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Lucid Group, Inc., backed by the Saudi Public Investment Fund (PIF), has successfully closed a significant $1.1 billion offering in convertible senior notes due in 2030. This closing includes the full exercise of an option that allowed initial purchasers to acquire an additional $100 million in notes, as stated in an official announcement. Taoufiq Boussaid,...
Dubai-based fintech startup Fuse has successfully raised US$6.6 million in seed funding, aiming to tackle payment challenges for businesses looking to enter the Middle East and North Africa (MENA) region. The funding round was led by Northzone, with additional contributions from Flourish Ventures, Alter Global, and notable angel investors such as Flutterwave CEO Olugbenga Agboola...
UAE-based healthtech company Valeo Health has successfully raised $12 million in its Series B funding round, increasing its total funding to $20 million. This announcement was made in a recent press release, highlighting the company’s strong position in AI-driven healthcare solutions. The funding round was led by Flintera, with participation from existing investors including Nuwa...
UAE-based gametech startup PlaysOut has successfully raised US$7 million in a seed funding round, which has resulted in a company valuation of US$70 million. This funding will help PlaysOut enhance its offerings and expand its market presence. The investors participating in this funding round include notable names such as OKX Ventures, KBW Ventures, and Pacific...
Yango Group, a global technology firm, has introduced Yango Ventures, a corporate venture fund aimed at empowering young entrepreneurs across high-growth regions, including LATAM, Sub-Saharan Africa, and MENAP. This initiative is designed to boost local innovation and entrepreneurial growth by offering both capital and access to Yango Group’s extensive experience and network, enabling startups to...
NymCard, the only embedded finance platform operating in over 10 countries across the MENA region, has successfully raised $33 million in its latest Series B funding round. This investment was led by QED Investors, marking their largest investment in the region and the first in the Gulf, which highlights the increasing global confidence in MENA’s...
The Abu Dhabi Investment Authority (ADIA) is enhancing its focus on Artificial Intelligence (AI) by participating in a $200 million seed funding round for a US-based firm specializing in life sciences called Lila Sciences. The financial specifics of this investment, which was made through a wholly owned subsidiary of ADIA, have not been disclosed. Lila...
UAE-based wellness company Longevity Wellness Hub has successfully raised US$4 million from undisclosed investors. This funding will facilitate the company’s expansion across the Gulf Cooperation Council (GCC) region. Founded in 2019 by Dani Afiouni, Longevity Wellness Hub offers a range of services, including hyperbaric oxygen therapy, red light therapy, and quantum diagnostics. The company plans...
Phoenix Venture Partners Ltd. has announced the successful first close of its private placement for the Phoenix Venture Partners Innovation Fund CEIC Ltd. The fund has raised its initial capital from a diverse group of professional investors, which includes family offices and high-net-worth individuals. The capital raised will be utilized to invest in promising early-stage...
UAE-based healthtech company Klaim has successfully raised $26 million to enhance its payment solutions for the healthcare sector. The funding includes $10 million from a Series A equity round, supplemented by an additional $16 million in financing. The newly acquired funds will facilitate Klaim’s expansion into markets such as the UAE, Saudi Arabia, and Oman....