by admin | Aug 23, 2024 | Startups News
Lahore-headquartered startup PostEx has raised $7.3 million in a pre-Series A round, led by Dubai-based Conjunction Capital. Consequently, this new funding brings the total to around $16 million. Investors include Dash Ventures, Sanabil500, and existing supporters such as VentureSouq, FJ Labs, and Zayn VC.
PostEx: Evolution from Logistics to Financial Solutions
Founded in 2020 by Omer Khan, Saad Mahmood, Babar Razzaq, and Adil Naseem, PostEx started as a third-party logistics provider for e-commerce. It has since evolved to offer Shariah-compliant, non-dilutive financing, leveraging data from its logistics services.
To date, PostEx has loaned $90 million to over 8,000 businesses, quickly converting recurring revenue into instant capital, though specific loan details are not provided on their website.
Strong Market Position and Future Plans
ostEx has shown strong performance with an annual revenue run rate of $21 million and over four million transactions monthly. It has been profitable for several months and strengthened its position by acquiring Call Courier, a leading e-commerce logistics firm in Pakistan.
Looking ahead, PostEx plans to use its latest funding to expand into MENA, starting with Saudi Arabia. A pilot is underway, and the company aims to secure a local license for its financing solutions. In the UAE, PostEx has already obtained a license and is preparing for a future launch.
Insights from Leadership
Muhammad Omer Khan, CEO of PostEx, said, “Traditional banks often fail digital entrepreneurs. PostEx provides essential growth capital through our logistics solution.”
Conclusion
PostEx’s recent funding round marks a pivotal moment for the startup as it gears up to broaden its reach across MENA. With a strong foundation and a clear vision for the future, PostEx is set to transform e-commerce financing and support the growth of digital businesses in the region.
Stay tuned for more updates and insights on the latest developments in fintech and logistics. For further details, visit kzaad.com.
by admin | Aug 21, 2024 | Market Trends
Singapore-based Gate Ventures, the venture capital arm of Gate.io, and the Blockchain Centre in Abu Dhabi have launched Falcon Gate Ventures, a $100 million fund aimed at accelerating Web3 innovation. This collaboration is set to transform decentralized infrastructure and applications worldwide.
A Strategic Partnership for Global Impact
Falcon Gate Ventures represents a significant alliance between two industry leaders. it offers deep expertise in blockchain, while the Blockchain Centre excels in Web3 technologies. Consequently, this partnership will scale blockchain projects across key regions, including the USA, Asia, Europe, and MENA.
Key Pillars of Falcon Gate Ventures
- Global Coverage: Primarily, the fund targets high-potential projects worldwide, focusing on breakthroughs in the Middle East, Asia, and the US. Thus, this Ventures will lead the digital revolution.
- Economic Impact: Furthermore, it stimulates growth within the Web3 ecosystem. By boosting economic development, it also reinforces the UAE’s role as a central hub in the global digital economy.
- Regulatory Commitment: Additionally, the fund collaborates with international regulators to create frameworks that both foster innovation and ensure user protection. This is crucial for the sustainable growth of Web3 technologies.
The Vision Behind Falcon Gate Ventures
it aims to scale high-potential blockchain projects. Abdulla, CEO of the Blockchain Centre, emphasized Gate Ventures’ expertise and innovative approach. Likewise, Kevin Yang, Managing Partner at Gate Ventures, noted that this fund is a pivotal step in advancing global blockchain innovation.
Driving Blockchain Innovation Globally
Falcon Gate Ventures intends to:
- Foster Innovation: To start with, the fund will accelerate blockchain solutions by supporting innovative projects and startups around the world.
- Support Education and Research: Additionally, it will invest in education and research to develop a skilled global workforce.
- Facilitate Collaboration: Finally, it will promote international partnerships, enhancing technological advancement and economic development.
Conclusion
In conclusion, Falcon Gate Ventures is not merely a fund; it is a strategic initiative designed to drive Web3 innovation and advance the global digital economy. By focusing on fostering innovation, supporting education, and encouraging cross-border collaboration, Falcon Gate Ventures will play a pivotal role in shaping the future of blockchain technology.
by admin | Aug 14, 2024 | Market Trends
Startup funding in the Middle East and North Africa (MENA) region witnessed a remarkable surge in July 2024. Notably, investments soared to USD 355 million, reflecting a dramatic 206% increase from the previous month and a 260% rise compared to July 2023. Consequently, this unprecedented growth highlights the burgeoning opportunities within the MENA startup ecosystem.
Key Highlights
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Egypt Takes the Lead
Firstly, Egypt emerged as the standout performer in July, securing USD 185 million across seven deals. This impressive figure not only eclipsed the USD 15 million raised in the previous month but also underscores Egypt’s rising prominence in the regional startup landscape.
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Sector-Specific Investment Trends
- Fintech: Dominating the investment landscape, the fintech sector attracted USD 180.8 million. This demonstrates its continued appeal to investors.
- Web 3: Following closely, Web 3 startups secured USD 85 million. This reflects the growing interest in decentralized technologies.
- Cleantech: Meanwhile, with a focus on sustainable solutions, the cleantech sector raised USD 37 million.
In addition, other notable sectors included deeptech, with USD 20 million, and e-commerce, which garnered USD 15.7 million.
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Regional Investment Distribution
The UAE led the region with 12 deals, thus setting a benchmark in startup investments. Furthermore, Egypt and Saudi Arabia each secured seven investments, while Jordan rounded out the top with six deals. This distribution illustrates a diverse and expanding investment landscape across the MENA region.
Conclusion
In summary, the surge in startup funding in the MENA region during July 2024 underscores a vibrant and rapidly evolving market. With Egypt leading in investment value and fintech emerging as the most attractive sector, the region is poised for continued growth and innovation. As startups across the MENA region continue to attract significant investments, the future looks promising for entrepreneurs and investors alike.
For more insights into the latest developments in the startup ecosystem, visit kzaad.com and stay tuned for daily updates.
by admin | Aug 7, 2024 | Startups News
Saudi startup Blend has recently secured USD 1.3 million in a pre-seed investment round. Notably, this funding, provided by a group of angel investors, will significantly boost the company’s growth. Consequently, Blend plans to expand into Kuwait and Bahrain by the end of next year. Furthermore, the company aims to extend its reach across the Gulf region by 2026.
Innovative Food Delivery Integration
Founded in 2023 by Omar bin Sultan Al-Lahyan, Blend is revolutionizing the food delivery industry. Specifically, the company offers a platform that integrates multiple food delivery services into a single interface. As a result, restaurant owners benefit from streamlined order management, efficient item tracking, and comprehensive reporting. Additionally, Blend has already partnered with five local delivery apps, further enhancing its market presence.
Market Growth and Expansion Plans
Blend’s strategic vision aligns closely with Saudi Arabia’s Vision 2030, which emphasizes economic diversification and technological advancement. According to Al-Lahyan, “The sector is substantial, and our platform provides a unique understanding of the real challenges and technical needs of business owners dealing with delivery apps.” Moreover, with 30% of potential customers yet to engage with delivery apps, Blend anticipates significant market growth.
Support and Recognition
The company’s journey has been marked by notable achievements in startup support. For instance, Blend has graduated from prestigious programs such as the Misk Accelerator and the MVPLab Accelerator of the National Program for Information Technology Development. In addition, Blend is present in the Intelligence Center of Manshaat, further highlighting its commitment to innovation and excellence.
Looking Ahead
As Blend continues to expand its footprint in the Gulf region, it remains dedicated to enhancing the food delivery experience for restaurant owners. By consolidating multiple delivery platforms, Blend is poised to play a pivotal role in shaping the industry’s future.
Therefore, stay tuned for more updates on Blend’s progress and other exciting developments in the startup ecosystem. For further insights and the latest news, be sure to visit kzaad.com
by admin | Aug 6, 2024 | Startups News
SANDBOX’s Fourth Cohort Achievements
SANDBOX, the Accelerator programme dedicated to the growth of tech startups and a key initiative of Oraseya Capital, has proudly concluded its fourth cohort. As part of Oraseya Capital, which operates under the Dubai Integrated Economic Zones Authority (DIEZ), SANDBOX attracted over 1,500 applications. Consequently, seven technology startups received significant investment, with each startup awarded AED 570,000 (USD 150,000) following their success in the programme.
Milestones and Strategic Importance
Hassan Waheed, Vice President of Corporate Finance and Treasury at DIEZ and Partner at Oraseya Capital, commented, “We are incredibly proud of the milestones achieved by Oraseya Capital in startup investments, especially given the few months since its launch at the end of 2023. The substantial interest in the SANDBOX programme, combined with the many innovative and ambitious projects, highlights the strategic importance of this initiative in fostering the growth of small and medium-sized enterprises across various sectors.”
Investment in Promising Startups
Furthermore, Waheed emphasized, “Oraseya Capital has invested in startups demonstrating significant growth potential, characterized by creative ideas and innovative visions. As we aim to transform the advanced technology sector, we look forward to achieving new milestones that align with our efforts to enhance Dubai’s competitiveness as a prime destination for global investments.”
In addition to these new investments, Oraseya Capital has taken a leading role in an investment round for Growdash, a Dubai-based SaaS platform that empowers restaurant marketing and operations. Moreover, Oraseya Capital has participated in several investment rounds for startups such as RemotePass, an HR tech-platform for managing remote teams, and iSchool, an EdTech startup focused on upskilling youth with digital capabilities.
The Startups of SANDBOX’s Fourth Cohort
The seven startups that received funding from SANDBOX’s fourth cohort are:
- Qureos: A recruitment tech startup that matches talent with jobs 10x faster.
- Herogo: A sustainable food tech subscription platform for fruits and vegetables.
- Lisan: A deeptech generative AI startup specializing in Arabic linguistics.
- Sthrive: A B2B SaaS platform for retailers aimed at boosting sales and employee performance.
- Zoya: A fintech startup simplifying halal investing for Muslims worldwide.
- JobEscape: A productivity startup enhancing freelancers and employees’ skills with AI tools.
- Opteam: A startup leveraging AI-driven optimizations for project management in the construction sector.
Success Stories and Testimonials
Saad Malik, Co-founder and CEO of Zoya, stated, “SANDBOX provided an invaluable foundation for Zoya. The mentorship and supportive community empowered us to refine our startup and prepare for the next stage of our journey. We’re excited to apply these insights as we move forward.”
Similarly, Alex Epure, CEO and Co-founder of Qureos, added, “The SANDBOX Accelerator programme is exceptionally well-structured and adds significant value. Being backed by Oraseya Capital also means the potential for future investment rounds, which is not always the case with other programmes.”
Programme Structure and Benefits
The SANDBOX programme spans five months, divided into two phases. Initially, the “Evaluation Phase” lasts for 8 weeks, culminating in a pitch to the Investment Committee of Oraseya Capital. Successful startups then enter the 3-month SANDBOX Accelerator programme, each receiving an investment offer from Oraseya Capital. This programme emphasizes a mindset of experimentation, focusing on revenue-generating activities and further fundraising efforts.
Startups benefit from over 50 hours of workshops covering financial analytics, marketing strategies, and legal compliance. Additionally, entrepreneurs receive more than 30 hours of mentoring from industry experts and have opportunities to network with regional investors.
Looking Ahead
Looking ahead, the fifth edition of SANDBOX will begin in September 2024 and has already received more than 1,100 applications. This continued enthusiasm underscores the programme’s growing impact and success.
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