Funding activity in the Middle East and North Africa was dominated by early-stage deals this week. Saudi Arabian networking platform Halo AI led the investments, securing seed funding from key venture capital firms in the region. Other startups that raised early-stage capital include Palestinian-Dutch skilling and jobs platform TAP, UAE-based AI solutions provider Teammates AI, and UAE-based construction tech platform Opteam.
Saudi Arabia-based AI-powered networking platform Halo AI secured $6 million in seed funding from Raed Ventures and Shorooq, among other investors to propel its expansion plans.
Founded in 2024 by Vito Strokov, Rami Saad, and Alex Gadalin, Halo uses AI to connect brands with nano- and micro-influencers with audience relationships in specific niches. The investment will be used to accelerate Halo AI's global expansion beyond Saudi Arabia. Its immediate expansion plans include Dubai and Kuwait, followed by rapid scaling across MENA, Europe, and North America. Halo AI’s clients include Kitopi, ToYou, 1/2M, and Syarah.
Wamda Capital-backed Palestinian-Dutch skilling and jobs platform TAP raised $1 million in investment, led by Invest International, besides other impact angel investors to scale its innovative job-hunting platform.
Founded in 2018 by Jafar Shunnar and Christian Vezjak, TAP aims to launch its AI-powered job-hunting platform and expand its regional partnerships. It offers global mentorship networks, personalized coaching, and innovative tools to let individuals to build careers without leaving their countries. The funding will allow TAP to strengthen its impact in Palestine, Jordan, and Lebanon.
The latest round of funding comes after over a year of raising a $1 million seed capital from Wamda Capital, the World Bank, Loyal VC, and other angel investors.
UAE-based AI solutions provider Teammates AI, formerly Uktob AI, has raised undisclosed funding from several investors, including Hustle Fund and Access Bridge Ventures, to fuel expansion. Other investors including Oraseya Capital, Beyond Capital, and other angel investors also participated in the round.
Founded in 2023 as Uktob AI by Emad Ayyad and Kareem Ayyad, Teammates offers enterprises with AI colleagues that can handle tasks including customer support and email management across 50 languages. The rebranded startup enables businesses to use AI to take on entire job functions through autonomous AI Teammates
Construction tech platform Opteam raised an undisclosed sum in a pre-seed round, led by Plus VC, to scale its business in the UAE and Saudi Arabia. The UAE company’s funding round also saw participation from Dar Ventures, SIAC Ventures, and Oraseya Capital.
Founded in 2020 by Tarek Hegazy and Ahmed Hegazy, Opteam empowers construction teams with tools for monitoring progress, real-time dashboards, and intelligent schedule optimization. It allows construction companies to manage their data and reduce the strategizing time. The startup aims to utilize the fresh capital to deepen Opteam’s AI capabilities, expand its team, and establish its market presence in the UAE and Saudi Arabia.
Raseedi x Kashat
Egyptian fintech Raseedi, which caters to underbanked consumers through its daily fintech app acquired another fintech player Kashat in an equity deal to broaden its product offerings and introduce instant loans. As Kashar owns Pharos Microfinance S.A.E., the acquisition will allow Raseediusers will be able to access and apply for instant cash loans provided by the microfinance company that are directly deposited into their mobile wallets (after passing the internal credit scoring process).
Founded in 2018 by Ahmed Atalla and Samuel Samy, Raseedi offers underbanked users a dialler app to make cheaper calls, receive saving tips, make payments and borrow airtime instantly without a credit history. Kashat, founded in Egypt in 2018 by Karim Nour and Sumair Farooqui, is a fintech that instantly lends small loans to the financially excluded.
