Startups and investors in the Middle East and North Africa have announced a series of new deals this week, highlighting significant capital flows and innovation in sectors such as artificial intelligence, fintech, property tech, and agricultural tech. Saudi Arabia’s Sukna Capital, in collaboration with Partners for Growth, has launched a $50 million lending initiative targeting high-growth tech companies and SMEs in the region. This initiative, the Kingdom’s first open-ended direct lending fund, offers Shariah-compliant financing options to help founders maintain equity while scaling their businesses, aligning with Vision 2030.
In other developments, South Korea’s Rebellions has secured $250 million in a series C funding round, raising its valuation to $1.4 billion. This follows an earlier investment by Saudi Arabia’s Wa’ed Ventures. Rebellions has also established a subsidiary in Saudi Arabia, deploying AI chips in the Kingdom, Japan, and the US.
Saudi-based Sadq has raised $1 million in a pre-series A extension to enhance its digital signature platform, while Tadawulcom Real Estate secured $400,000 to expand its proptech services. DOO, a Saudi AI-powered customer support platform, raised $1.7 million to enhance its offerings and expand in the GCC.
In the US, Epic Padel closed a $10 million seed round to expand its club operations. UAE-based BECO Capital raised $370 million across new funds to support early and growth-stage companies. Egypt’s Sabika secured funding to expand its Shariah-compliant gold investment platform into Saudi Arabia.
Careem acquired a minority stake in Swapp, a UAE-based car rental platform, while UAE’s Aydi raised $7.5 million for its AI-powered agri tech platform. Iliad Partners announced the second closing of its $50 million venture fund, and Tokinvest raised $3.2 million to expand its asset tokenization platform.
Climaty AI, based in the UAE, secured $2 million to scale its AI-powered marketing tech, and UPFRONT raised $10 million to address the SMB cash flow gap in the region. Lastly, Saudi Arabia’s Monsha’at will host the Biban Forum 2025 in Riyadh, attracting global attention to the SME and startup ecosystem.
