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Qatar-based ShipBee has secured $235K in pre-seed funding to develop an AI-powered logistics ecosystem amid a burgeoning entrepreneurial landscape in the Arab world. The Global Entrepreneurship Monitor highlights six Arab nations among the top startup ecosystems for 2024/2025, with the UAE leading globally for the fourth consecutive year, followed by Saudi Arabia and Bahrain. These countries are benefiting from strategic reforms and initiatives aimed at fostering innovation and economic diversification.
Saudi Arabia's SMC has priced its IPO at the top end of the range due to strong investor demand, offering 75 million shares, or 30% of its total capital. The subscription for retail investors will open for two days starting June 15, with shares expected to be listed on the Saudi Exchange after regulatory approvals.CEO Bassam Chahine highlighted this milestone as a testament to SMC's growth strategy and vision, aiming to expand capacity and enhance healthcare delivery in the Kingdom. The IPO proceeds will go to selling shareholders, with the company not receiving any funds raised.
Emotional triggers are increasingly influencing purchase decisions in the MENA region, particularly during Eid Al Adha, with campaigns that evoke feelings boosting sales by up to 70%. The online gifting market is projected to grow from $1.8bn to $6.38bn by 2030, driven by a tech-savvy population and mobile commerce, which accounted for 47% of online purchases in the UAE in 2024. Key gifting trends include a preference for electronics and home goods, with floral gifts, especially peonies, seeing significant sales increases.
Abdul Latif Jameel has partnered with Joby Aviation in a $1 billion deal to introduce electric vertical take-off and landing (eVTOL) aircraft in Saudi Arabia, aiming to deliver up to 200 air taxis. The collaboration will also focus on local operations, pilot training, and maintenance infrastructure, marking a significant step in the Kingdom's transition to sustainable mobility. Joby plans to launch commercial operations in Dubai by 2026, with further regional expansion anticipated.
Kumulus Water, a Paris-based climate tech startup, has secured USD 3.5 million in seed funding to enhance its sustainable water generation technology. The company’s atmospheric water generators (AWGs) convert air into clean drinking water, targeting regions with water scarcity and limited infrastructure. The funding will support the development of Kumulus Boks and facilitate expansion into Saudi Arabia, Europe, and North Africa.
UAE-based investment firm EightClouds has successfully raised USD 20 million in just 11 months, ahead of its planned 24-month timeline. The funds will be used for strategic acquisitions and initiatives targeting scalable consumer-focused brands, particularly in the food, beverage, and hospitality sectors, with a focus on expanding in the UAE and Saudi Arabia. CEO Mark Aitchison emphasized the firm's commitment to building resilient brands that align with evolving consumer trends across the GCC.
The Kuwait Investment Authority has become the first non-founder financial anchor investor in the $100 billion Artificial Intelligence Infrastructure Partnership, which aims to develop scalable AI data center infrastructure globally. This initiative, backed by BlackRock, Microsoft, and other major tech firms, seeks to mobilize up to $30 billion in equity to meet the growing demand for generative AI technologies. KIA's involvement underscores the increasing interest of Gulf sovereign wealth funds in digital infrastructure and aligns with broader national AI strategies in the region.
[Bloomberg]
Joby Aviation has signed a tentative $1 billion deal with Saudi conglomerate Abdul Latif Jameel to distribute up to 200 electric vertical takeoff and landing (eVTOL) aircraft in Saudi Arabia. This partnership marks a strategic shift in eVTOL market entry, allowing Joby to leverage local infrastructure for sales, training, and maintenance, facilitating quicker market penetration. The Middle East is emerging as a key region for urban air mobility, with Saudi Arabia's Vision 2030 plan supporting modernization of transportation infrastructure.
Paytm has launched a subsidiary in Singapore following its expansion into the UAE, aiming to enhance the distribution of its merchant and financial services in Southeast Asia. The company also plans to establish a presence in Saudi Arabia as part of its international growth strategy.
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Arab nations rise as startup hubs amid global uncertainty and regional growth
16:45 04.06.2025
Saudi Arabia's SMC IPO attracts strong demand ahead of retail subscription
16:00 04.06.2025
emotional commerce drives online gifting surge during eid al adha
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Abdul Latif Jameel and Joby Aviation partner for flying taxis in Saudi Arabia
11:32 04.06.2025
Kumulus Water secures funding to expand sustainable water technology in Saudi Arabia
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EightClouds secures 20 million dollars for consumer-focused investments in GCC
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kuwait investment authority joins 100 billion ai infrastructure partnership
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Saad Hariri launches AI investment firm in Abu Dhabi amid political shift
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Joby Aviation partners with Saudi firm for electric air taxi distribution
02:40 04.06.2025
Paytm expands international presence with new subsidiary in Singapore
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