by admin | Oct 3, 2024 | Startups News
Saudi Arabia-based adtech platform Quantum has secured funding as part of its $7 million Pre-Series-A round. HearstLab, the investment arm of Hearst Corporation, led the round. This investment marks HearstLab’s first venture in the Middle East, highlighting the region’s growing tech ecosystem.
Quantum’s Innovative Platform
Founded in 2020 by Omar Malaikah and Sara Bin Ladin, Quantum provides a platform that connects advertisers with publishers. It allows advertisers to select publishers and purchase ad space directly. The platform also offers advanced data analytics and ROI metrics to optimize campaign performance. Quantum fills a critical gap in the Middle Eastern market, helping advertisers reach their target audiences effectively.
A Milestone Investment for Saudi Arabia’s Tech Sector
This recent funding from HearstLab strengthens Quantum’s position as a leader in the adtech industry. It also highlights the rapid growth of Saudi Arabia’s tech industry in line with Vision 2030. In addition to HearstLab, Quantum has attracted support from global investors like 500 Global, Vision Ventures, Sukna Ventures, and Tech Invest Com.
This investment showcases Saudi Arabia’s role as a growing hub for technology. Quantum’s founders are driving digital transformation and helping advertisers maximize their digital efforts in a critical e-commerce era.
Strategic Alliance with HearstLab
HearstLab’s partnership with Quantum goes beyond funding. Quantum will gain access to HearstLab’s expertise in media, fintech, and analytics. The company will also benefit from Hearst’s extensive global network. Sara Bin Ladin, Quantum’s CTO, sees this as a strategic alliance that will boost Quantum’s capabilities and visibility.
Omar Malaikah, Quantum’s CEO, expressed pride in being part of Saudi Arabia’s push for technological advancement. He believes this investment underscores the country’s potential as a tech innovation hub.
Expanding HearstLab’s Global Reach
HearstLab has a proven track record in supporting women-led startups. Since 2015, it has invested in over 70 companies globally, with a collective value of over $2.5 billion. Quantum is HearstLab’s entry into the Gulf Cooperation Council (GCC) region, expanding its global reach and supporting innovation in the Middle East.
Quantum: Driving Innovation in the Middle East
Quantum’s technology connects advertisers and publishers, offering solutions that enhance digital advertising. As Saudi Arabia’s digital ecosystem grows, Quantum is set to become a key player in reshaping the advertising landscape. Its focus on data analytics and innovation positions it as a leader in the region’s adtech industry.
by admin | Sep 20, 2024 | Startups News
Algerian-based EdTech startup, LabLabee, raised $3.4 million in a Seed funding round to accelerate its global expansion and enhance its hands-on learning platform. Moreover, the round, which was led by Reach Capital, also saw contributions from Classera, Brighteye Ventures, e& capital, and business angels Cedric Sellin and Mohammed Husamaddin. As a result, this funding marks a significant milestone in the company’s growth.
LabLabee’s Mission and Expansion Plans
Founded in 2021 by Samir Tahraoui and Mahfoud Sidi Ali Mebarek, LabLabee addresses the skills gap in telecom and cloud industries. In particular, their platform offers practical, hands-on training in technologies like 5G, cloud computing, and AI. Additionally, LabLabee’s sandbox environment allows users to learn, practice, and test their skills.
With the new funding, LabLabee will take several important steps:
- Firstly, LabLabee will expand into the U.S. market. By partnering with AWS, Azure, and GCP, the company aims to reach a wider audience.
- Secondly, the company will enhance its course offerings. New training labs for VMware, RedHat, Windriver, and telco security will address emerging industry needs.
- Finally, LabLabee plans to hire new talent. The company will focus on expanding its team in key areas such as engineering, sales, and customer support.
Addressing the Telecom and Cloud Skills Gap
LabLabee is focused on tackling the skills shortage in telecom and industrial sectors. Specifically, the platform offers on-demand labs that cover advanced technologies like 5G, IMS, and Kubernetes. Consequently, these labs help telecom operators and educational institutions integrate practical training into their programs.
This approach not only reduces training costs but also equips learners with real-world skills to stay competitive in the tech industry.
Industry Recognition and Leadership
LabLabee has earned praise from industry leaders. For example, Esteban Sosnik, co-founder at Reach Capital, highlighted the company’s work in solving the telecom skills gap. Moreover, he pointed out the technical expertise of the founders, which has driven LabLabee’s growth.
Similarly, CEO Samir Tahraoui emphasized how their solutions simplify learning. In fact, he believes LabLabee makes it easier and quicker for professionals to keep up with rapid tech changes.
Conclusion
In conclusion, LabLabee’s recent $3.4 million funding round is a key step toward transforming telecom and cloud education. As the company continues to expand into new markets, improve its course offerings, and grow its team, LabLabee is positioned to lead in EdTech. Ultimately, with its innovative approach, the company will shape the future of professional education in telecom and industrial sectors worldwide.
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by admin | Jun 13, 2024 | Startups News
Golden Gate Ventures (GGV), a renowned venture capital firm, made a major move to fuel innovation and entrepreneurship in the MENA region. Their $100 million MENA fund, securing an initial $20 million, marks a significant milestone for the region’s venture capital landscape.
Strong Local Partnerships Drive the Initiative
This venture is propelled by powerful local partnerships. Prominent Qatari entities like Al Khor Holding and the Al Attiya Group, alongside support from Sheikh Jassim Jabor Al Thani, anchor the fund. These partnerships not only bring financial backing but also leverage the deep experience and networks of these established players. Michael Lints, Partner at GGV, highlights, “Their involvement showcases their trust in our vision to build a thriving MENA startup ecosystem.”
Global Expertise of Golden Gate Empowers Local Needs
Golden Gate Ventures, with a proven record of nurturing startups in Southeast Asia, brings invaluable experience to the MENA region. Their expertise in driving innovation within competitive markets positions them perfectly to empower MENA’s burgeoning tech scene. The fund will target high-growth sectors like fintech, edtech, and healthtech, identifying and supporting promising startups with the potential to benefit from digital transformation.
A Region Ripe for Innovation
The MENA region boasts an exciting startup ecosystem fueled by a young, tech-savvy population and increasing internet use. Governments are also implementing policies that support entrepreneurs, creating a prime environment for venture capital investment.
More Than Capital: Golden Gate Build a Robust Ecosystem
GGV’s commitment extends beyond just financial investment. By setting up operations in Qatar, they aim to provide startups with not only capital but also crucial mentorship, strategic guidance, and access to a global network. This comprehensive approach will be instrumental in empowering MENA’s startups to flourish and scale.
in conclusion, The $100 million MENA fund is a giant leap forward for the region’s entrepreneurial journey. With strong local partnerships and GGV’s global experience, this initiative is poised to drive substantial growth and innovation. As MENA’s startup scene grows, ventures like this will be key to its future, giving startups the tools to succeed. It’s more than investment – it’s a belief that MENA can be a global innovation hub.