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Why it matters: JD.com began its globalization journey early, but has struggled to secure a leading position due to a lack of strategic focus. The move signals JDs ambitions to capture a slice of the UKs 127 billion ($163 billion) retail e-commerce market in 2024 the third-largest globally.
Global growth is among the key pillars underpinning the electric vehicle makers goals of maintaining sales momentum in 2025, chief executive Li Xiang told investors on March 14.
The Financial Times reports that Saudi Arabia has bought at least 3,000 Nvidia H100 GPUs, which Nvidia CEO Jensen Huang calls the first chip designed for generative AI. With its 14,592 CUDA cores, 80GB of HBM3 capacity, and 5,120-bit memory bus, it's priced at a massive $40,000. Read Entire Article
but global expansion is the main reason we pulled the capital up. Multiple countries want things like this and drone companies are going global too,” he continued. As an example he suggested the UAE, where after years of lax drone regulations the country suddenly forbade all drone operations a few months ago pending new policies.
Zenda , a UAE-based startup looking to change how parents pay school bills, and the way educational institutions manage fee collection, is eyeing Africa as its next frontier for growth. Among the investors that took part in the seed round were STV, COTU Ventures, Global Founders Capital and VentureSouq.
One, most of them are excluded from various payment ecosystems globally due to their size, and two, getting hardware from providers can be expensive. . This suite of services is essential in the primary markets in which Nomod is aiming to build a significant merchant base, like Saudi Arabia, the UAE and Bangladesh. Australia and Asia.
As Senior Technical Analyst at GlobalData, Beatriz Vale explains “It will be exciting to follow the evolution of the new AI CoE, in the stimulating environment offered by Hub71, and within the context of the fast-growing market of Abu Dhabi and the UAE, the second largest economy in the Arab world.”
This investment is only the beginning of our journey in creating a new industry ecosystem and we will carry out this mission with global partnerships.” Riiid wants to transform education with AI, and achieve a true democratization of educational opportunities,” said Riiid CEO YJ Jang in a statement.
Policybazaar has raised $75 million as the Indian online insurance platform looks to expand its presence in UAE and Middle East. The startup, which is working on an initial public offering slated for next year , said it will use the fresh investment to expand its presence across the UAE and Middle East regions.
And today, the company is announcing that it’s just closed a $6 million seed round led by Global Founders Capital that included participation from firms such as Soma Capital, Graph Ventures, Adapt Ventures and OldSlip group. It is gearing up to formally launch in the UAE and Saudi Arabia in the coming weeks. and the UAE.
STV led the round, with Raed Ventures, Global Founders Capital, Upper90 and VentureSouq participating. In terms of the biggest markets for us, it’s Poland, Turkey, Saudi, UAE, Nigeria, after that is Egypt and Pakistan.” Angel investors Salman Butt of Salla and Wiktor Namysl of McKinsey Poland joined, as well.
The latest funding round that was led by global private equity platform, Lightrock, which is making its first investment in the African mobility space.
Meanwhile, Frederic reports on Google Cloud launching AlloyDB Omni ; Ivan has your look at Google’s new ad transparency center ; Manish reports on an Android antitrust case in India ; Aisha writes about new Google Search features ; and Lorenzo and Carly round it out with a story on hackers using spyware to target users in the UAE.
I went to Dubai for the first ever Summit on the Global Agenda. The UAE are in an incredible state of construction: I don't know of many places on earth (other than China) where so much has been built so fast. I spent the day before the council driving around the United Arab Emirates and a bit in Oman.
Approximately 80 percent of those customers are located in the US, but Microsoft also identified victims in Canada, Mexico, Belgium, Spain, the UK, Israel, and the UAE. We need a more effective national and global strategy to protect against cyberattacks,” he writes. Investigations into the hack are ongoing.
“Building a global farming network of our climate-resilient vertical farms is a core mission at Infarm, which is why we’re excited to announce this latest funding round,” co-founder and CEO Erez Galonska said in a release. In 2018, Crop One announced a 130,000-square-foot farming facility set to open in the UAE.
Riiid has said it will continue to fuel its global expansion with the funding. . This acquisition is the first step in an inorganic strategy to ultimately apply Riiid’s AI technology to the global market and help more learners around the world.” . Riiid has been actively penetrating the global market since 2020 after it opened the U.S.
Tabby , the Dubai-based buy now, pay later (BNPL) platform that lets users shop, pay later and earn cash from over 3,000 global brands, including Adidas, IKEA and Bloomingdale, has completed a Series B extension of $54 million. Its two main markets are Saudi Arabia and the UAE. What’s your BNPL startup really worth?
At the same time, it has raised $35 million in a Series C funding round led by UAE-based investor Mubadala. Also participating were VNV Global, RDIF, Flashpoint Venture Capital and others. They have succeeded in going global; becoming competitive in 10 new international markets.”.
General Atlantic, SoftBank Vision Fund 2, Princeville Capital and sovereign wealth funds, ADQ (UAE) and Qatar Investment Authority co-led the round. . Trendyol founder Demet Suzan Mutlu said the new capital will go toward expansion within Turkey and globally. Trendyol , an e-commerce platform based in Turkey, has raised $1.5
Recent research suggests that the e-commerce market in Saudi Arabia, UAE and Egypt account for a combined $21.4 The revenue-based financing company for e-commerce platforms, which claims to be growing 300% quarter over quarter, also mentioned that it has partnered with tens of clients from Egypt and UAE in six months.
Alpha Wave Global (which co-led the last round under its previous brand , Falcon Edge Capital) is leading this Series G, with participation from other existing investors. Launching in more developed markets like Australia and UAE has seen Cars24 adjusting its approach based on different market factors, he added. billion, versus $1.84
based VCs Global Founders Capital (GFC) and Goodwater Capital and UAE-based early-stage firm VentureSouq. The investment from Visa came as one of the incentives for Bloom’s participation in the global card scheme’s Fintech Fast Track Program. This investment is coming after the startup’s undisclosed pre-seed round last year.
Citizen Lab says it has “medium confidence” that one is working on behalf of the UAE government and another for the Saudi government. The attacks reportedly used Pegasus technology provided by the Israeli firm NSO Group, and are thought to be the work of four operators.
Alpha Wave Global (formerly called Falcon Edge Capital), which led the seven-year-old startup’s previous funding , has returned alongside Tiger Global to co-lead a $250 million Series F financing round, the startup said. Moglix has more than doubled its valuation to about $2.6
Founder and chief executive officer Khaled Zaatarah launched VUZ, formerly 360VUZ, as a platform to bridge the gap between physical and virtual worlds by offering premium immersive content to a global audience. Zaatarah said partnership and integration with 45 telecom operators is the backbone behind the company’s global expansion.
Venture capital firms that participated in the round include Nuwa Capital, Nordstar, Global Founders Capital, Yuj Ventures, Whiteboard Capital and VentureSouq. Silkhaus’s engineering team, split across the UAE city and Bangalore, is currently building out its technology stack, the company said in a statement.
With each region playing host to its own network providers, it is almost impossible to deliver a consistent and delightful customer experience for our global company clients operating in different parts of the world.” . Volopay’s Series A round, for example, was led by JAM Fund, an existing investor.
The idea behind such a daring move — which appears to be a bit of a stretch considering the timeline — comes from the founders’ ambition to change an industry that has lagged behind other regions in the wider GCC, such as Saudi Arabia and the UAE, in terms of e-commerce penetration.
Qureos , a UAE-based edtech and remote work marketplace that is changing how people upskill and get jobs across the globe, plans to grow the uptake of its platform by 10 times this year in its race to create 100 million jobs over the next few years.
It also plans to unlock it for LinkedIn and Moj in India and TikTok for global markets over time. It holds massive untapped potential, and we believe that One Impression is rightly positioned to be a global leader of the influencer industry. Currently, One Impression has enabled its platform for Instagram and YouTube.
PayPal Ventures, the global corporate venture arm of PayPal, is one of the participating investors (this marks its first investment in the Gulf Cooperation Council (GCC) but second in the MENA region after Egyptian fintech Paymob ). The investors co-led the fintech’s Series B extension round last June. .
The challenge of safely landing on the lunar surface, once the domain of global superpowers, has become accessible to deep-pocketed private space companies, and it seems certain that the next decade will see landers of numerous “brands” touching down on regolith. ecosystem as well.
One, startups are building solutions identical to other emerging markets, such as QuintoAndar in Latin America, Huspy in the UAE and NoBroker in India. If you look at Airbnb, Booking.com, and other global players, even QuintoAndar, they started slowly before blitzscaling. For us, we didn’t take the burning cash to grow approach.
Following this growth, it is planning on expanding to Egypt and the UAE, while doubling down on Saudi Arabia, against the backdrop of $5 million pre-Series A funding it has raised, in a round led by Europe-based VC Speedinvest, which marked its debut into Saudi Arabia, and RAED Ventures, with participation from MENA focused VC firm Wamda Capital.
FreshToHome today serves over 4,000 fishers and farmers and millions of customers in over 160 cities in India and the UAE and offers more than 2,000 certified fresh and chemical-free products. But in recent months, the American giant has retreated from many business lines in the country as it reels from the global market conditions.
This downsizing from the Dubai-based startup adds to the long list of global cross-stage layoffs in what has been a rough month for tech employees. SWVL is present in 13 markets globally: the UAE, Egypt, Kenya, Germany, Spain, Italy, Switzerland, Turkey, Japan, Argentina, Saudi Arabia, Jordan and Pakistan.
Vadym Synegin is a Ukrainian impact entrepreneur, philanthropist and investor in fintech and crypto projects with more than 15 years’ experience as an entrepreneur in Europe and the UAE. Global finance and tech firms are supporting Ukraine.
Latest global social, digital, mobile data for ya : his report presents all the key statistics, data and behavioural indicators for social, digital and mobile channels around the world. For other reports in this series, please visit [link] H/T to Social Fish'
Since launching in Egypt, Koinz has expanded to Saudi Arabia and the UAE. Besides, consumers in the Middle East are outpacing the global appetite in food delivery, with 64% ordering in at least once a week compared to 40% made by global consumers. Like Egypt, these markets have similar dynamics and demographics.
This round included $5 million in debt from global impact fund IIX and an undisclosed national bank. The startup is eyeing Southeast Asia, the UAE and Europe as its first potential global markets. Zypp Electric wouldn’t disclose its exact valuation post-funding, though Gupta said that it was roughly 5.5–6x
Vadym Synegin is a Ukrainian impact entrepreneur, philanthropist and investor in fintech and crypto projects with more than 15 years’ experience as an entrepreneur in Europe and the UAE. More posts by this contributor. 5 reasons why Ukraine’s fintech sector is growing despite war.
Meanwhile, Yaydoo has raised over $20 million from investors such as Base10 Partners, monashees, SB Opportunity Fund and Leap Global Partners. Apple alum’s finance operations startup Bluecopa raises funds to expand globally. The startup says it will also continue to grow its local presence and team in EMEA.
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