Author: Mahdeehassan
Simplex, a rising startup in the field of CNC machine manufacturing, secures $13 million as part of Saudi efforts to support and localise advanced industries within the Kingdom. Simplex will use the fund to open a huge factory, which is set to be built on a 20,000 square meter site in Riyadh, the Saudi capital, and will be dedicated to producing advanced CNC machines. Simplex signed a memorandum of understanding with Saudi Arabia’s National Industrial Development Centre to establish the company’s first factory within the Kingdom of Saudi Arabia. The announcement was made during a signing ceremony attended by Eng.…
This year’s edition proved another roaring success in the UAE On the 14th of January, iFX EXPO Dubai 2025, MENA’s #1 online trading industry event, kicked-off its remarkable 2+ days of FX & Fintech showcases. Global industry leaders gathered to build lasting relationships, find the right business partner, discover innovative products and services, and expand their online trading knowledge through educational panels. iFX EXPO Dubai 2025 attracted a record number of attendees who leveraged the event to capitalise on invaluable business opportunities. The total attendance rose to 7.5K, a 48% increase from 2024. 45% more brokers secured strategic partnerships. 30%…
Mintiply Capital, a leading advisory and investment banking firm in the UAE renowned for its expertise in M&A, complex deals’ structuring and alternative investments, proudly announces an exclusive partnership with Fuel Venture Capital, a prominent U.S.-based venture capital firm. This collaboration aligns with the UAE’s vision of fostering a robust startup ecosystem and driving innovation as a cornerstone of the nation’s economic growth. Through this partnership, Mintiply and Fuel will harness the power of a dedicated Special Purpose Vehicle (SPV) that targets high-potential startups across the GCC region and the UAE in particular. The SPV will focus on early-stage companies…
The Eco-friendly ride option supported by the TGA will enable customers to contribute to carbon removal efforts through MEWA’s tree-planting initiatives powered by the Sedrah Program. Riyadh, Saudi Arabia – January 2025 – CarbonSifr, a pioneering climate-tech company and a participant in the inaugural Sedrah Program under MEWA (Ministry of Environment ,Water and Agriculture) and Careem Rides, focused on facilitating everyday reliable and convenient commuting options for the region through the Careem app, are announcing the launch of Careem’s Eco-friendly ride option in Saudi Arabia with support from the Transport General Authority (TGA) and MEWA’s Sedrah Program. Eco-friendly rides, launched…
Saudi beauty e-commerce giant Nice One has announced the successful pricing of its initial public offering (IPO) at SAR 35 per share, the top end of its range. The IPO has attracted overwhelming interest, with institutional investors placing orders exceeding SAR 169 billion ($45 billion), representing an oversubscription of 139.4 times. This IPO positions Nice One with a market capitalization of over SAR 4 billion ($1.06 billion) and marks a major milestone for the beauty and personal care e-commerce sector in Saudi Arabia. Details of the IPO Nice One is set to raise $322 million by offering 34.65 million shares, equivalent to…
HUAWEI AppGallery and the Emirates Esports Federation (EESF) proudly announced the signing of a landmark Memorandum of Understanding (MoU) to drive innovation and growth in the esports and mobile gaming ecosystem across the region. The MoU was officially signed by His Highness Sheikh Sultan Bin Khalifa Bin Sultan Bin Shakhboot Al Nahyan, President of the Emirates Esports Federation, and William Hu, Managing Director of Huawei Consumer Business Group, Middle East and Africa Eco Development and Operation, marking a pivotal step towards fostering collaboration and enhancing opportunities in one of the world’s fastest-growing gaming markets. By leveraging Huawei’s technological expertise and…
Dubai, UAE – MERED, an international real estate developer, is proud to announce its recognition in the category of Residential High Rise Architecture for its flagship project, ICONIC Residences, designed by Pininfarina, at the Arabian Property Awards 2024-2025, a part of the prestigious International Property Awards. This globally renowned accolade celebrates the project’s unique architectural design and MERED’s strong commitment to shaping future urban developments. The Arabian Property Awards represent a benchmark of excellence in the property and real estate industry, judged by a panel of highly experienced professionals covering all aspects of property disciplines. Winning this award highlights ICONIC Residences as…
OmniOps, the first Saudi Arabia-based AI Infrastructure Technology provider, announced today the successful closure of a SAR 30 million (approximately $8 million) funding round from GMS Capital Ventures. This strategic anchor investment provides the company with the resources to scale its operations, enhance R&D, and advance AI infrastructure in Saudi Arabia. Founded in 2024 and led by Saudi entrepreneur Mohammed Altassan, along with a strategic board of directors including Zaid Farekh serving as a tech advisor and board member, OmniOps is uniquely positioned to address the increasing demand for AI technologies across the Kingdom. The company specialises in building and…
UAE-based venture capital firm Iliad Partners has announced the launch and first close of its $50 million Iliad Partners Tech Ventures Fund I. The Iliad Fund will invest in early-stage B2B software startups driving digitisation and innovation in target verticals including fintech, logistics, and proptech at the Pre-Series A and Series A stages in MENA, with a primary focus on Saudi Arabia and the UAE. It will also allocate 10% of the fund to Europe, with a focus on Greece, to support startups expanding into MENA. The fund is backed by prominent regional and global investors, including the Jada Fund…
eyewa, the region’s largest and fastest-growing eyewear retailer, has raised $100 million in its Series C funding round, led by General Atlantic, a leading global growth investor, and with participation from Badwa Capital and Turmeric Capital. The capital will play a pivotal role in eyewa’s future plans and ambitions to maintain and solidify its status as a regional leader in the eyewear retail space. It has allocated portions of the proceeds for investment in R&D and talent acquisition, in addition to the opening of at least 100 new stores in 2025. The expansion of eyewa’s already robust footprint, which includes…