uae startup funding

uae startup funding

(File photo) Platform offers SMEs crowd funding and peer to peer finance. The Magnitt report ‘2021 Emerging Venture Markets Report’, released on Tuesday ranked Egypt second for both total funding with $179 million (up +31 per cent ) and number of deals (down -10 per cent) and fast-growing Saudi at third place for total funding with $152 million (up +55 per cent), with the number of deals seeing the highest increase in Mena, up by 35 per cent, which is made more remarkable when compared with the slow-down in the rest of Mena. Virtuzone partners with Zbooni to provide SMEs with transaction solutions powered by WhatsApp . Examples of crowdfunding platforms in the UAE are Beehive, Humming Crowd Realty, Eureeca. BRINGING CAPITAL AND EXPERTISE TO ENTREPRENEURS. Offices In: UAE. All rights reserved. Businesses will need to adopt technology strategically and in a way that differentiates their offerings. Magnitt’s latest report analyses and compares investments in technology startupscheadquartered in Mena, Pakistan, and Turkey, as the Dubai-based data platform expands its coverage beyond Mena and into emerging venture markets (EVMs). The three main innovation hubs — the UAE, Egypt and Saudi Arabia — accounted for 68% of total deals disclosed in 2020. Add to this the inherent advantages e-commerce offers businesses in terms of market penetration, and it’s clear that growth in the sector will only accelerate.”. This marks the first investment by an Israeli venture capital fund in a UAE-based tech startup since the normalization of relations between Israel and the UAE . The three main innovation hubs — the UAE, Egypt and Saudi Arabia — accounted for 68 per cent of total deals disclosed in 2020 and once again, the UAE ranked first and accounted for the lion’s share of total funding and the highest number of deals in Mena, representing 56 per cent of all capital deployed across Mena (26 per cent), with 129 deals and $579 million in funding in 2020. Meanwhile, H.A.D Consultants and EMPWR are jointly organising ‘Empowering Minds’ a wellbeing and leadership event series. Visit a place frequently? Access the most comprehensive database of companies and officers in the Middle East and North Africa, covering all major sectors and industries, from Refinitiv. So new businesses must find innovative ways to sustain themselves. Email us at editorial.zawya@refinitiv.com, or send us your company press releases to pressrelease.zawya@refinitiv.com. Roberto Croci, managing director of Microsoft for Startups MEA, said: “The UAE has all the ingredients to become a vibrant hub for start-ups, underpinned by effective public-private partnerships and fast regulatory decision-making. September 23, 2020 September 23, 2020 … This will mean implementing data driven machine learning operations, enhanced omni-channel engagement, and personalised services that leverage customer data effectively,” added Azmi. Roberto Croci, managing director of Microsoft for Startups MEA, said: “The UAE has all the ingredients to become a vibrant hub for start-ups, underpinned by effective public-private partnerships and fast regulatory decision-making. Tap Payments is hoping for a similar trajectory in MENA. All new KT app is available for download: Get the latest news around the world in your inbox, so you dont miss out on the action. Last year saw a record number of 366 startup deals across the MENA region, … Cofounder.ae – Startup and Founder Stories from UAE – Technology Startups, Investors, Incubators, Accelerators, Funding and More! dubai, angel, investors, investing, venture, seed, capital, startup, start-up, technology, tech, entrepreneur, entrepreneurs, founder, equity, convertible, Home. Private equity (PE) and venture capital (VC), as sources of funding, are slowly picking up in the UAE. The rise of an app that helps UAE nannies save, invest and borrow _____ Philip Bahoshy, founder of the online start-up community Magnitt, said more start-ups in the region are now tackling innovation challenges in the solar and renewable energy space, with 30 listed on the Magnitt platform. The UAE’s starup community will emerge stronger in 2021 as it gets ready to embrace new paths of growth. 9. 80% of the population of the UAE consists of foreigners who are in the country on 3-year visas. The following list contains the top 60 startups in the Middle East. H.A.D Consultants is a team of three women — Hala Bou-Alwan, Amrika Bhogaita and Dalia El Kilany — who believe that empowering individuals has a snowball effect, leading to stronger, more resilient teams, businesses, communities and societies as a whole. Get the best prices at the sites you frequent the most. WHAT IS DAI? Much of this has been driven by SMEs and Startups, which are often at the forefront of fresh ideas – in many ways they can be considered the lifeblood of the UAE commercial spirit. … Repeat is … Source: Khaleej Times. macro_action: article, Have news to share? We are passionate about entrepreneurs and teams that have taken … The startup community is certainly witnessing a spurt in mental health services and is gaining traction among businesses. A tech startup based in Cairo has just raised a six-figure amount of investment funding to expand its platform to offer digital services to closed communities in the Middle East and North Africa. In Dubai specifically, the emirate’s commitment to award 20% of all Expo 2020-related contracts to SMEs has further incentivised the development and growth of small business. In fact, any business has money at its core. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. This will mean implementing data driven machine learning operations, enhanced omni-channel engagement, and personalised services that leverage customer data effectively,” added Azmi. Souq.com received initial seed funding, grew astronomically, ... and investing in UAE startups leveraging the platforms and services offered by the Dubai ecosystem. Startup Funding From A-Z With Marcel Muenster & Global Entrepreneurship Summit Call For Applications Startup Grind Abu Dhabi Welcomes Careem’s Magnus Olsson LinkedIn Makeover with Referbility.com’s Clemens Mielke & LinkedIn Influencer Sohaib Hasan Abu Dhabi’s First Startup Grind & LinkedIn Local Networking Mixer Derek Andersen (Startup Grind + Bevy CEO) Nina Curley (Flat6Labs Abu Dhabi) Majid … Sajid Azmi, founder and chief executive officer, Yegertek, said: “Pandemic induced restrictions accelerated the growth of e-commerce, but this should not be seen as a temporary transition. Last year, Pakistan recorded $77 million in 48 deals, and Turkey recorded $383 million in 140 deals. The UAE has long been synonymous with change and innovation. Etihad Credit Insurance, TDB sign agreement. Tap Payments: Stripe for MENA. Speaking of the launch and funding for Fenix, IQ Sayed, in a press statement said, “The … “Covid-19 rapidly accelerated the adoption of technology across emerging markets, creating larger markets and more opportunities to scale. Provided by SyndiGate Media Inc. (Syndigate.info). The market now has more appetite for mental health services.” — sandhya@khaleejtimes.com, The UAE is Africa’s fourth-largest global investor with an... READ MORE, Abu Dhabi Sustainability Week 2021 consists of a series of high-level ... READ MORE, The acquisition will be another step towards cementing Agthia’s ... READ MORE, Natural gas will play a leading role in national energy strategies... READ MORE, Dubai authorities tighten rules to keep residents, tourists safe from ... READ MORE, Dubai Tourism has put all entertainment activities on hold until... READ MORE, UAE doctors have put his fears to rest, saying: Men looking to have... READ MORE, The scourge has killed over 2 million people worldwide. By tracking and analysing startup investments in 19 countries and counting, we have been able to provide real-time intel to governments, founders and investors to support them in making informed decisions and policies,” added Bahoshy. Not only has a much larger subset of customers become used to the convenience of e-commerce, the services on offers have also been enhanced. The three main innovation hubs — the UAE, Egypt and Saudi Arabia — accounted for 68 per cent of total deals disclosed in 2020 and once again, the UAE ranked first and accounted for the lion’s share of total funding and the highest number of deals in Mena, representing 56 per cent of all capital deployed across Mena (26 per cent), with 129 deals and $579 million in funding in 2020. The three main innovation hubs — the UAE, Egypt and Saudi Arabia — accounted for 68 per cent of total deals disclosed in 2020. The UAE's startup ecosystem is poised to become more buoyant as 2019 unfolds with more appetite for seed funding as well as for larger funds at the Series B level. The nation displayed a unique ability to tackle challenges — be it global or regional — making it the most vibrant regional player both in terms of deals and funding. UAE-based Fenix, a new micromobility venture focused on the Middle East, has secured a $3.8 million seed … READ MORE, UAE fights Covid: Dubai suspends entertainment on board vessels, floating restaurants, Dubai fights Covid: Eateries get new social distancing rules, Coronavirus: UAE reports 3,552 Covid-19 cases, 3,945 recoveries, 10 deaths, Dubai fights Covid: New gym rules announced, Covid-19: Emirates suspends flights to Copenhagen, UAE expats harassed in viral video, 4 men arrested, Rise in Covid-19 cases: UAE police, doctors issue advisory for residents, Myth busted: Covid-19 vaccine won’t affect men’s fertility, Dubai parties, weddings: Maximum number of guests reduced, UAE-US flights: Mandatory Covid test for all travellers, aged 2 and above, Russia’s Sputnik V vaccine in UAE: All you need to know. Hoping for a similar trajectory in MENA third party provider the sites you frequent the most part... 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