Funding | Page 3

The company will use the funding to double down its focus in the GCC, expand its dealer network to one or two countries in the Middle East and Africa, and supply sources to a few large clients in the US and Europe.

The country's scope of disruptive startups is growing rapidly, and, in recent years, Dubai's own startup ecosystem has witnessed a significant surge in members, from entrepreneurs to investors alike.

Funded by Dubai-based venture studio Enhance Ventures, Joi Gifts is an online gifts marketplace covering the MENAT region.

Zenda, a UAE-based startup aiming to ease how parents in MENA pay school bills with pay-now and pay-later options, has raised US$9.4 million in an oversubscribed seed round.

TruKKer will deploy the fresh funds to deepen its presence across all existing markets and launch several new products and features.

Pluto provides expense management solutions for businesses by offering unlimited smart corporate cards with spend controls which can be used as an alternative to personal cards.

Wa'ed's decision to target later stage funding rounds is a result of 2021 having been a transformational year for the enterprise, said Managing Director Fahad Alidi.

Led by husband-and-wife duo Ben and Neha Samuel, Fit On Click helps corporates and residents in the UAE maintain an active lifestyle by incorporating sports and physical activity in their day-to-day lives.

Staged with the support of Dubai Startup Hub, an initiative of Dubai Chamber of Commerce, as well as Life On Screen, the Enterprise Agility Forum 2022 also played host to the finals of the Dubai Smartpreneur Competition 6.0, which saw three promising startups awarded a total of AED150,000 in prizes.

Its new funding will be used to fuel Calo's expansion into the GCC, recruit talent in different areas, and invest more resources in executing its product roadmap.

GCC-based venture capital firm VentureSouq has announced the launch of its US$50 million venture fund to focus on fintech early-stage entities across the MENA region and Pakistan.

With its new capital, the team aims to accelerate its growth by ramping up customer acquisition, continuing to build their features, and growing the global remote team.

Global Ventures, a Dubai-based venture capital firm, recently held its Annual General Meeting 2021 to bring together its portfolio founders and investors and nurture a community of growth and knowledge-sharing.

With the inflow of fresh capital, the Rebel Foods team has been reported to be exploring an initial public offering within the next two years.

Considered as the first investment by SoftBank in a Saudi startup, it's a commendable feat for the team and their efforts.

"Whenever you start a business, we believe that entrepreneurs should focus on solving a problem."

With the new capital infusion, the team plans to launch its new products such as home insurance, as well as scale the enterprise across the Middle East, starting with Saudi Arabia.

In just over a month, the Emirate's first digital crowdfunding program has successfully assisted its first project, by an Emirati entrepreneur, in raising the required capital to launch his startup, Padel 26.

Through its crowdfunding feature, Dubai Next is looking to allow the community to directly participate in supporting new and enterprising projects, which in turn can promote the growth of enterprises and society alike.

Governments are not only increasing regulation of fintech companies, but they are also actively building new technologies that seemingly compete with them.

This latest round of funding has entailed a total of $28 million raised by Foodics in recent months- a move that is expected to help the firm inch closer towards its goal of becoming the next Saudi unicorn.