Author: Funding, Mergers & Acquisitions

Saudi Arabia-based corporate travel technology platform FlyAkeed has secured SAR 94.3 million ($25.15 million) in growth funding as it moves to deepen its position in the Kingdom’s rapidly expanding business travel market. The financing, announced at LEAP 2026 in Riyadh, combines an equity investment with Murabaha sukuk financing. The equity round was led by Sanabil Investments, the investment company wholly owned by Saudi Arabia’s Public Investment Fund (PIF), with participation from Artal Capital, stc Group’s corporate venture capital fund tali ventures and Aljazira Capital. Artal Capital also led the Murabaha sukuk financing. Founded in 2015 by Bassam Almohammadi, FlyAkeed provides…

Metal, a technology company building an AI-native operating system for capital formation, has raised $4.5 million in a Seed round led by a16z speedrun and Y Combinator, with participation from Pioneer Fund, Rebel Fund, Gaingels, Indus Valley Capital, Team Ignite Ventures, Phaze Ventures and other investors. The financing comes as Metal looks to expand beyond traditional fundraising software and build infrastructure that founders can use throughout the broader capital formation process. The company believes the software used during a fundraising round can become much more valuable when it remains embedded in a company’s financial and investor operations long after the…

Saudi Arabia’s climate technology ecosystem is gaining another early-stage player as Remedium, a sustainability technology startup, raises $1.5 million in pre-Seed funding to expand its AI capabilities and build a broader digital infrastructure for environmental accounting. The round was led by Kaltaire Investments and will help the Saudi Arabia-based company develop artificial intelligence and machine-learning capabilities across carbon management, climate intelligence and sustainability accounting. Founded in 2021 by Fawaz Abu-Ghazaleh, Remedium is building software designed to help businesses measure, manage and reduce their environmental footprint through digitalisation, automation and data analytics. Turning Sustainability Data Into Business Intelligence For companies, sustainability…

Saudi Arabia’s artificial intelligence ambitions are increasingly moving beyond compute and infrastructure toward a more practical question: how can AI understand and operate within the language, documents and workflows of the region? That question is at the center of a new strategic investment and partnership between HUMAIN, Arabic.AI and Tarjama. Announced on September 1, the collaboration combines HUMAIN’s AI infrastructure, computing capabilities and advanced models with Arabic.AI’s Arabic-first translation and document intelligence technologies and Tarjama’s more than 18 years of language technology and enterprise delivery experience.  The financial terms of HUMAIN’s investment were not disclosed. The stated objective, however, is…

Dubai-headquartered mobility technology company Swvl has secured a $13 million private investment in public equity (PIPE) led by Houston-based investment firm Coefficient LP, as the Nasdaq-listed company prepares to accelerate its expansion into the U.S. market. Coefficient, which is backed by Egypt’s Sawiris family, will invest $10 million and become Swvl’s largest institutional shareholder upon closing. An existing Swvl shareholder will contribute the remaining $3 million, while Abdalla Ali, Founder and Managing Partner of Coefficient, will join Swvl’s Board of Directors. Under the agreement, Swvl will issue 8.99 million Class A shares at $1.446 per share. The transaction is expected…

Saudi Arabia-based retail technology startup Raff has raised $1.7 million in a pre-seed funding round led by Vision Ventures, with participation from 500 Global, Palm VC, Oqal Group, Salla co-founder Salman Butt and other investors. Founded in 2024 by Ali Al Qudah and Abdul Kareem Munla, Raff is building a technology platform designed to help consumer brands expand into physical retail by connecting them directly with retailers and digitising the operational processes involved in distribution. The new funding will support Raff’s expansion across the GCC, accelerate product development and strengthen its artificial intelligence capabilities as the startup looks to build…

UAE-based AI and geospatial intelligence startup Stellaria, formerly known as Farmin, has raised $6.8 million (AED25 million) in a Seed funding round backed by a group of angel investors, at a valuation of $114.4 million (AED420 million). Founded by Dr. Ali AlHammadi, Stellaria is building what it describes as an AI-powered operating system for geospatial intelligence. The platform is designed to transform satellite imagery and other geospatial data into actionable intelligence, combining advanced AI models, analytical workflows and geospatial information within a unified system. The fresh capital will support the company’s next phase of growth, including further development of its…

Fasset, the AI-powered stablecoin neobanking platform founded by Mohammad Raafi Hossain and Daniel Ahmed, has raised $68 million in a Series C funding round at a $1 billion valuation, officially joining the ranks of global fintech unicorns. The round was led by SBI Group and follows Fasset’s $51 million Series B earlier this year, bringing the company’s total capital raised in 2026 to $119 million. The latest financing takes the startup’s overall funding to more than $150 million since its founding in 2019. Fasset will use the fresh capital to expand Own Network, its regulated financial infrastructure connecting banks, telecommunications…

MENA-born enterprise voice AI startup HeyBreez has raised $2.5 million in an oversubscribed Seed round, as demand grows for infrastructure that can move voice AI beyond individual conversations and into reliable, enterprise-scale business operations. The round was led by Lunara Partners, with participation from Jabbar Group, DASH Ventures and a group of prominent founders and strategic angel investors. Founded in 2025 by Karim Malhas, HeyBreez is headquartered in Delaware with offices in Amman and Dubai, and is already processing more than one million calls per month across MENA, Europe, the US and Latin America. Moving Beyond the AI Voice Agent…

Saudi EdTech AILA has raised $3 million in a Pre-Series A funding round led by RUA Growth Fund, marking a new phase for the Riyadh-based education technology company as it expands its personalized learning products across regional and international markets. AILA Raises $3 Million with participation from Sanabil 500 Global, Bunat VC and Fikr Ventures, alongside strategic investor Jo Academy. The AILA Funding Round will support further product development, market expansion and broader adoption among schools, educators and students. For the Saudi EdTech startup, the financing comes as artificial intelligence is moving from an experimental layer in education software toward…