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Amnesty International calls for Google to halt cloud business in Saudi Arabia

The Verge

Amnesty International is teaming up with 38 other human rights groups and individuals to call for a halt to Google’s plans to set up an enterprise cloud business in Saudi Arabia because of concerns over the country’s human rights track record.

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Lucid Motors goes public, collects $4.5 billion

The Verge

Shares of the Saudi-owned , California-based startup began trading on the Nasdaq stock exchange Monday morning. The public listing is the second in the last week for the industry; fellow EV startup Faraday Future became a public company listed on the Nasdaq last Thursday and raised $1 billion in the process.

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Y Combinator, 500 Startups, Plug and Play invest in Odiggo’s $2.2M seed round

TechCrunch

Over 50,000 car owners across three markets — Egypt, the UAE and Saudi Arabia — use Odiggo. CEO Omar said with this new round, Odiggo’s priority will be to attain consistent growth while expanding its team across the UEA, Saudi Arabia and Egypt. The company also works directly with over 300 merchants.

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SNK is now almost entirely owned by the Saudi crown prince’s foundation

The Verge

Recently, Saudi Arabia has made some big investments in the gaming industry. Bloomberg reported in February that Saudi Arabia’s Public Investment Fund (PIF) has taken stakes of more than 5 percent in both Capcom and Nexon — stakes that, combined, are worth more than $1 billion.

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Dragos raises $110M Series C as demand to secure industrial systems soars

TechCrunch

This latest round of funding will help the company with its go-to-market efforts, as well as growing its customer support team with 30 staff and building up its sales and marketing team. About one-third of the company’s employees work in software engineering to build its threat platform.

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SWVL plans to lay off 32% of its team two months after going public

TechCrunch

Tech companies, private and public, have faced a reckoning in the past few months with their valuations taking a beating. This March, the company went public via a SPAC merger with U.S. The company’s LinkedIn profile shows it has over 1,330 employees. It’s been a very busy 18 months for SWVL leading up to this news.

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Lucid Motors passes Ford’s market cap four years after it nearly got bought

The Verge

That never happened, though, and Lucid Motors ultimately treaded water until striking a massive deal with Saudi Arabia, which now owns a majority of the startup. Four years after Ford was reportedly considering buying Lucid Motors, the EV startup is now worth more than the Detroit automaker. Ford finished the day at about $79 billion.