Middle East and Africa Startups Pull in Nine-Figure Capital This Week

More than $420 million in fresh capital reached Middle East and Africa startups and fund managers over the past seven days, spanning new AI vehicles in Oman, a $130 million Egyptian close and a $40 million Moroccan healthcare deal.

Arab News, which compiled the roundup from Riyadh, reports activity across funding, technology and new markets. Here's what moved.

Where did the big money land?

Oman's Phaze Ventures launched two investment funds targeting more than $75 million combined, with over $40 million already committed to artificial intelligence startups in Oman and international markets. Fund II draws backing from ITHCA, Ominvest and Oman LNG Development Foundation. Future Fund Oman supports the Oman-focused vehicle. Phaze has already disclosed five AI investments.

Egypt's Tanmiya Capital Ventures closed its second fund at $130 million, beating its $120 million target. The European Investment Bank committed $37.5 million, joined by IFC, EBRD, MSMEDA and other investors. European Investment Bank Vice-President Gelsomina Vigliotti and Tanmiya Managing Partner Ahmed El-Guindy marked the close. The growth-equity fund plans a portfolio of six to eight established Egyptian companies across healthcare, training, fintech, consumer goods, logistics and transport, with a focus on expansion and stronger governance.

UAE-based BY Venture Partners closed its third fund at $60 million, lifting assets under management above $200 million. Dubai Future District Fund anchored the vehicle alongside regional family offices and strategic investors. The fund will write checks of up to $1 million in AI-native startups from pre-seed to Series A. It has backed 15 companies so far and targets a 40-company portfolio.

DPI Venture Capital closed the Nclude Fund at more than $112 million for technology companies across Africa and the Middle East. Egypt remains its core market, with 30 percent of capital available elsewhere. The fund invests between $500,000 and $10 million from seed to Series C across fintech, financial inclusion, AI and technology-enabled businesses. Its 15 investments include Paymob, Nawy and Money Fellows.

Morocco-based ABA Life signed a $40 million investment agreement with Admaius Capital Partners, subject to closing conditions and Moroccan Competition Council approval. The company will scale its healthcare technology and clinical services, including its Mediot platform, and expand internationally using a strategy combining AI, medtech, telemedicine and connected infrastructure.

Which startups raised?

Egyptian climate-tech startup NoorNation raised $1.05 million from Linah Farms, Catalyst Fund and KBW Ventures. Linah invested after deploying NoorNation's clean-energy systems across its operations. Founders Ragy Ramadan and Mohamed Khaled build decentralized energy and water infrastructure. The capital funds manufacturing expansion, regional deployment and pay-per-use solar irrigation for diesel-dependent farmers.

Saudi property-tech platform Ghanem raised a $1.5 million pre-seed extension from real estate companies and strategic angels, bringing the round total to $8.6 million. Founders Saleh Waheed Al-Ghamdi and Amr Essam offer fractional property investment from SR1,000. The money supports product development, property diversification and partnerships across Saudi Arabia.

Rental payments platform Rently secured a $12 million growth credit facility from January Capital to expand across Singapore, Hong Kong and the UAE. Its UAE service lets tenants pay rent monthly while landlords receive structured payouts. Rently reported more than 100 million Emirati dirhams ($27.23 million) in local contracts and plans a $10 million to $15 million Series A in 2027.

Africa-focused investment programme Madica secured an additional $6 million from Flourish Ventures, extending its pilot for three years and funding up to 30 more early-stage startups. Launched in 2022 and led by Emmanuel Adegboye, Madica has invested in 18 startups across 10 countries and 12 sectors. It targets founders with paying customers and limited institutional funding.

What launched on the technology side?

YouTube launched its Shopping affiliate program in Saudi Arabia, the UAE and Egypt, letting eligible creators tag products in videos, Shorts and livestreams and earn commissions on completed purchases. Amazon is the program's first regional partner. Eligible YouTube Partner Program creators need at least 500 subscribers. New features include AI-assisted product tagging and QR-based checkout on television screens.

FinBursa unveiled FinBursa 360, an AI-native platform combining customer management, deal execution, virtual data rooms, fundraising, investor onboarding and reporting for private-market professionals. Founded in 2024 by former BlackRock director Ismail Badereldine, the platform runs five specialized AI agents for research and due diligence and requires human approval before external outreach.

What else is happening on the ground?

Twelve businesses graduated from Egypt's GreenShift accelerator after securing a combined 57.5 million Egyptian pounds ($1.03 million). Nahdet El-Mahrousa implemented the program with GIZ, backed by European and German funding. The cohort spans climate technology, recycling, sustainable materials and waste management. GreenShift received 1,353 applications, trained 46 fellows and helped eight businesses progress through licensing requirements.

Ajman Chamber introduced Thara, an entrepreneurship and investment ecosystem connecting founders with investors, partners and support services. It launched at the inaugural Thara Connect Forum on Oct. 29, combining panels, networking and a startup exhibition at the Thara Entrepreneurship Centre.

The Downtown Tech Summit returns to Barahat Msheireb in Doha on Nov. 17. Speakers include Wamda Capital founder Fadi Ghandour, Snoonu founder Hamad Al-Hajri and investors Khaled Talhouni and Soumaya Ben Beya Dridje. The program features the Azal Innovation Program finale.

The week's breadth — from a $40 million Moroccan medtech deal to a $1.05 million Egyptian seed round — signals that regional capital is now moving at every stage of the venture stack.