, health tech, education tech, and energy, with a focus on MENA and global opportunities.
PVP’s fund is open to additional capital commitments before its October 2026 final close, boosting its support for emerging GCC startups and the region’s growing venture ecosystem.
UAE-based venture capital firm Phoenix Venture Partners has announced the successful third closing of its inaugural fund. (Supplied)
“Despite ongoing regional sensitivities that continue to influence global markets, our collective confidence reaffirms the resilience of the GCC’s venture capital landscape and the region’s broader financial ecosystem,” said Steve Khayat, founder and CEO of PVP.
He added: “Now more than ever, we reaffirm our commitment, with a steady hand and a firm vision, to our investors, to the founders we invest in, and to the wider ecosystem in the Abu Dhabi Global Market, as well as across the GCC and MENA’s venture community.”
Blossom Accelerator launches DominAite
Saudi Arabia-based Blossom Accelerator is launching a national-level AI scale and investment platform designed to support high-potential startups in the Kingdom.
In a press statement, the company said that program is aligned with Saudi Arabia’s Council of Ministers’ declaration that 2026 is the year of AI.
The three-month, highly curated accelerator is designed for early stage AI-native startups offering venture capital through Blossom Capital, advanced technical enablement, market-entry support, enterprise and government pilots, and connectivity to MENA’s investor ecosystem.
“DominAite is designed to be more than just an accelerator; it is a national-scale platform,” said Emon Shakoor, CEO of Blossom Accelerator.
She added: “By combining capital, world-class technical collaborators, and deep ecosystem access, we are creating a launchpad for AI companies that can compete globally while building from and expanding to Saudi Arabia.”
