RIYADH: Investment momentum in the Middle East and North Africa region continued its steady trend in June, with 41 startups collectively raising $148.2 million, representing an annual rise of 190 percent.
According to Wamda data, startup investments over the month declined by 76 percent compared to May, due to the regional conflict that affected investor sentiments.
The UAE continued to lead the funding momentum in the MENA region, with 12 companies securing $93.8 million.
Egypt, benefiting from signs of economic stabilization — including a steadier Egyptian pound and record tourism earnings — climbed to second place, with eight startups raising $41.4 million.
Saudi Arabia came in third place, witnessing five deals totaling $5.7 million.
Morocco re-entered the rankings after a quiet May, driven largely by a $5 million oversubscribed seed round for property tech firm Agenz.
Oman also showed vitality through volume rather than value, as 10 startups raised $1.3 million, highlighting the impact of local accelerator programs in nurturing early activity.
On the sectoral front, Enterprise AI stole the spotlight, with just two companies pulling in a hefty $76 million combined.
Fintech held steady as the second-largest category and the most active by deal count, with 13 startups raising $43.5 million. Regulatory tech followed with $15.2 million across three rounds, while property tech attracted $7 million through three transactions.
Early-stage ventures captured the bulk of attention, as no major late-stage equity rounds were recorded.
Capital flowed primarily to seed and Series A companies, alongside debt financing. Business-to-business models remained investor favorites, drawing $96.3 million across 27 deals, compared to under $50 million for consumer-oriented startups.
Last week also witnessed some major investments and acquisitions across various sectors, underscoring steady momentum in the region amid conflicts in Iran.
Noon Academy acquires Almakhfi
Noon Academy, a Saudi-based education tech firm, has acquired Almakhfi, a digital platform specializing in preparation for the Qudurat and Tahsili examinations, in a move aimed at strengthening its AI-powered learning ecosystem and expanding its services for students across the Kingdom.
The acquisition follows Noon Academy’s recent SR153 million ($40.8 million) Series B funding round led by Wa’ed Ventures and Raed Ventures, and forms part of the company’s strategy to build a comprehensive digital education platform that combines live learning, artificial intelligence, and personalized educational experiences, according to a press statement.
Through the acquisition, Noon Academy plans to integrate Almakhfi’s specialized exam preparation content into its platform. This will enable students to access more personalized, AI-powered learning journeys while significantly expanding the availability of high-quality educational resources.
Noon Academy, founded in 2013 by Mohammed Aldhalaan and Abdulaziz Al-Saeed, is an interactive social learning platform that offers live classes, AI-powered educational tools, and a wide range of programs covering core school subjects, English language, programming, robotics, and drone technology.
Uvera closes seed round
Uvera, a deep-tech Saudi startup specializing in shelf-life extension and supply chain intelligence solutions for the fresh food industry, has successfully closed its seed funding round.
The round attracted participation from Morgan Stanley Inclusive & Sustainable Ventures, LAB7, the venture-building arm of Aramco, Core Vision, and a group of strategic angel investors.
This investment allows us to bring our technology to more partners across the value chain.
Asrar Damdam, Uvera founder and CEO
The funding will be used to scale commercial deployments and advance Uvera’s technology platform, which combines proprietary shelf-life extension technology with blockchain-backed traceability and IoT-powered analytics, according to a press statement.
In addition to its investment, LAB7 will collaborate with Uvera to strengthen the technical robustness, scalability, and data integrity of its platform, supporting the continued development of its traceability, analytics, and supply chain intelligence solutions.
“This milestone reflects our efforts to address food waste at scale — and the confidence our investors have in Uvera’s ability to help deliver measurable impact,” said Asrar Damdam, founder and CEO of Uvera.
She added: “We’re building the infrastructure for a more resilient and efficient food system, and this investment allows us to bring our technology to more partners across the value chain.”
Planno raises strategic investment
Planno, a Dubai-based Geospatial AI platform for solar developers, has secured a strategic investment from Incubayt Investments, the sustainability-focused venture firm founded by Sami Khoreibi.
According to a press statement, the newly injected funding will be used to accelerate its international expansion and strengthen its geospatial AI platform for the solar industry.
Planno, founded in 2023 by Daniel Domingues, is developing a geospatial AI platform that integrates satellite imagery with local market data to help solar developers, EPC firms, and public agencies identify high-potential commercial and industrial rooftops suitable for solar installations.
Khoreibi said that Incubayt Investments looks to back founders building globally ambitious projects from the UAE on problems that matter at scale.
He added: “The solar industry has never been short of capital or sunlight. What it has lacked is intelligence. Where to build, and who owns the roof.
“In a data-driven economy, that insight is as valuable as the projects themselves. Planno is exactly that.”
Domingues added: “We want every solar developer in every market, not just the largest ones, to have proper data to work with.
“Incubayt’s early backing gave us the foundation to build that. We’re now applying the same playbook country by country.”
Dubizzle Group invests in Takeem
Dubizzle Group, one of the leading online classifieds platforms in the Middle East region has announced a strategic partnership and investment in the UAE-based proptech Takeem.
As part of the partnership, Bayut and dubizzle will be the exclusive portal for Takeem’s Rental Guarantee solution, complementing the Group’s growing suite of rental services with a more dependable way for landlords to protect rental income and reduce uncertainty throughout the leasing process, according to a press statement.
Takeem’s Rental Guarantee protects landlords against tenant non-payment and includes emergency maintenance cover for urgent property repairs, helping create a more secure, structured and predictable rental experience for landlords, tenants, agents and property managers, while enabling monthly digital direct debit payments.
“Takeem is solving one of the most important gaps in the rental journey, and what stood out to us was not only the strength of the product, but the clarity of the founding team’s vision,” said Haider Ali Khan, CEO of Dubizzle Group UAE.
Founded by Rakesh Mavath and Pooja Vithlani, Takeem has scaled quickly to onboard over 100,000 units.
The company has seen strong commercial momentum, with client onboarding increasing by 900 percent over the past two months.
“Partnering with Dubizzle Group allows us to bring Rental Guarantee to a much wider audience through Bayut and dubizzle, embedding protection into the rental journey where it matters most. Together, we look forward to helping landlords and agents reduce risk while contributing to a more trusted and resilient property ecosystem in the UAE,” said Mavath.
