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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....
42 Abu Dhabi has entered into a Strategic Collaboration Agreement with the Abu Dhabi National Oil Company (ADNOC) to empower young Emirati coders by providing them with practical experience in energy industry applications. This initiative aligns with the UAE’s National Strategy for Artificial Intelligence 2031, aiming to equip local talent with essential coding skills for...
The UAE recently held AI Pandora: The Mystery Box Challenge at GEMS Cambridge International Private School in Sharjah. This significant event was organized by Meritus AI in partnership with PedTech Global, and it attracted over 35 schools, 70 teams, and more than 200 participants who showcased their skills in artificial intelligence (AI). The AI Pandora...
Dubai South, the largest single-urban master development in the areas of aviation, logistics, and real estate, has entered into a partnership with UPS, a leading global logistics company. This agreement aims to establish a new facility within Dubai South’s logistics district, enhancing the region’s capabilities in supply chain and logistics services. The new facility is...
AiVANTA, a Mumbai-based leader in marketing technology specializing in AI-powered personalized video solutions, has announced its expansion into Dubai. This strategic move is seen as a significant milestone for the company and aligns with the UAE’s efforts towards digital transformation. The expansion aims to strengthen AiVANTA’s presence in a region known for its innovation-driven economy...
Abu Dhabi Global Health Week (ADGHW), held under the patronage of H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has announced the launch of a Startup Zone and Smart Health Hackathon. These initiatives aim to provide researchers and health startups with...
Dubai-based venture builder Disrupt.com has announced a fund of US$100 million aimed at supporting technology startups that focus on artificial intelligence globally. This initiative is designed to foster early-stage ventures across various sectors, including AI, cybersecurity, Web 3.0, automotive technology, and retail innovation. Founded by Aaqib Gadit, Uzair Gadit, and Umair Gadit, Disrupt.com is specifically...
The Future 100 initiative, a collaboration between the Ministry of Economy and the Office of Government Development and the Future, has unveiled the Future 100 – 2024 list. This list highlights 100 of the most promising startups and scaleups based in the UAE that significantly contribute to the competitiveness of the country’s future economy. The...
Egypt-based fintech company MNT-Halan has announced its expansion into the UAE, marking a significant growth phase for the unicorn startup. Co-founder Mounir Nakhla emphasizes that the company has only begun to tap into its full potential, highlighting the mission to redefine financial access for millions. Founded in 2018, MNT-Halan originally launched as a ride-hailing platform....