RIYADH: Startup and investment activity accelerated across the Middle East and Africa over the past seven days, with fresh funds reaching final close, founders securing new capital, and new platforms targeting healthcare, climate, finance, property and digital commerce. 

Phaze Ventures launches two AI funds 

Oman’s Phaze Ventures launched two investment funds targeting more than $75 million combined, with over $40 million already committed to backing artificial intelligence startups in Oman and international markets. 

Fund II is backed by ITHCA, Ominvest and Oman LNG Development Foundation, while the Oman-focused vehicle is supported by Future Fund Oman. Phaze has already disclosed five AI investments. 

ABA Life secures $40m for healthcare expansion 

Morocco-based ABA Life signed a $40 million investment agreement with Admaius Capital Partners, subject to closing conditions and approval from the Moroccan Competition Council. 

The company plans to scale its healthcare technology and clinical services, including its Mediot platform, while expanding internationally under a strategy combining artificial intelligence, medtech, telemedicine and connected infrastructure. 

BY Venture Partners closes $60m third fund 

UAE-based BY Venture Partners closed its third fund at $60 million, lifting assets under management above $200 million. Dubai Future District Fund anchored the vehicle alongside regional family offices and strategic investors. 

The fund will invest up to $1 million in AI-native startups from pre-seed to Series A. It has already backed 15 companies and is targeting a 40-company portfolio. 

Tanmiya Capital reaches $130m final close 

Egypt’s Tanmiya Capital Ventures closed its second fund at $130 million, exceeding its $120 million target.

The European Investment Bank committed $37.5 million, alongside IFC, EBRD, MSMEDA and other investors. 

The growth-equity fund expects to build a portfolio of six to eight established Egyptian companies across healthcare, training, fintech, consumer goods, logistics and transport, with a focus on expansion and stronger governance. 

GreenShift backs 12 Egyptian climate businesses 

Twelve businesses graduated from the GreenShift accelerator after securing a combined 57.5 million Egyptian pounds ($1.03 million) in investment. Nahdet El-Mahrousa implemented the program with GIZ, backed by European and German funding. 

The cohort spans climate technology, recycling, sustainable materials and waste management. GreenShift received 1,353 applications, trained 46 fellows and helped eight of the selected businesses progress through licensing requirements. 

NoorNation raises $1.05m seed round 

Egyptian climate-tech startup NoorNation raised $1.05 million from Linah Farms, Catalyst Fund and KBW Ventures.

Linah joined as an investor after deploying the company’s clean-energy systems across its operations. 

Founded by Ragy Ramadan and Mohamed Khaled, NoorNation develops decentralized energy and water infrastructure.

The capital will help expand manufacturing, regional deployment and pay-per-use solar irrigation for diesel-dependent farmers. 

Nclude Fund closes above $112m 

DPI Venture Capital closed the Nclude Fund at more than $112 million for technology companies across Africa and the Middle East, with Egypt remaining its core market and 30 percent available elsewhere. 

The fund invests between $500,000 and $10 million from seed to Series C across fintech, financial inclusion, AI and technology-enabled businesses. Its 15 investments include Paymob, Nawy and Money Fellows. 

Doha prepares for Downtown Tech Summit 

The Downtown Tech Summit will return to Barahat Msheireb in Doha on Nov. 17, bringing together founders and investors to examine regional scaling, disruption and emerging technology. 

Speakers include Wamda Capital founder Fadi Ghandour and Snoonu founder Hamad Al-Hajri, alongside investors Khaled Talhouni and Soumaya Ben Beya Dridje. The program includes the Azal Innovation Program finale. 

Ajman launches Thara entrepreneurship ecosystem 

Ajman Chamber introduced Thara, an entrepreneurship and investment ecosystem designed to connect founders with investors, partners and support services at different stages of company development. 

The initiative launched during the inaugural Thara Connect Forum on Oct. 29. Its program combined panel discussions, networking and a startup exhibition at the Thara Entrepreneurship Centre. 

Madica receives $6m for African startups 

Africa-focused investment programme Madica secured an additional $6 million from Flourish Ventures, extending its pilot for three years and providing capital to support up to 30 more early-stage startups. 

Launched in 2022 and led by Emmanuel Adegboye, Madica has invested in 18 startups across 10 countries and 12 sectors. It targets founders with paying customers and limited institutional funding. 

Rently secures $12 million credit facility 

Rental payments platform Rently secured a $12 million growth credit facility from January Capital to expand across Singapore, Hong Kong and the UAE, while preparing entry into additional markets. 

Its UAE service lets tenants pay rent monthly while landlords receive structured payouts. Rently reported more than 100 million Emirati dirhams ($27.23 million) in local contracts and plans a $10 million to $15 million Series A in 2027. 

YouTube Shopping expands into three Arab markets 

YouTube launched its Shopping affiliate program in Saudi Arabia, the UAE and Egypt, enabling eligible creators to tag products in videos, Shorts and livestreams while earning commissions on completed purchases. 

Amazon is the program’s first regional partner. Eligible YouTube Partner Program creators need at least 500 subscribers, while new features include AI-assisted product tagging and QR-based checkout on television screens. 

Ghanem adds $1.5m to pre-seed round 

Saudi property technology platform Ghanem raised a $1.5 million pre-seed extension from real estate companies and strategic angel investors, bringing the round’s total to $8.6 million. 

Founded by Saleh Waheed Al-Ghamdi and Amr Essam, Ghanem offers fractional property investment from SR1,000.

The funding will support product development, property diversification and partnerships across Saudi Arabia. 

FinBursa launches AI platform for private markets 

FinBursa unveiled FinBursa 360, an AI-native platform combining customer management, deal execution, virtual data rooms, fundraising, investor onboarding and reporting for private-market professionals. 

Founded in 2024 by former BlackRock director Ismail Badereldine, the platform uses five specialized AI agents to support research and due diligence, while requiring human approval before external outreach.