Tech startups in the UAE secured a remarkable total of $872 million in funding during the first quarter of 2025. This marks an incredible 865 percent increase from the $90.5 million raised in the same quarter of 2024, as well as a substantial 194 percent rise compared to the $297 million raised in the fourth...
dnata, a provider of air travel and ground services, has announced that it is currently working on three major infrastructure projects costing $110 million. This initiative is part of the company’s ongoing efforts to enhance its operations and support the growing needs of the aviation sector. The projects aim to improve facilities and services as...
Small and medium enterprises (SMEs) are crucial to the UAE’s economy, contributing approximately 63.5 percent of the nation’s non-oil economy. The number of SMEs is projected to exceed one million by 2030, up from 557,000 in 2022. However, access to funding has been a significant challenge for these businesses. In response to this issue, a...
Access to funding continues to be a significant challenge for women entrepreneurs in the UAE, as highlighted by a recent study. According to Visa’s Women SMB Digitalization Index, over half (57 per cent) of women-owned businesses in the UAE rely on personal finances to operate, while 43 per cent turn to family and friends for...
UAE-based healthcare payments solutions provider Klaim has successfully secured $10 million in Series A equity funding, along with an additional $16 million in financing. This total investment of $26 million aims to support Klaim’s plans for regional expansion, particularly in the MENA region. The funding will facilitate Klaim’s mission to transform the healthcare financial landscape...
TikTok, in collaboration with Blossom Accelerator, has introduced the ‘TikTok x Blossom SME Empowerment Program’ aimed at supporting young entrepreneurs in Saudi Arabia, with a special focus on women. This initiative is part of Saudi Vision 2030, which emphasizes the importance of small and medium-sized enterprises (SMEs) in boosting the country’s GDP, enhancing youth engagement...
Yashaa Global Capital has officially received the Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to establish a global sports venture capital fund. This milestone positions Yashaa Global Capital as a significant player in the rapidly growing sports investment sector The fund is led by General...
Gecko Robotics is set to double its workforce and robot deployment in the UAE, aiming for a total of 40 to 50 employees and robots, according to CEO Jake Loosararian in an interview with Semafor. The Pittsburgh-based company, which specializes in developing devices and software for inspecting and maintaining critical infrastructure, has recently been valued...
The Tony Elumelu Foundation (TEF) has finalized a strategic partnership agreement worth USD $6 million with the UAE Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation. This collaboration aims to provide business training, mentorship, and access to networks, as well as non-refundable seed capital of $5,000 to an additional 1,000 young...
Egypt may soon receive additional funding from the International Monetary Fund (IMF), according to spokesperson Julie Kozack. The IMF is currently reviewing a new financing program, which could help the country manage its rising economic challenges. Cairo is already benefiting from an $8 billion financing agreement with the IMF, which was expanded in 2022 to...