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Khwarizmi Ventures, a Saudi-based venture capital firm, is launching a second fund of up to USD 120 million to support early-stage startups across the MENA region, focusing on Seed to Series A investments. Managing Partner Abdulaziz Al-Turki views this as a prime opportunity, projecting the number of unicorns in MENA could rise from eight today to 60 by 2035. While prioritizing Saudi Arabia, the fund will also consider startups with expansion plans into the Kingdom.
Udaan has successfully closed a $114 million funding round led by M&G Prudential and Lightspeed Venture Partners, maintaining a flat valuation of $1.8 billion. This round includes a previously announced $75 million investment from the same investors, following a significant 44% drop in valuation earlier this year.
udaan has successfully raised $114 million in its Series G funding round, led by M&G Investments and Lightspeed, with participation from various existing and new investors. This funding reflects strong confidence in udaan's long-term potential and its path towards a public market listing. The capital will be used to enhance udaan's presence in the Fast-Moving Consumer Goods (FMCG) sector and the Hotel, Restaurant, and Catering industries.
Ritesh Agarwal announced a profit after tax of US$72.9 million for FY2024 to FY2025, signaling potential growth for the company. Meanwhile, Hong Kong has overtaken Wall Street as the preferred IPO destination for Chinese firms, driven by geopolitical tensions and liquidity advantages. Notable upcoming listings include Shein, which is eyeing the Hong Kong Stock Exchange after failed attempts in the West, and Oyo, which plans a third attempt to go public with a valuation target of US$6-7 billion.
capitalCORN has successfully advised Uni Seoul on a ₹5 crore seed funding round, led by Sauce VC, a venture capital firm focused on promising consumer brands in India. Founded in 2023 by childhood friends Mohit Khurana and Gaurav Karmani, Uni Seoul is establishing itself in the Korean-inspired lifestyle market.
ITCONS E-Solutions Ltd, a prominent player in India's Staffing and Human Resource Solutions sector, reported nearly 100% revenue growth for FY 2024-25, achieving INR 57.06 crore compared to INR 28.73 crore in FY 2023-24. The company also experienced significant growth in net profit, further solidifying its market position.
D2C fashion brand Snitch has successfully raised $39.6 million in its Series B funding round, led by 360 ONE Asset. The investment will enable the brand to double its offline store presence, venture into quick commerce, and pilot operations in international markets.
UAE start-ups are increasingly adopting ERP systems early in their growth journey, shifting from a "scale fast" mindset to an "infrastructure-first" approach. This strategic pivot enhances operational efficiency, ensures regulatory compliance, and supports scalable growth, allowing founders to build resilient, data-driven businesses from day one. The trend is fueled by the availability of affordable, cloud-based solutions that integrate seamlessly with existing tools, making ERP a competitive differentiator across various sectors.
Out of 17 listed new-age startups on Indian stock exchanges, 11 reported improved profitability for Q4, showcasing better operational performance. Notable companies include Nykaa, Delhivery, and Paytm. In contrast, Swiggy and Eternal experienced worsening financial results due to increased cash burn amid fierce competition in the quick commerce sector.
Uber has successfully rebuilt its business in India post-pandemic, reclaiming its position as the market leader by displacing Ola. Despite this resurgence, the company faces ongoing challenges from smaller competitors, emphasizing the need for continued innovation and vigilance.
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Khwarizmi Ventures launches 120 million fund to support MENA startups
09:13 02.06.2025
Udaan secures 114 million funding round at 1.8 billion valuation
09:06 02.06.2025
udaan raises 114 million dollars in series g funding round
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09:00 02.06.2025
capitalCORN secures 5 crore seed funding for Uni Seoul from Sauce VC
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new-age startups show improved profitability while swiggy and ola struggle
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