VC React Podcast (E5): Saudi's AI Investments, Egypt's Mega Round In FinTech, Jordan's Accelerators

VC React Podcast:

Every week, we bring you insights and reactions from top VCs, reacting to the latest news on MENA startups, VCs, and investment rounds. Stay tuned for: expert analysis, independent opinions, and maybe some heated conversations!

Host: Ahmad Takatkah, VCpreneur.
Sign up to VCpreneur Newsletter on https://www.vcpreneur.com/

Co-Host: Jamie Lane, FWDstart.
Sign up to FWDstart Newsletter on https://www.fwdstart.me/

Available on:

• Youtube: VC React Podcast

• Spotify: VC React Podcast

• Apple: VC React Podcast

• Amazon: VC React Podcast

Guests:

1. Ali Zewail, Venture Partner @ Endure Capital
- LinkedIn Profile: https://www.linkedin.com/in/alizewail/
- VC Firm Website: http://www.endurecap.com/

2. Hasan Haider, Founder & Managing Partner @ Plus VC
- LinkedIn Profile: https://www.linkedin.com/in/hasanhaider/
- VC Firm Website: http://www.plus.vc/

3. Khaled Talhouni, Managing Partner @ Nuwa Capital
- LinkedIn Profile: https://www.linkedin.com/in/khaledtalhouni/
- VC Firm Website: http://nuwacapital.io/

In Today's Episode:

News of the week brought to you by FWDstart:

• Wa'ed Ventures is investing across the AI stack
  Source: Edge Middle East
  Summary: Wa’ed Ventures, backed by Aramco, has led a $6.5 million pre-Series A funding round for California-based AI platform aiXplain. aiXplain's Saudi subsidiary will serve as its MENA headquarters, driving growth and localizing AI solutions in the Kingdom. The startup is also partnering with regional AI organizations to develop an Arabic LLM alliance, that will debut later this year.
  Source: Edge Middle East
  A week later, Wa’ed Ventures announced an investment of $15 million in South Korean chipmaker Rebellions Inc. The company is working with Samsung to develop its proprietary chip for the GenAI market.This is Wa’ed Ventures’ first deal in South Korea. According to a statement, rebellions plans to use the funding to establish a new subsidiary in Saudi Arabia and launch business operations there.

• Egypt’s MNT-Halan Secures USD 157.5M to Drive Expansion
  Source: Waya Media
  Summary: Egypt’s MNT-Halan has raised $157.5 million in funding, featuring contributions of $40 million from the International Finance Corporation (IFC), with the remaining funds supplied by Development Partners International (DPI), Lorax Capital Partners, funds managed by Apis Partners LLP, Lunate, and GB Corp. Founded in 2017 by Mounir Nakhla, MNT-Halan offers a diverse portfolio of financial and non-financial services ranging from lending, buy now pay later, e-commerce, payments, and mobility to on-demand logistics. The new capital influx will support MNT-Halan’s imminent geographical expansion. MNT-Halan joined Egypt's unicorn club last year after securing $400 million in debt and equity financing.

• Saudi logistics platform OTO secures $8m funding for UAE and Turkiye expansion
  Source: Arab News
  Summary: Saudi Arabia-based logistics platform OTO has raised $8 million in a Series A funding round, led by Sanabil Investments, with participation from Sadu Capital, Iliad Partners, Propeller, and Soma Capital. Founded in 2019 by Mohammad AlRazaz and Furkan Uzar, OTO is a logistics technology company specialising in simplifying order shipping, management, tracking, returns, and analysis through a single integrated platform OTO plans to utilise the funds to expand and strengthen its presence in Saudi Arabia, UAE, and Turkey. It will introduce new features and enhancements on its platform. In 2021, OTO raised $3.3 million from VC funds and angel investors including MEVP, Derayah Ventures and 500 Global.

• ISSF pledges $5 million to Oasis500's second fund
  Source: Wamda
  Summary: Jordan’s Innovative Startups and SMEs Fund (ISSF) has increased its commitment to Oasis Ventures II fund (OVII) managed by Oasis500 from $3 million to $5 million. Founded in 2010, Oasis500 focuses on empowering early-stage ICT companies in Jordan through pre-seed and seed funding. The partnership between Oasis500 and the ISSF has resulted in investments in 36 startups, 36% of which are led by female founders, having created 300 direct and 1,000 indirect jobs.