MEA Tech & Startup Digest: Issue #118

Welcome to the 118th  edition of “The CTO Show’s MEA Tech & Startup Digest”!

Another big week in the world of tech and venture. From fintech reshaping access in Africa to deeptech funding for Francophone innovators, and from Saudi healthtech expansion to massive AI-driven corporate pivots, it’s clear the momentum isn’t slowing. Sovereign wealth funds are fueling the MENA startup boom, global VCs are eyeing Turkey, and AI continues to dominate headlines—from retail floors to regulatory floors. Below is your curated brief across fintech, healthtech, VC moves, gaming, cybersecurity, and this week’s Global Movers update.

Whether you’re one of our 2,580 subscribers or a first-time reader — grab your coffee and let’s dive into what’s shaping tech and venture this week!

Fintech 💸

• Money Fellows Secures $13M for African Expansion: Egypt-based fintech Money Fellows raised $13 million to digitize traditional savings circles, aiming to enhance financial inclusion across Africa, starting with Morocco. Read More
• Attijariwafa Ventures Backs Tunisian Fintech Konnect: Tunisian fintech Konnect Networks secured an undisclosed investment from Attijariwafa Ventures to scale its financial services platform in a multi-investor round. Read More
• Egypt’s i‘SUPPLY Lands $3M Sharia-Compliant Investment: Egypt-based B2B medtech i‘SUPPLY raised $3 million in a pre-Series A round, bringing total funding to $2.5 million to expand its pharmaceutical distribution platform. Read More
• Saudi Arabia’s Erad Raises Pre-Series A Funding: Erad, a Saudi fintech startup, secured pre-Series A funding from Athaal Group to enhance its payment solutions for SMEs, focusing on digital transaction efficiency. Read More 

Healthtech 🩺

• Pakistan’s MedIQ Secures $6M for Saudi Expansion: Pakistan-based healthtech MedIQ raised $6 million in Series A funding to scale its AI-driven healthcare ecosystem in Saudi Arabia, targeting Vision 2030 goals. Read More
• Lagos-Based Platos Health Raises $1.4M Pre-Seed: Platos Health, a Nigerian startup, secured $1.4 million to develop its AI-powered metabolic health platform, aiming to improve healthcare access in Africa. Read More

Ecosystem Development 🤝

• Alchemist Doha & Startup Grind Qatar Partner: Alchemist Doha and Startup Grind Qatar joined forces to strengthen Qatar’s startup ecosystem through global networking and founder-centric programs. Read More
• Jordan’s Sira Expands to UAE for Inclusive Networks: Jordan-based Sira expanded to the UAE, fostering authentic, value-driven professional communities with over $3.6 million in member collaborations. Read More
• MENA’s Startup Boom Fueled by Sovereign Wealth Funds: Sovereign wealth funds are driving a venture capital surge in the MENA region, boosting startup growth and innovation across sectors. Read More

Venture Capital & Investment 💰

• Nama Ventures Secures CMA License in Saudi Arabia: Nama Ventures obtained a CMA license to operate as a fully regulated venture capital firm in Saudi Arabia, enhancing regional investment opportunities. Read More
• Foras Acquires 10% Stake in Canater for $1M: UAE-based logistics startup Canater raised $1 million from Foras for a 10% stake to expand its AI-powered supply chain solutions globally. Read More
• $69M Fund Launched for Francophone Africa Deeptech: A $69 million fund was launched to support deeptech innovation in Francophone Africa, targeting startups in AI, biotech, and cleantech. Read More

Gaming 🎮

• Turkish Startup Dream Games Secures CVC Investment: Istanbul-based Dream Games received strategic investment from CVC Capital Partners to scale its mobile gaming portfolio globally. Read More

Cybersecurity 🔒

• CPX Holding Acquires Spidersilk for Global Expansion: UAE-based CPX Holding acquired Spidersilk to enhance its cybersecurity offerings and drive global expansion in digital protection services. Read More

No-Code & Pharmacy Tech 🛠️

• French No-Code Pioneer Tinkso Secures Investment: Tinkso, a French no-code platform, received strategic investment from South African entrepreneur Henk Pretorius to expand its MEA presence. Read More
• i3 Backs 7 African Pharmacy Startups with $225K: The i3 program invested up to $225,000 in seven African pharmacy startups to improve healthcare supply chains across the continent. Read More

Blockchain & Employment 🌐

• Dealflow Den Returns to Istanbul Blockchain Week 2025: The Dealflow Den will feature at Istanbul Blockchain Week 2025, connecting blockchain startups with investors to drive innovation. Read More
• Jobs Fund Launches Funding for Green & Informal Economies: South Africa’s Jobs Fund opened a new funding round to boost employment in green and informal sectors, supporting tech-driven job creation. Read More

Turkish VC Interest 📈

• Global Funds Eye Turkey’s Tech Scene: Interest from global venture capital funds in Turkey’s tech ecosystem is expected to grow, driven by its vibrant startup landscape. Read More

🌍 Global Movers

🛰️ Apple Shifts to India: $900M in tariffs prompted Apple to scale its India manufacturing, reshaping global supply chains.

📡 Ericsson Goes All-In on 6G: €200M R&D hub launched in Ireland to lead the future of programmable networks.

📉 TELUS Reboots with AI: Shifted 25% of revenue from traditional CXM to AI/data solutions. Betting on digital transformation despite recent losses.

💼 Big Funding Rounds:

·       Chaos Industries ($275M, defense)

·       Persona ($200M, identity cybersecurity)

·       Apex ($200M, space manufacturing)

·       Cast AI ($108M, AI workload optimization)

🧠 NVIDIA’s DAM-3B: New multimodal AI for precise image and video captioning—raising the bar for visual understanding.

🛍️ Retail AI on the Rise: Lowe’s launches in-store AI assistant in 1,700+ locations. AI now walks the aisles.

📊 Strategy Mosaic Debuts: AI-powered BI tool by Strategy Software offers continuous intelligence for enterprises. 

🦯 AI for Accessibility: Tools like Envision’s Ally AI and Nibble Nerds’ Viewpoint make life easier for visually impaired users. 

🌐 VC Trends:

·       April VC funding: $23B (30% in AI)

·       U.S. startups took 62% of global capital

·       DeepTech, ClimateTech, DefenseTech gaining LP interest

💸 New VC Funds:

·       Mainsail’s $1.5B Fund VII (B2B SaaS)

·       Bosch’s €250M DeepTech fund

·       AI Fund II ($190M)

·       RockawayX’s $125M Solana-focused fund

🤝 Major M&A:

·       IBM acquired Hakkoda (AI/data consulting)

·       Qualcomm acquired Movian AI (on-device GenAI)

·       Google-Wiz deal ($32B) still in the works

🚀 IPOs Watchlist:

·       🇮🇳 Ather Energy (EVs): $357M

·       🇺🇸 OMS Energy Tech: $63M

·       Multiple new SPACs filed across NASDAQ

⚖️ Global Regulation Heats Up:

·       EU missed AI Act deadline; DSA lawsuits in progress

·       U.S. faces digital equity backlash amid political infighting

·       TikTok fate still uncertain in U.S. politics 

📡 Geopolitical Tech Moves:

·       SMIC profits surge on China stimulus

·       UK declares China a top cyber threat

·       UAE’s G42 expands into U.S. AI market

📰 Source: Aggregated from BTW Media, Crunchbase, Strategy World, FICO World, Top Tech Tidbits, and more 

🎙️Episodes Recap:

#466 What Founders Miss Most: Moataz Mukhaimer on Strategy, Pricing, and Funding Readiness

In this episode, Mehmet sits down with strategy and finance advisor Moataz Mukhaimer, MBA  , joining from Jordan, to unpack the most overlooked blind spots in early-stage startups. From pricing pitfalls to financial illiteracy, Moataz reveals the top three areas founders consistently ignore—and why getting these right can be the difference between scaling and stalling. A must-listen for any entrepreneur serious about building fundable, resilient companies.

#467 From Engineer to Entrepreneur: Tom Basey on Reinventing Career Paths Through Insurance & Impact

In this episode of The CTO Show with Mehmet , we sit down with Tom Basey  , a former engineer and project manager turned entrepreneur, to unpack what it really takes to pivot from corporate life to a lean, scalable business in an unexpected space—insurance. Tom shares lessons from 30+ years in tech and telecom, why he believes insurance is a smart entry point for aspiring entrepreneurs, and how he’s leveraging digital tools and AI to scale impact without the traditional overhead.

#468 Scaling Smarter: Tyler Dunagin on Building 7-Figure Service Businesses with Purpose

In this episode, Mehmet is joined by Tyler Dunagin , Founder & CEO of Turnserv, a platform powering multiple tech-enabled service brands in the multifamily housing sector. Tyler has scaled five brands to 7-figure revenue, secured private equity backing, and earned a spot on the Inc. 500 list of fastest-growing U.S. companies. From building within arm’s reach to leading with culture and equity, Tyler shares hard-won insights into scaling non-obvious businesses with discipline and purpose. 

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Thank You 🙏: Your engagement drives our shared journey forward. Here's to another week of innovation and growth!

Best, Mehmet