Main topic: Founders Factory Africa raises $114 million to scale its model and support African tech startups.
Key points:
1. Founders Factory Africa combines venture studio and VC models to support early-stage founders in Africa.
2. The firm has partnered with corporates and impact investors to run programs in healthtech, fintech, and agritech sectors.
3. The raised capital will be used to hire talent, bolster support structures, and provide follow-on funding to existing startups.
Hint on Elon Musk: This article does not mention Elon Musk.
Marqo, a startup using AI and machine learning to improve search, has raised $5.2 million in seed funding. The London and Melbourne-based startup, founded by two former Amazon engineers, has built an end-to-end vector database that helps businesses search and query unstructured data. Marqo's technology has the potential to significantly improve search functionality, particularly in e-commerce, and drive revenue generation for businesses. The funding will be used to enhance the company's technology and expand its sales and marketing teams.
Main topic: Founders Factory Africa raises $114 million to fund African startups and address gender imbalances.
Key points:
1. Founders Factory Africa secures $114 million in funding from Mastercard Foundation and Johnson & Johnson Impact Ventures.
2. The funding will be used to scale the venture studio across the African tech ecosystem, address gender imbalances, and provide non-dilutive capital.
3. Founders Factory Africa's portfolio includes fintech and healthtech companies across 11 African countries.
Main topic: Seedstars' journey to discover and support high-potential startups worldwide, and its investment thesis in emerging markets.
Key points:
1. Seedstars began as a startup pitch competition to identify promising early-stage companies and build tech ecosystems in emerging markets.
2. Seedstars partners with various organizations to build healthy entrepreneurial ecosystems and supports programs in fintech and other sectors.
3. Seedstars International Ventures II invests in startups in pre-seed and seed stages, with a focus on B2B, SaaS, and marketplaces in emerging markets like Latin America. They have raised their second fund with a target of USD $30 million and have invested in companies like Aviva and Jumba.
Main Topic: Dealmaking in the Middle East region
Key Points:
1. Illuminati Capital raised $50 million for its blockchain and Web3-based gaming fund.
2. Saudi Arabia's early-stage VC fund secured a $1.5 million commitment from Jordan's Innovative.
3. Dealmaking in the Middle East region has seen an uptick.
Main topic: Fintech startup Ramp raises $300 million in funding at a post-money valuation of $5.8 billion.
Key points:
1. Ramp secures $300 million in a funding round co-led by Thrive Capital and Sands Capital.
2. The funding will be used to accelerate product development, expand into adjacent categories, and hire significantly.
3. Ramp has experienced strong growth, adding new features and customers, and now serves businesses of all sizes.
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.
Qatar Investment Authority will invest $1 billion for a 1 percent stake in Reliance Retail Ventures, valuing the company at $100 billion. This investment comes after Reliance Retail Ventures raised about $6.4 billion from various investors, including KKR, General Atlantic, and the Saudi Public Investment Fund.
Main topic: Saudi startup FlyAkeed secures $15.2m in a series A funding.
Key points:
1. FlyAkeed, a Saudi travel technology startup, has secured $15.2 million in a series A funding round.
2. The funding was led by Sanabil Investments, a subsidiary of the Public Investment Fund, and saw contributions from Elm Co., Artal Capital, and Al Rajhi Partners.
3. FlyAkeed plans to use the funds to strengthen its presence in Saudi Arabia and the Gulf Cooperation Council countries and develop fintech solutions for travel experiences and cost management.
Main topic: Increasing Saudi Arabian investment in U.S. startups.
Key points:
1. Saudi Arabia-based firms have been participating in a growing number of funding deals with U.S. startups since 2019, with the number of deals increasing each year.
2. Saudi Arabia-based firms have also been leading or co-leading more funding rounds, indicating a stronger investment presence in the U.S. market.
3. Saudi Arabian investors, including funds such as Saudi Arabia's Public Investment Fund and Sanabil, have been actively investing in U.S. startups, with notable investments in companies like Uber and Lucid Motors.
Topic: Zepto, an instant grocery delivery startup, raises $200 million in funding at a valuation of $1.4 billion.
Key Points:
1. Zepto is the first Indian startup to achieve unicorn status this year.
2. StepStone Group leads Zepto's Series E funding, marking its first direct investment in India.
3. Zepto's success is attributed to its strong execution and discipline in managing its supply chain, despite the struggles faced by other delivery startups.
Main topic: Indian grocery startup Zepto raises $200 million in funding at a valuation of $1.4 billion.
Key points:
1. Zepto becomes the first startup in India to cross the billion-dollar valuation mark in nearly a year.
2. The funds were raised from U.S.-based investment firms StepStone Group and Goodwater Capital, as well as existing backers.
3. Zepto plans to use the funds to expand its presence in Indian metros and aims to be profitable in 12-15 months.
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.
Global venture funding in August 2023 reached $22 billion, a 19% increase from the previous month but a 16% decrease from July 2022, with late-stage funding experiencing a year-over-year increase for the first time in 18 months, according to Crunchbase data. However, early-stage funding nearly halved and seed funding was down by around one-third compared to the previous year, while deal counts in August 2023 were almost half of the previous year. The largest fundings were in transportation, sustainability, and biotechnology, and the hope for the startup funding landscape lies in upcoming IPOs of well-funded venture-backed companies.
Despite a decrease in venture capital investments in June, new crypto projects are still attracting funding, including Orbital's $6.4 million raise for expanding blockchain payment infrastructure, unshETH's $3.3 million seed round for decentralized finance solutions, ZTX's $13 million funding for Web3 infrastructure development, Stroom Network's $3.5 million raise for Bitcoin staking, and Fxhash's $5 million funding for its digital art platform.
Venture capital investments in the Middle East have been booming, particularly in deep tech startups focusing on Web3 applications, blockchain, and carbon control, with UAE-based Fuze securing $14 million in seed funding, Cultos Global receiving an undisclosed sum, and Zero Carbon Ventures obtaining $5 million, signaling the region's rising role in innovation and change.
Global venture funding in Q3 2023 reached $73 billion, marking a slight increase from the previous quarter but a 15% decline compared to the same period in 2022, with seed and early-stage funding continuing to decline while late-stage funding increased, particularly in strategic sectors such as semiconductors, AI, electric vehicles, and sustainability. The IPO markets also showed signs of easing, with two venture-backed startups going public in September for the first time in 18 months. Additionally, AI companies raised over $10 billion in Q3, and late-stage funding saw growth outside of North America, particularly in Asia and Europe. However, the global funding slowdown persisted, with a 42% decline year over year in the first three quarters of 2023.
