Saudi startup FlyAkeed secures $15.2m in a series A funding

Saudi startup FlyAkeed has raised $15.2 million in a series A funding round led by Sanabil Investments, with participation from Elm Co., Artal Capital, and Al Rajhi Partners. The travel technology startup plans to use the funds to strengthen its presence in Saudi Arabia and the Gulf Cooperation Council countries, as well as develop fintech solutions for user experiences and cost management tools for business trips.

arabnews.com

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9/2/2023

The impact of entertainment ventures on Saudi Arabia’s economy

Startups in the Middle East and North Africa region have attracted significant investor interest, with MENA startups raising over $76 million in August 2023 and accounting for two of the three exits recorded in the region, indicating its growing role in the global startup ecosystem, although the first half of the year saw a decline in capital attracted compared to the previous year. Additionally, PIF's Jada Fund of Funds Co. has committed to Aliph Capital's GCC fund to support SMEs in Saudi Arabia, and UAE fintech MALY has raised $1.6 million in pre-seed funding. Furthermore, Rewaa, an inventory management platform, has raised $27 million in a Series A funding round led by Wa'ed Ventures.

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Saudi Startups Attract Over $60M in Venture Funding Across Construction, Food Delivery, Fintech and Logistics

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