RIYADH: Startups operating in the Middle East and North Africa region showed remarkable resilience last week, securing multiple funding rounds across key sectors even as geopolitical tensions from the Iran conflict continued to rattle markets.
This momentum builds on a record-breaking 2025, when MENA startups raised $7.5 billion — a 225 percent surge from the previous year, according to data analyzed by Wamda.
Investment activity in the MENA startup ecosystem, however, slowed in March, with only 17 startups raising a total of $48.3 million, as investors reassessed the risk posed by the Iran war.
This represented an 85 percent decline from February and a 62 percent drop compared to the same month in 2025, making it one of the weakest months the region has seen in recent years.
Funding last week flowed across diverse high-growth sectors, including fintech, artificial intelligence, and foodtech, signalling rising investor confidence in MENA’s startup ecosystem.
Udora secures $10m for Saudi entry
Udora, a Dubai-based gifting platform, has raised $10 million in a private funding round, as the company plans to scale up its operations in the wider region and expand into Saudi Arabia later this year.
The company said in a statement that it will deploy the fresh capital to expand its product catalogue, accelerate localization efforts, and strengthen its technology stack — including new AI-powered personalization tools aimed at elevating user experience and boosting marketplace efficiency.
According to the statement, Udora is preparing to launch in Saudi Arabia in the third quarter of 2026, positioning the market as a key growth driver, thanks to the Kingdom’s widespread e-commerce adoption and a young, digitally native consumer base.
Founded in 2014 by Slava Bogdan, the firm connects customers with local florists, confectioners, and artisan sellers across more than 50 markets and 1,500 cities.
Signit raises $15m
Signit, a Saudi-based AI-powered technology firm, raised $15 million in a Series A funding round led by Raed Ventures, with participation from STV, Seedra Ventures, Takamol Ventures, and Suhail Ventures.
Founded in 2021, Signit is a Saudi-based digital agreement platform that enables organizations to create, sign, and manage contracts end to end — from secure electronic signatures to comprehensive AI-powered contract lifecycle management.
The firm currently serves more than 700 customers across government, financial services, healthcare, and enterprise sectors in the Kingdom.
“This funding lets us build the full picture: a single platform where a contract is created, negotiated, approved, signed, and managed — all compliant, all built for how business actually works here,” said Mohamed El Abbouri, co-founder and CEO of Signit.
The company further said that the new capital will also be deployed to expand the firm’s contract management platform with AI-powered drafting, negotiation, and compliance capabilities, and build an intelligent contract assistant that gives employees one place to find and act on contract information.
Comfi secures $95m
UAE-based fintech firm Comfi has raised $95 million in a pre-Series A funding round, led by Iliad Partners and joined by Yango Ventures and Raw Ventures, both making their first investment in the region.
In a press statement, the company revealed that the funding round includes a credit facility from Partners for Growth and a mezzanine facility structured by Shorooq, with participation from a notable family office.
Comfi was founded in 2023, by Sanjar Samiev, Alisher Akbarov, Amal Abdullaev, and Denis Gavrilin, and the company specializes in business-to-business buy now, pay later solutions for small and medium-sized enterprises.
“This pre-Series A round gives us the resources to scale our products, strengthen our regional partnerships, and expand access to fast, reliable working capital across MENA,” said Samiev.
Comfi has processed more than 15,000 invoices, partnered with over 4,000 finance leaders, and now serves more than 1,000 clients — underscoring strong regional demand for fast, flexible capital solutions for SMEs, the press statement added.
Comfi was founded in 2023, by Sanjar Samiev, Alisher Akbarov, Amal Abdullaev, and Denis Gavrilin. (Supplied)
Lola closes $3m seed round
Lola, a Bahrain-based direct-to-customer food tech platform, has raised $3 million in a seed funding round led by Vision Ventures with participation from Aljazira Capital, Seedra Ventures, Plus VC and other investors.
According to a press statement, the newly deployed funding will be used to support the company’s development of a central production facility in Dammam, designed to bring consistency, control, and scalability to the business.
“This funding allows us to scale that vision, strengthen our infrastructure, and maintain full control over the customer experience. With strong demand and a clear roadmap, we’re closing the gap between imagination and reality, making perfection the standard for every celebration,” said Othman Janahi, founder of Lola.
Established in 2023, Lola enables customers to design and order fully customised cakes through a seamless digital experience.
BRKZ secures investment from Saudi Industrial Investment Co.
BRKZ, a Saudi-based company specializing in industrial supply chain enablement, has secured a strategic direct investment from Saudi Industrial Investment Co., the investment arm of the Saudi Industrial Development Fund.
According to a press statement, the newly injected funding will be used to accelerate factory productivity, improve access to liquidity, and increase capacity utilization rates.
“This investment reflects SIC’s confidence in ambitious Saudi companies; we view this as a strategic partnership and a great responsibility to continue building a tangible impact in line with Saudi Vision 2030,” said Ibrahim Manna, CEO of BRKZ.
Fahad Al-Naeem, CEO of SIC said: “We are investing in BRKZ because it addresses a real-world challenge in the industrial supply chain. By facilitating supplier access, providing payment flexibility, and utilising untapped production capacity, BRKZ is building a commercial infrastructure for the industrial sector.”
