INFOGRAPHIC: Startup Funding in Africa and the Middle East

Saudi-based aftersale services provider Zension Technologies closes $30M Series A round to launch new service
Israeli data science company Fermata banks $10M Series A funding to revolutionize Horticulture
Jerusalem-based liquid biopsy company Senseera nets $7.1M in seed funding to promote its liquid biopsy platform
Saudi Arabian interior design marketplace Revie receives $2.5M Seed from Sanabil Venture Studio to scale renovation tech
UAE AI startup MilkStraw AI bags $600,000 pre-seed to propel MENA expansion plans
Egyptian Agri-tech startup ReNile raises $450,000 investment to expand operations

Zension Technologies closes $30M Series A round to launch new service

Zension Technologies, a Riyadh-based aftersales service provider, has closed $30 million in a Series A funding round. The investment was led by Wa’ed Ventures– the $500 million venture capital arm of Saudi Aramco, with significant contributions from Japan’s Sumitomo Corporation and regional player Global Ventures.

Notably, this funding marks a milestone as Sumitomo Corporation, a century-old Japanese conglomerate, makes its first-ever strategic investment in the Gulf Cooperation Council (GCC) region.

Established in 2018 by Khalid Saiduddin and Nikos Anastasiadis, Zension offers services such as extended warranties, protection plans, and guaranteed buyback options for mobile devices and consumer electronics. These services are integrated into major retailers, telecom providers, and original equipment manufacturers (OEMs).

As Zension continues to innovate in aftersales solutions, this new funding will allow it to launch Zaam, a new vertical designed to redefine how consumers buy, own, and upgrade their devices. Slated for a Q1 2025 launch in Saudi Arabia and the UAE, Zaam aims to empower users with a more flexible and customer-centric approach to device ownership.