Author: Mahdeehassan
The Innovative Startups and SMEs Fund (ISSF), the largest investment fund of its kind in Jordan, proudly announces a $5 million investment in Rua Growth I LP, a $45 million venture capital fund. Rua Growth I LP, with a sector focus on Marketplaces, Fintech, Enterprise Solutions, and SaaS, is dedicated to supporting early stage and inflection of growth startups. The Rua Growth Fund has been mandated by ISSF to reinvest the initial $5 million at a multiple in Jordanian startups. ISSF CEO Mohammed Al Muhtaseb stated, “We are proud to welcome Rua Growth Fund to our portfolio of funds. Their…
Viridia Tech has been named the overall winner of the 2024 Mega Green Accelerator, following an exciting industry Demo Day held in Riyadh where eight startups from across the Middle East and North Africa region showcased innovative solutions addressing food security, clean energy transitions, and the circular economy. The Mega Green Accelerator, launched in 2023 by PepsiCo, SABIC, AstroLabs, and eleven other strategic partners, received over 350 submissions. The eight selected startups participated in a six-month programme of trainings and workshops, mentorship from business leaders, and opportunities to network, scale their businesses, and gain access to investors. “PepsiCo has been…
Dubai – 22 OCT 2024 – CNTXT, a leading AI readiness and data solutions company, signed a partnership with AI71, a growing venture that develops AI applications powered by the Technology Innovation Institute’s Falcon AI models, at GITEX Global this week that will enhance the UAE’s AI data landscape. As part of the agreement, CNTXT will become AI71’s preferred data annotation partner. By focusing on critical areas such as data annotation and strategy, data governance and compliance, and AI readiness, CNTXT will help ensure that AI71 is equipped to maximize the value and impact of the data its AI solutions…
During a week of key ministerial meetings in Jeddah involving countries from across the MENA region, the Kingdom of Saudi Arabia has called for Arab states to intensify land restoration and drought resilience initiatives. It comes as Saudi Arabia’s incoming presidency of the 16th UN Convention to Combat Desertification (UNCCD COP16) ramps up international engagement to address land degradation, desertification and drought, ahead of the key global conference taking place in Riyadh in December. “COP16 in Riyadh will be the largest UNCCD COP to date, and the first to be held in the Middle East region. It is a crucial moment…
Saudi Venture Capital (SVC) announced an investment of $15 million in Saqr Fund II, a venture capital fund managed by Vision Ventures. Saqr Fund II, with a target size of $90 million, will invest in early-stage startups from pre-seed to pre-series B with a sector-agnostic approach in Saudi Arabia and the MENA region. Dr. Nabeel Koshak, CEO and Board Member at SVC, commented: “Our investment in the venture capital fund by Vision Ventures is part of SVC’s Investment in Funds Program, in alignment with our strategy to catalyse venture investments and minimise fund-raising entry barriers for fund managers who are…
Fuelre4m Makes a Significant Impact at Gitex Summit Dubai, 15th October 2024– Fuelre4m, a proud UAE-based British company, has successfully showcased its revolutionary approach to fossil fuel reforming at Gitex Impact. Managing Director Rob Mortimer presented the company’s pioneering solutions, including the world’s first Styrex technology, which addresses one of the globe’s most pressing pollution challenges: expanded polystyrene (EPS) waste. During his impactful presentation, Mortimer highlighted how Fuelre4m is transforming the energy landscape by reengineering fossil fuels through cutting-edge technology. “Our aspiration is clear: we aim to set a new standard of sustainability for industries worldwide. By refining fossil fuels,…
Leading the Refill Revolution for a Greener Future Dubai, UAE, October 2024 – SunKiss, a leader in innovative suncare, is proud to introduce its Refill Programme, designed to significantly reduce plastic waste and promote a more sustainable approach to suncare. With SunKiss’s ‘Forever’ Aluminum Bottles, customers can now embrace a reuse, refill, and relove model that merges luxury skincare with environmental responsibility. SunKiss believes that true sustainability starts with rethinking how we consume everyday products. Their SunKiss ‘Forever’ aluminum bottles, are endlessly refillable and infinitely reusable. Lightweight, corrosion-resistant, and fully recyclable, ensuring your skin gets the care it needs without…
Abu Dhabi, UAE – CNTXT, a leading data services and solutions company, supported by Amazon Web Services (AWS), an Amazon.com company, embarks on several initiatives to empower Abu Dhabi government as well as UAE startups. CNTXT aims at developing a unified platform powered by AWS to streamline licensing, permitting, inspection, audit, and litigation processes for the Abu Dhabi government, with the potential to expand to other regions and governmental entities in the UAE. Leveraging UAE-grown LLM models, the initiative will contribute to the development of a robust data and AI service platform for government use. AWS will provide support through…
Quantum, Saudi Arabia’s leading adtech and data platform that connects advertisers with publishers, announced today that it has secured funding as part of its $7 million Pre-Series-A round from HearstLab, the investment arm of Hearst Corporation dedicated to scaling early-stage, women-led tech startups. This marks HearstLab’s inaugural investment in the Middle East and underscores the rapid growth of Saudi Arabia’s tech ecosystem. Quantum, also backed by global investors such as 500 Global, Vision Ventures, Sukna Ventures, and Tech Invest Com, recently completed its latest funding round, positioning itself as a trailblazer in the region’s digital transformation. The company’s platform empowers…
New services enhance customer convenience with personalised, transparent, and seamless transactions. Dubai, October 2024 – CARS24, a leading player in the UAE’s automotive industry, continues to raise the bar by launching two new services designed to enrich the customer experience and further personalise their journeys. These additions are in line with the company’s digital-first strategy, reinforcing its commitment to digital transformation in the automotive sector. CARS24’s latest services include the introduction of a Customer-to-Customer (C2C) platform and the launch of ‘Doorstep Servicing’ to provide maximum convenience for customers across the UAE. Streamlining Car Transactions with C2C CARS24’s C2C platform is the first of…