MEA Tech & Startup Digest: Issue #74
Mehmet Gonullu
Igniting Tech & Venture Ecosystems | Startup Advisor & Mentor | Investor | Podcast Host | Keynote Speaker
Welcome to the 74th edition of " The CTO Show's MEA Tech & Startup Digest" Weekly Newsletter! If you're new here, I extend a warm welcome to you, joining our dynamic community of 1955 subscribers across LinkedIn and Beehiiv. Your presence, whether as a first-timer or a loyal follower, is the heartbeat of this platform dedicated to unfolding narratives in tech, startups, and entrepreneurship.
What is inside?
- Weekly Startup Insights From Middle East, Türkiye & Africa
- Episodes Recap
- Useful Resources
Let's not wait any longer and dive into this week's rich insights!
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🌍 Regional Investment Highlights & Startup Insights:
Investment News
Bokra’s Swift Expansion Post-Launch
Egyptian investtech startup Bokra is rapidly expanding to Saudi Arabia and the UAE after raising $4.6 million in pre-seed funding. The startup aims to revolutionize wealth management in the MENA region with its asset-backed securities and goal-based investment products.
El Kheta Receives $400K Investment
Egyptian edtech platform El Kheta has secured a $400,000 investment from EdVentures. The platform offers customizable educational content aligned with the Egyptian curriculum and aims to scale operations and expand its educational offerings.
Market Trends
Dipping Venture Capital in MENA
Venture capital investments in MENA startups dropped significantly in 2023, with the number of deals decreasing from 864 to 654. Despite this, a rebound is expected in 2024 due to favorable economic conditions and lower interest rates.
African Startup Funding Declines
In H1 2024, African startups raised $780 million, a 57% year-on-year decline. The majority of the funding went to Transport & Logistics, with Kenya receiving a third of the total investments.
Acquisitions & Partnerships
Recommended by LinkedIn
CoinDCX Acquires BitOasis
India-based crypto exchange CoinDCX has acquired UAE’s BitOasis, MENA’s largest crypto trading platform, to enhance its regional presence. The acquisition will support BitOasis in expanding services and regulatory compliance across MENA markets.
Jeel Attracts New Investment
Saudi Arabia’s edutainment platform Jeel raised a seven-figure investment from RZM Investments and angel investors. The funds will be used to expand the app with additional languages, increase user engagement, and enter new regional markets.
🎙️Episodes Recap:
In this episode of “The CTO Show with Mehmet,” we are joined by Arnaud Lucas , the CTO of Wanderu, a small startup focused on e-commerce solutions for ground transportation in North America. Arnaud, originally from France, shares his extensive experience in the tech industry, having worked with both startups and large companies like Iron Mountain, TripAdvisor, and Wayfair before returning to the startup world.
In this episode of the CTO Show with Mehmet, we are joined by Jafar Shunnar , co-founder of TAP, a groundbreaking career acceleration platform based in Palestine. Jafar delves into his inspiring journey and the mission of TAP to bridge the job gap for high-potential youth in Palestine and Jordan by connecting them with global startups. He sheds light on the unique challenges faced by educated youth in the MENA region and how TAP addresses both talent readiness and company needs.
In this episode of the CTO Show with Mehmet, we are joined by Isar Bhattacharjee , an expert in people and organizational psychology. Isar discusses his journey and why he chose to focus on startups, especially those in rapid growth stages. He explains the evolution of HR from traditional roles to performance-focused approaches and introduces the concept of organizational debt, comparing it to technical debt.
🔗 Useful Resouces:
- iAccel Gulf Accelerator: iAccel Gulf Business Incubator (“iAccel GBI”) is a Global Accelerator Network (GAN) certified accelerator that aims to help early-stage tech startups turn their innovative ideas into successful businesses in MENA Region.
Connect & Grow with Us
Thank You 🙏: Your engagement drives our shared journey forward. Here's to another week of innovation and growth!
Best, Mehmet