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UAE-based Zest Equity, a startup digitizing private market dealings, has raised $3.8 million seed funding to build more tools for enabling fast and transparent transactions by ecosystem players while increasing their liquidity through secondary deals.
Chinese e-commerce giant JD.com has started quietly piloting its cross-border platform Joybuy in the UK, marking its push into the European market. 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.
Li said many experienced personnel had been moved into the new team early this year, adding that the company is confident it will make significant progress in the overseas market this year. billion) in 2024, dragging its shares on the Nasdaq down more than 4% as of market close on March 14.
The news comes months after rival BYDs compact crossover Atto 3 arrived in UAE via an alliance with local dealership Al-Futtaim in June. Geely-affiliated Zeekr signed sales agreements with partners in UAE, Saudi Arabia, Qatar and Bahrain last month. TechNode reporting , Caixin, in Chinese ]
Policybazaar has raised $75 million as the Indian online insurance platform looks to expand its presence in UAE and Middle East. In a recent report, analysts at Bernstein estimated that Policybazaar commands 90% of share in the online insurance distribution market. “India has an under-penetrated insurance market.
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. The UAE itself is a $8+ billion market for private education fees and they are already well poised to capture leadership.”.
One Impression, an Indian influencer marketing platform that does business in markets including Indonesia, Dubai, Europe and the U.S., The Gurugram-based startup is building an Amazon-like platform to help brands quickly find relevant influencers for their marketing campaigns.
CEO Aahan Bhojani and Ashmin Varma founded Silkhaus last year after identifying a $13 billion market opportunity for asset owners across emerging markets, particularly MENA, South Asia and Southeast Asia. Frankly speaking, finding a good Airbnb in these markets is like pulling a needle out of a haystack.
We’ve had a busy few months in the Middle East and Northern Africa (MENA) building great relationships with important customers in the region and working closely with critical partners that will act as managed service providers helping us as we bring the value of AI to that market. Why DataRobot?
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. Wafeq is a ratified provider in Saudi Arabia, and the UAE (e-invoicing is not mandatory there yet).
TechCrunch gathered that Opontia has somewhat switched focus on its target market. Though it launched with eyes on the Middle East and Africa, the company has only made efforts in some parts of the former (the UAE and Saudi Arabia) while making significant headway into Central and Eastern Europe, particularly Turkey and Poland.
The funding is coming at a high-watermark moment for edtech — with the shift to remote learning in the last year of pandemic living highlighting the opportunity to build better tools to serve that market, and a number of startups in the category subsequently raising hundreds of millions of dollars to tackle the opportunity.
Micro and small businesses in emerging markets still struggle to access digital payments for several reasons. 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.
the corporate spend space is getting increasingly competitive, with several startups clamoring to gain market share. But in the Middle East, the market is far less crowded. That has accelerated card acceptance –– with 90% card acceptance rates in the UAE and Saudi Arabia by some estimates — in the region. and the UAE.
MAX ) is planning to enter more markets across Africa as it races towards formalizing the continent’s transportation sector after securing $31 million in Series B funding. Nigerian mobility tech startup Metro Africa Xpress Inc. (
Invygo, a startup operating in UAE and Saudi Arabia, has raised $10 million in its Series A funding led by MEVP as it works to scale its car rental service in the region. Roughly 200 cars are available for subscription in Saudi Arabia and 100 in UAE on the platform on a typical day. million to date. Growing subscribe-to-own service.
Then for the suppliers, it increases their sales and reaches more customers without necessarily spending on marketing. Over 50,000 car owners across three markets — Egypt, the UAE and Saudi Arabia — use Odiggo. Odiggo is part of the current YC Summer batch and has secured a $2.2 million seed round before Demo Day.
This is Equity Monday, our weekly kickoff that tracks the latest private market news, talks about the coming week, digs into some recent funding rounds and mulls over a larger theme or narrative from the private markets. With a busy funding market and a yet-busy IPO cycle, it should be yet another busy week.
The round, which is a combination of equity and debt financing, lists investors from the Middle East, including DisruptAD and (the VC arm of ADQ, an Abu Dhabi-based sovereign wealth fund), and SHUAA (a major UAE asset management and investment banking firm). The biopharma industry uses more optimistic numbers.
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.
Gen Zs in the UAE spend about AED 5B+ every year, and still rely on cash or their parents’ cards despite having options like supplementary cards issued by their parents’ banks. The app brings convenience to parents too as it enables them to send money to their children, and to monitor their spending and saving habits.
General Atlantic, SoftBank Vision Fund 2, Princeville Capital and sovereign wealth funds, ADQ (UAE) and Qatar Investment Authority co-led the round. . Trendyol , an e-commerce platform based in Turkey, has raised $1.5 billion in a massive funding round that values the company at $16.5 The deal marks SoftBank’s first in the country.
Nigeria-based health tech startup Helium Health has acquired Meddy , a Qatar-headquartered and UAE-based doctor booking platform for an undisclosed amount. If they do, they’re doing it at a price point that’s so high that they’ve already priced out the market in that sense,” Olubusi said to TechCrunch. Helium Health.
By leveraging this investment, we will capture broader Japanese market opportunities. 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.” . The company expects to address local remote learning and education in the market.
Its two main markets are Saudi Arabia and the UAE. A surprising event, according to him, is the fact that these Middle Eastern markets—while still in relative infancy—seem to be adopting BNPL at checkout faster than some developed markets. Dubai-based buy now, pay later platform tabby raises $50M at $300M valuation.
With supply chains in the automotive industry continuing to be disrupted due to Covid-19, demand has surged in the used-car market. Cars24 claims to have a 90% share of India’s used-car market, and it’s gotten there by way of technology. It plans to add to that list with its next markets in Southeast Asia, Jangid confirmed.
At the same time, it has raised $35 million in a Series C funding round led by UAE-based investor Mubadala. In a statement, Mike Alexandrovski, founder of Borzo, said: “With the new round closed we continue to move toward our goal of becoming one of the top courier delivery companies in every market we operate in.
The company is also set to spread into more Asia-Pacific markets and the Middle East. In 2018, Crop One announced a 130,000-square-foot farming facility set to open in the UAE. .” Much of the funding will go toward Infarm’s international expansion plans, with sights set on the U.S., Canada, Japan and additional parts of Europe.
“After a couple of years on the market, and with tens of thousands of sensors deployed, we have millions of irrigation events, covering more than 33 crops, with over 200 varieties in any geography you can imagine, and in every climate condition you can imagine. Our solution enables the UAE to save 70% of its water consumption.
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.
The round was led by existing investor BECO Capital (UAE) and joined by 4DX Ventures (USA), GSV Ventures (USA), Watar Partners (KSA) and others. Founded in late 2019, the startup has expanded from Jordan into Egypt and Pakistan.
Nvidia kicked off the AI race by providing the computing power with its market-dominating graphics processing units (GPUs). is the first mass market AI model that is natively multimodal, meaning that it can process and generate images, video, audio, and computer code the same way it does text. enterprise market during 2024.
Mylerz , a Cairo-based e-commerce fulfillment startup, plans to enter three new markets in North Africa and expand across Egypt over the next three months against the backdrop of the $9.6 Our immediate plan is expanding across Egypt, opening new markets and facilitating cross-border trade for our customers.
One, startups are building solutions identical to other emerging markets, such as QuintoAndar in Latin America, Huspy in the UAE and NoBroker in India. But there’s recent activity suggesting that growth is imminent in the African proptech space.
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. Qureos says it’s creating new learning and work opportunities for millions of youth.
Indian startup FreshToHome, which sells fresh fish and meat to consumers in the South Asian market and the Middle East region, has courted a new backer: Amazon. Started in 2015, FreshToHome is one of the largest players battling for a slice of the $100 billion Indian fish and meat market.
based VCs Global Founders Capital (GFC) and Goodwater Capital and UAE-based early-stage firm VentureSouq. The plan is to scale in the country and then expand to other markets,” Ismail stated. “We We anticipate being in at least one market before the end of the year and a couple more early next year.”.
The round included a slew of new and existing investors, including Sequoia, Silver Lake, Commonwealth Bank of Australia, the UAE’s sovereign fund Mubadala Investment Company and Canada Pension Plan Investment Board (CPP Investments). Klarna confirmed today that it’s now valued at $6.7 A positive spin.
Being an enthusiast of the food tech space, El Daly began to explore market gaps and saw an opportunity in using technology to help restaurants and food brands make a return on investment while maintaining their quality of service. These clients are charged a percentage of their revenues, including aggregation, marketing and procurement fees.
Until last September, Tabby, which allows users to shop with flexible payments online and in-store from global brands, including H&M, Adidas, IKEA, noon and Bloomingdale’s, was active in Saudi Arabia, UAE and Kuwait. Consumer demands differ across regions and noting the nuances behind each market is adequate for survival as a fintech.
Don’t Just Use Canva—Master It Whether you're running an agency in Dubai, coaching clients in Riyadh, or managing a side hustle in… Continue reading on Medium
In addition, Volopay will hire aggressively in each of its new markets. . Since Volopay has entered the Singaporean and Australian markets, the startup now eyes the entire APAC region and MENA countries such as UAE, Saudi Arabia and Egypt, Rajith said in an interview, adding that the growth prospects in those countries are immense. .
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.
Others include developing its proprietary technology stack and growing its three models — where it makes $5 million in MRR — across existing and new markets, it said in a statement. SWVL is present in 13 markets globally: the UAE, Egypt, Kenya, Germany, Spain, Italy, Switzerland, Turkey, Japan, Argentina, Saudi Arabia, Jordan and Pakistan.
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