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India's menswear brand Snitch has raised USD 40 million in Series B funding to expand its retail presence, targeting over 100 stores by the end of 2025, with a focus on the MENA region and South Asia. The brand plans to introduce new categories such as plus-size apparel and eyewear while exploring quick commerce channels. Founded in 2020, Snitch gained popularity among urban Gen Z men and is now preparing for an IPO after appearing on Shark Tank India Season 2.
UAE SMEs exhibit resilience with a Confidence Index score of 57 in 2024, despite a slight drop from 61 in 2023. Over two-thirds of SMEs view the business environment favorably, with more than 60% reporting revenue growth, although challenges like rising operational costs and corporate tax implementation persist. The Consumer & Retail Services sector leads in confidence, while many SMEs are focusing on innovation and market expansion to navigate the evolving landscape.
Walid Abdul-Wahab, founder of Desert Farms, is revolutionizing infant nutrition with camel milk, leveraging the Middle East's rich heritage while addressing food security. Despite initial skepticism from investors, he emphasizes the importance of scientific backing and storytelling in fundraising. With ambitions to position Desert Farms as a leading infant formula brand, he aims to contribute to Abu Dhabi's emergence as a food innovation hub.
Elon Musk's xAI is aiming for a $113 billion valuation through a $300 million share sale, allowing employees to sell shares to investors. Following this secondary stock offer, a larger investment round is anticipated, with xAI having previously acquired Musk's social media platform, X, for a valuation of $80 billion.
Menswear fashion brand Snitch has successfully raised up to $40 million in a funding round led by 360 One Asset. The company emphasizes its commitment to ethical reporting and transparency, assuring readers that potential conflicts of interest will not compromise the integrity of its coverage.
Meesho's shareholders have approved the issuance of 411.4 crore bonus shares as the company prepares to file its Draft Red Herring Prospectus (DRHP) with SEBI. The SoftBank-backed e-commerce platform aims to raise nearly $1 billion through its IPO by the end of 2025. Meanwhile, rival Flipkart is also gearing up for a public listing.
VinFast plans to manufacture 50,000 electric vehicles annually in India, with ambitions to ramp up production to 150,000 in the coming years. The vehicles will be exported to markets in the Middle East and Africa. The company also aims to hire up to 3,500 local employees by 2030.
Udaan has successfully closed its Series G funding round, raising $114 million. The startup aims to enhance its category and customer reach with the new capital while preparing for an IPO, having received approval from the NCLT for the consolidation of its various business entities into a single entity.
Indian B2B platform Udaan has successfully raised $114 million in its Series G funding round, led by M&G Investments and Lightspeed. The capital will enhance its presence in key sectors like FMCG and HoReCa, while also expanding private label offerings and preparing for a public market listing. With a valuation of $3.1 billion and a 70% market share in India's eB2B space, Udaan exemplifies the maturation of the startup ecosystem, focusing on sustainable growth and profitability.
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.
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Snitch secures 40 million dollars for menswear expansion in MENA region
09:31 03.06.2025
UAE SMEs show resilience amid slight drop in confidence index for 2024
07:56 03.06.2025
camel milk startup desert farms aims to revolutionize infant nutrition globally
03:26 03.06.2025
musk's xai targets 113 billion valuation in 300 million share sale
20:24 02.06.2025
Snitch menswear brand secures 40 million funding led by 360 One Asset
18:33 02.06.2025
meesho plans 411 crore bonus shares ahead of ipo filing
15:51 02.06.2025
VinFast plans to produce 150000 electric cars annually in India
12:34 02.06.2025
Udaan secures 114 million dollars in Series G funding round
10:10 02.06.2025
Udaan secures 114 million dollars in series G funding to expand B2B operations
09:16 02.06.2025
Khwarizmi Ventures launches 120 million fund to support MENA startups
09:13 02.06.2025
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