The Middle East and Africa’s startup ecosystem demonstrated significant momentum in the second week of February, with disclosed investment and acquisition deals surpassing a total of $575.8 million. Between February 8 and 15, the region saw a surge of activity in venture capital funding, strategic acquisitions, and the launch of new, specialized funds from players like MASNA Ventures.
Activity was heavily concentrated in Saudi Arabia and the United Arab Emirates, with key investments flowing into sectors such as fintech, artificial intelligence, logistics, defense, and sustainability, signaling a dynamic and diversifying landscape for regional tech.
Logistics Sector Dominates With Mega Deal
The delivery and logistics sector captured the lion’s share of the week’s funding, headlined by a single transaction valued at $435 million. Global ride-hailing giant Uber acquired the delivery operations of Turkish rapid delivery company Getir for $335 million in cash. The deal also included an additional $100 million investment from Uber for a 15% stake in the company.
This strategic move underscores the intense consolidation and competition within the last-mile delivery space across the wider region.
Saudi Arabia Cements Deep Tech And Fintech Leadership
Saudi Arabia emerged as a hub of high-value activity, with several key deals highlighting its growing influence in deep tech and financial services. HUMAIN, a subsidiary of the Public Investment Fund, announced the launch of HUMAIN Sport following its acquisition of a controlling stake in ai.io. The initiative aims to develop cutting-edge, AI-powered sports solutions for both local and global markets.
In a landmark move for the region’s defense industry, MASNA Ventures launched a $100 million fund, the first venture capital fund in Saudi Arabia dedicated exclusively to the defense sector.
The Kingdom’s fintech scene also saw a significant injection of capital. Simplified Financial Solutions, an expense management platform, raised $20 million in a Series A round to fuel its expansion within the Saudi market.
Seed Stage Deals Signal Growing Confidence
Early-stage startups also secured notable funding, indicating strong investor confidence in emerging solutions. UAE-based ThrowMeNot, a platform developing digital solutions to reduce food waste, closed a $550,000 pre-seed round.
In the digital logistics space, Saudi-based Routech Express raised SAR 3.75 million (approximately $1 million) in a pre-seed round to support its technical development and planned expansion.
About MASNA Ventures
MASNA Ventures is a Saudi Arabian venture capital firm focused on investing in the defense and advanced industries sectors. Its inaugural $100 million fund, MASNA Ventures Fund I, is the first in the Kingdom dedicated exclusively to supporting startups in defense technology, aiming to foster innovation and build a robust local ecosystem.
Source: EntArabi
