Money

Last Week in Funding (20-26 November)

Last week in funding is our weekly roundup of raises by startups in MENA and the GCC.

By Inc.Arabia Staff
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Last week, startups raised $800,000 in disclosed funding, with the tech-enabled cloud kitchen, Fork N Knife leading the charge. 

See our full roundup of investments below.

Tech-enabled Cloud Kitchen Fork N Knife Closes $800,000 Seed Round

Egyptian tech-enabled cloud kitchen, Fork N Knife, wrapped up a seed funding round worth $800,000 from angel investors and institutions from outside of the Middle East to fuel its growth and expansion plan.

Egypt’s WayUp Sports Wraps Up Undisclosed Seed Round 

Egypt-based marketplace for sports equipment and apparel, WayUp Sports, closed a seed round led by Beltone Venture Capital and Index Sports Fund and other strategic angel investors.

216 Capital Ventures Leads Six-figure Investment in Winshot 

216 Capital Ventures led a six-figure investment in Tunisian-French B2B software-as-a-service (SaaS) retail operations management startup Winshot. The funds will help Winshot expand its presence in France and Tunisia and grow its teams on both sides of the Mediterranean.

Kuwait's Raha Wraps Up Pre-Series A Funding Round 

Kuwait’s logistics tech startup, Raha, closed a pre-Series A funding round, led by Soor Capital and PIF-backed private equity fund, eWTP Arabia Capital. Raha has made use of its recent funding to expand its industry presence in Saudi Arabia and the UAE. 

Also worth noting: 

OSN+, Anghami Join Forces to Create MENA's Largest Streaming Service

OSN+ is set to pump $50 million into Anghami for a majority stake, with the new entity generating $100 million in revenues and catering to 120 million registered users and 2.5 million paying subscribers. The deal is expected to close early next year. 

Abu Dhabi Launches $300 Million Wealthtech Firm Alpheya

Abu Dhabi's $50 billion global alternative investment management company Lunate and US-based investment bank BNY Mellon will set up a $300 million wealth technology (wealthtech) firm, Alpheya, in the Abu Dhabi Global Market (ADGM). The firm will begin servicing clients next year.

UAE-based Modus Capital Announces Launch of Eight New Startups

Eight startups in beautytech, healthtech, fintech, and logistics have been built and launched as part of UAE-based venture platform Modus Capital’s nine-month Venture Builder program for 2023.  

Lebanese Dooda Solutions To Receive $100,000 Grant from PepsiCo

Lebanon-based agritech startup Dooda Solutions received a $100,000 grant from PepsiCo Greenhouse Accelerator Program: MENA Sustainability Edition, in partnership with the UAE Ministry of Climate Change and Environment (MOCCAE) and Food Tech Valley (FTV). Dooda will utilize the grant to further fuel its expansion plan.

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