Middle East Startups Secure Major Funding for Proptech and Gaming Ventures
Investor confidence in Middle Eastern startups surges as proptech funding rounds and strategic bets in gaming sector grow.
Riyadh, GCC: Investor confidence is increasing in Middle East startups, particularly in property technology (proptech) funding rounds and strategic investments in the growing gaming industry.
These developments indicate a broader regional trend of supporting ventures that leverage technology to address real-world challenges, such as home ownership, food security, and cultural entertainment.
The initiatives align with Saudi Vision 2030 and the UAE's economic diversification goals.
In one of the largest Series A funding rounds in the Gulf Cooperation Council (GCC) this year, UAE-based fintech Holo has secured $22 million to expand its tech-enabled home-buying platform.
The round was led by Saudi Arabia's Impact46 with participation from Abu Dhabi's Mubadala, Rua Growth Fund, anb seed, and MoreThan Capital.
Other investors included Salica Oryx Fund and Dubai Future District Fund.
Holo aims to use the funds to scale its successful operations in the UAE into the high-growth Saudi market.
Michael Hunter and Arran Summerhill, co-founders of Holo, expressed their belief that home-buying should not be a complicated process.
They plan to leverage their profitability in the UAE to invest ambitiously in high-growth markets like Saudi Arabia.
Basmah Al-Sinaidi, managing partner at Impact46, emphasized how Holo is bringing clarity to an otherwise opaque process by streamlining access to lenders and giving users control over their home financing journey.
Maalexi, a B2B food and agri-trade platform, has secured a Shariah-compliant credit facility of up to $20 million from Amwal Capital Partners.
The initial $5 million tranche will be used to scale operations and integrate thousands of small and medium-sized enterprises into the platform.
This move aims to bolster food security in the UAE and Saudi Arabia by enhancing the capabilities of Maalexi and supporting innovations in digital procurement, storage, and distribution of food.
The gaming industry is also experiencing a surge of activity in Saudi Arabia, reflecting the Kingdom's strategic focus on this sector under Vision 2030.
Impact46 committed $53 million to Kammelna, a studio behind the digitized version of the Saudi card game Baloot, which has achieved over 6 million downloads and boasts 1 million monthly active users.
Indie studio Starvania raised $1.1 million from Merak Capital and Impact46 to enhance production capabilities for PC and console games and support recruitment of top talent.
These investments indicate a growing trend in the Middle East where startups are receiving funding to develop technology-based solutions that address real-world challenges while aligning with regional economic goals.
These developments indicate a broader regional trend of supporting ventures that leverage technology to address real-world challenges, such as home ownership, food security, and cultural entertainment.
The initiatives align with Saudi Vision 2030 and the UAE's economic diversification goals.
In one of the largest Series A funding rounds in the Gulf Cooperation Council (GCC) this year, UAE-based fintech Holo has secured $22 million to expand its tech-enabled home-buying platform.
The round was led by Saudi Arabia's Impact46 with participation from Abu Dhabi's Mubadala, Rua Growth Fund, anb seed, and MoreThan Capital.
Other investors included Salica Oryx Fund and Dubai Future District Fund.
Holo aims to use the funds to scale its successful operations in the UAE into the high-growth Saudi market.
Michael Hunter and Arran Summerhill, co-founders of Holo, expressed their belief that home-buying should not be a complicated process.
They plan to leverage their profitability in the UAE to invest ambitiously in high-growth markets like Saudi Arabia.
Basmah Al-Sinaidi, managing partner at Impact46, emphasized how Holo is bringing clarity to an otherwise opaque process by streamlining access to lenders and giving users control over their home financing journey.
Maalexi, a B2B food and agri-trade platform, has secured a Shariah-compliant credit facility of up to $20 million from Amwal Capital Partners.
The initial $5 million tranche will be used to scale operations and integrate thousands of small and medium-sized enterprises into the platform.
This move aims to bolster food security in the UAE and Saudi Arabia by enhancing the capabilities of Maalexi and supporting innovations in digital procurement, storage, and distribution of food.
The gaming industry is also experiencing a surge of activity in Saudi Arabia, reflecting the Kingdom's strategic focus on this sector under Vision 2030.
Impact46 committed $53 million to Kammelna, a studio behind the digitized version of the Saudi card game Baloot, which has achieved over 6 million downloads and boasts 1 million monthly active users.
Indie studio Starvania raised $1.1 million from Merak Capital and Impact46 to enhance production capabilities for PC and console games and support recruitment of top talent.
These investments indicate a growing trend in the Middle East where startups are receiving funding to develop technology-based solutions that address real-world challenges while aligning with regional economic goals.
