A flurry of investment deals has been observed in the Middle East region, with UAE-based venture capitals securing multiple transactions across various sectors. One notable investment is Dubai-based Wamda Capital's participation in a $4.7 million seed funding round for Turkish health tech startup Salus. This funding round aims to revolutionize corporate mental health services. Northzone led the investment round, with contributions from other investors such as 500 Emerging Europe, Pitchdrive, and Is Bank's CVC arm, Collective Spark. Angel investors, including Fırat Ileri, Adam Anders, Inanc Balci, Egem Eraslan, Can Yucaoglu, Kivanc Semen, Mehmet Yilmaz, and Joshua Cornelius, also participated. Salus, founded in 2022 by Alperen Adikti and Dincer Karaduman, offers therapy and coaching sessions, as well as self-care content tailored for the corporate environment.
UAE-based Venture Capitals Drive Investment Deals in the Middle East
Discover the latest investment deals in the Middle East region as UAE-based venture capitals secure multiple transactions across various sectors.
The Middle East region has witnessed a flurry of investment deals, with UAE-based venture capitals taking the lead. These investments span across various sectors, indicating the growing interest in the region's business landscape.
One notable investment is Dubai-based Wamda Capital's participation in a $4.7 million seed funding round for Turkish health tech startup Salus. This investment aims to revolutionize corporate mental health services, addressing the growing need for mental well-being in the workplace.
Other investors, including 500 Emerging Europe, Pitchdrive, and Is Bank's CVC arm, Collective Spark, have also contributed to this funding round. The participation of angel investors further highlights the potential and appeal of Salus' offerings.
Salus, founded in 2022 by Alperen Adikti and Dincer Karaduman, provides therapy and coaching sessions tailored for the corporate environment. Their self-care content complements their services, ensuring a holistic approach to mental health in the workplace.
Promoting Innovation and Entrepreneurship in the Middle East
Explore how these investments are fostering innovation and entrepreneurship in the Middle East region.
UAE-based Modus Capital has launched eight new startups with a total investment of $2.8 million, as part of their venture builder program. This initiative aims to nurture innovation and entrepreneurship in the region, providing support and resources to promising startups.
The startups include JamaliBox, MDBX, Monet, Oscar, Seva, Sindbad, Stornest, and Your Social Smile. Each of these startups brings unique solutions to the market, catering to various industries and addressing specific pain points.
Modus Capital's venture builder program, backed by a $50 million Venture Builder Fund, not only provides financial support but also mentorship and guidance to help these startups thrive. This investment in innovation is expected to have a significant impact on the Middle East's business ecosystem.
Resilience of the MENA Fintech Sector
Learn about the resilience of the MENA fintech sector and its significant contribution to the region's funding landscape.
Despite a general venture capital slowdown in 2023, the MENA fintech sector has shown remarkable resilience. In the first nine months of the year, it raised $484 million across 66 deals, accounting for 36 percent of all funding in the region.
While seed-stage valuations experienced a decline, series A valuations remained relatively stable. This indicates the maturity and growth potential of fintech startups in the region.
M&A activities have also increased, with the UAE leading the way. This consolidation within the fintech sector further strengthens the ecosystem and opens up new opportunities for collaboration and innovation.
Turkish Health Tech Startup Salus Revolutionizes Corporate Mental Health Services
Explore how Turkish health tech startup Salus is transforming corporate mental health services.
Turkish health tech startup Salus, founded in 2022 by Alperen Adikti and Dincer Karaduman, is making waves in the corporate mental health space. With a recent $4.7 million seed funding round, led by Dubai-based Wamda Capital, Salus aims to revolutionize mental health services in the workplace.
Salus offers therapy and coaching sessions tailored for the corporate environment, addressing the growing need for mental well-being support. Their self-care content provides employees with valuable resources to enhance their overall mental health and productivity.
With the support of investors like 500 Emerging Europe, Pitchdrive, and Is Bank's CVC arm, Collective Spark, Salus is well-positioned to expand its reach and make a significant impact on corporate mental health services.
Fork N Knife: Enhancing Restaurant Delivery Services with Cloud Kitchens
Discover how UAE-based investment firm Your Compass is supporting Fork N Knife's mission to enhance restaurant delivery services.
Cloud kitchen operator Fork N Knife, founded in 2022 by Yassir Nasr-Aldin, is revolutionizing the restaurant delivery industry. With a recent seed funding round of $800,000, including investment from UAE-based Your Compass, Fork N Knife aims to enhance restaurant delivery services without significant investment costs.
The cooking-as-a-service model offered by Fork N Knife allows restaurants to optimize their delivery operations and expand their geographical footprint. By utilizing underutilized kitchen spaces, restaurants can improve efficiency and cater to a larger customer base.
With the new capital, Fork N Knife plans to enter the African and European markets, further disrupting the traditional restaurant delivery model and providing innovative solutions for the industry.
HotDesk and XSPACE Collaboration: Boosting the Flexible Workspace Market in Saudi Arabia
Learn about the partnership between HotDesk and XSPACE and its impact on the flexible workspace market in Saudi Arabia.
Flexible workspace solution HotDesk has announced a collaboration with Saudi Arabia's XSPACE to boost the market in the Kingdom. Through a technical integration partnership, HotDesk will support XSPACE's debut in Riyadh.
HotDesk creates opportunities for businesses with underutilized workspaces to generate additional revenue by subletting their vacant office space as on-demand workspaces. This collaboration with XSPACE will provide more options for professionals and businesses seeking flexible workspace solutions in Saudi Arabia.
By expanding the availability of flexible workspaces, HotDesk and XSPACE are contributing to the growth of the gig economy and supporting the evolving work preferences of individuals and organizations in the region.
WayUp Sports: Empowering the Egyptian Sports Marketplace
Discover how WayUp Sports is empowering the Egyptian sports marketplace through its recent seed funding round.
Egypt-based sports marketplace WayUp Sports has raised a seed funding round led by Beltone Venture Capital and Index Sports Fund. This investment will enable WayUp Sports to expand regionally, improve user experience, and launch its private brand.
With over 70 local and international brands on its platform, WayUp Sports is already making a significant impact in the Egyptian sports marketplace. The funding will further strengthen their position and allow them to offer more diverse and innovative solutions to sports enthusiasts.
WayUp Sports' vision is to connect athletes, sports facilities, and brands, creating a vibrant ecosystem that benefits all stakeholders. Their platform provides a seamless experience for users, making it easier to discover and engage with sports-related services and products.
