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Dubai-based accounting and financial compliance startup, Wafeq, raises $3M

TechCrunch

The United Arabs Emirates (UAE) and Saudi Arabia became the first member states to adopt the treaty in 2018, and its implementation meant that for the first time businesses in these territories were required to file VAT returns periodically. The startup is in the process of seeking approval from the Egyptian Tax Authority too.

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Lucid Motors goes public, collects $4.5 billion

The Verge

Funding for electric vehicle startups was much harder to come by in 2016 and 2017, though, especially as some of them — like Faraday Future — began collapsing in remarkably public fashion. Lucid Motors then found a savior in Saudi Arabia’s sovereign wealth fund in 2018.

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

The Verge

percent of SNK’s shares, according to a February 15th filing on SNK’s website ( PDF ). Recently, Saudi Arabia has made some big investments in the gaming industry. Electronic Gaming Development Company (EGDC), which is owned by the Mohammed bin Salman Foundation (MiSK Foundation), holds 96.18 percent stake in SNK.

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Lucid is raising prices on its luxury Air EV by as much as 13%

TechCrunch

The company also noted that it recently signed a deal in which the government of Saudi Arabia committed to purchase up to 100,000 electric vehicles from Lucid over the next 10 years. The agreement commits Saudi Arabia to provide loans of up to $1.4 Lucid Motors Q1 2022 financials. IV and Atieva Inc.

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Chip company Arm files for Nasdaq listing in IPO anticipated to be this year’s biggest

TechCrunch

based chipmaker owned by Japan’s SoftBank since 2016, has filed for a Nasdaq listing under the ticker symbol “ARM,” five months after announcing it had filed confidential, preliminary IPO paperwork with U.S. billion into WeWork both directly and via its Vision Fund arm. Arm, the U.K.-based regulators.

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Rivian’s IPO filing reveals Amazon’s prime influence

The Verge

The filing , known as the Form S-1, serves as a sort of ultra-detailed pitch to the financial markets. There are a bunch of key numbers still missing that we won’t get until the startup files subsequent amendments, including exactly how much voting power or ownership any one company or person currently has.

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Apple, Samsung partner Servify raises $65 million for its devices after-sales and management platform

TechCrunch

Singularity Growth Opportunity Fund led the Mumbai-headquartered startup’s Series D funding. AmTrust and family offices including Pidilite and existing investors Iron Pillar, Beenext, Blume Ventures and DMI Sparkle Fund also participated in the round. Servify is also looking to deploy the fresh funds to buy smaller firms.