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Motery, a fintech application transforming car buying in Kuwait, has successfully completed its seed funding round, achieving an $8 million valuation. This investment will enhance its online platform, allowing customers to purchase vehicles and access flexible financing solutions from home. Co-founders Abdullah Al-Ateeqi and Eng. Mohammad Al Abdulsalam expressed excitement about accelerating growth and improving the car buying experience in Kuwait's automotive market.
Ninja, a Saudi quick commerce startup founded by Ebrahim Al-Jassim, is in discussions to raise funds at a valuation exceeding $1 billion, with the round potentially closing this month, led by Riyad Capital. Launched in 2022, Ninja has become the largest grocery delivery service in Saudi Arabia and has expanded to Bahrain, Qatar, and Kuwait, recently adding food delivery to its offerings. The company aims for a public listing by 2027 after raising $30 million in a seed round last December at a valuation of $180–200 million.
Mrkoon is enhancing industrial supply chains and promoting the circular economy, positioning itself for growth in sustainable waste management across the MENA region following a recent funding round. Meanwhile, Saudi-based Ninja Express is in talks to secure over $1 billion in funding, aiming for an IPO by 2027, while UAE's Klaim has raised $26 million to expand healthcare payment solutions, enhancing efficiency for providers in the region. Additionally, Qatar has launched a Startup Business Development Grant to support early-stage startups, fostering innovation and economic diversification aligned with its Vision 2030 goals.
Talabat has acquired InstaShop for $32 million, enhancing its grocery and retail division while allowing InstaShop to operate independently. This strategic move aims to improve logistics, customer experience, and market presence in the MENA region's quick-commerce sector. Both companies will leverage their strengths to drive innovation and growth in online grocery delivery.
Talabat has acquired full ownership of the grocery portal InstaShop, enhancing its position in the online grocery market. This strategic move reflects Talabat's commitment to expanding its services and offerings in the region.
Huawei unveiled six scenario-specific solutions for carriers at MWC, aimed at enhancing operational efficiency and generating new revenue through cloud innovation. The solutions include support for FinTech and marketing big data, alongside the launch of the Telco2Techco Cloud Leap Program, which facilitates carriers' transition to tech companies.
Mrkoon is experiencing rapid growth with a 15% month-over-month revenue increase, attracting further investment from A Ventures, which has doubled its stake due to the startup's 20-fold expansion and strong market potential. As Mrkoon prepares to enter the GCC market, focusing on Saudi Arabia and the UAE, it aims to capitalize on the $150 billion scrap and surplus materials market, enhancing its technology and operations with A Ventures' support. In other developments, Saudi-based Ninja is in talks to secure over $1 billion in funding, aiming for an IPO by 2027, while Foras has acquired a 36% stake in Beban Crowdfunding to boost startup funding in the MENA region.
Lebanon's private sector showed steady growth in February, with a PMI of 50.5, supported by increased new business, particularly from abroad. Optimism surged following the election of a pro-reform president, despite ongoing security concerns due to Israel's presence in strategic areas.In the UAE, the non-oil private sector maintained growth with a PMI of 55, reflecting improved business conditions and rising new orders. However, firms expressed caution over intense competition and limited job creation, which could impact future growth.
Lebanon's private sector showed growth in February, with a PMI of 50.5, supported by increased new business, particularly from abroad. Optimism surged following the election of a pro-reform president, despite ongoing security concerns due to Israel's presence in strategic areas. Meanwhile, the UAE's non-oil sector maintained steady growth, with a PMI of 55, reflecting improved business conditions and rising new orders, although challenges like intense competition and limited job creation persist.
At MWC 2025, Huawei unveiled six scenario-specific solutions for carriers, aimed at enhancing operational efficiency and driving revenue growth as they transition from traditional telcos to techcos. The solutions include innovations in FinTech, marketing big data, and AI contact centers, alongside offerings for smart government, education, and cloud phones. Additionally, the Telco2Techco Cloud Leap Program, launched in collaboration with partners, supports carriers in this transformation journey.
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