INFOGRAPHIC: Startup Funding in Africa and the Middle East

Israel AI responses to surveys startup Fairgen raises $8M fund to expand operations
Egypt fintech startup MNZL secures $3.5M seed fund to empower Egyptians
Kenya's d.light secures $3.4M to provide solar home systems
Senegal B2B e-commerce startup Maad closes $3.2M seed fund to expand operations in Africa
UAE financial data analytics company Lune lands $1.5M in seed fund to drive advancement

Tel Aviv-based AI responses to surveys company Fairgen closed $8M in seed funding led by Maverick Ventures Israel, Tal Ventures, IGNIA, and Creator Fund.
Founded in 2021 by Samuel Cohen, the company launched FairBoost. This cutting-edge synthetic data technology trains AI models on the customer’s survey data to enhance survey responses, which allows clients to overcome high margins of error.
Fairgen intends to use the fund secured to expand operations and development efforts, moving consumer insights into the AI era.

Cairo-based fintech startup MNZL that enables users to convert their assets like homes and cars into liquidity for their projects and needs has landed a $3.5 million seed fund led by P1 Ventures, Localglobe, and Ingressive Capital, with additional support from 500 Global, Flat6Labs, First Circle Capital, Enza Capital, Beenok, and other angel investors.
Founded in 2023 by Sameh Saleh, Ahmed Eldessouky, and Bassem El Shaer, MNZL provides users with a wallet concept for asset-backed lending to transform assets like homes and cars into liquidity for their projects and needs.
With this fund, the company plans to enhance its technology and scale operations to empower more clients.