INFOGRAPHIC: Startup Funding in Africa and the Middle East — Week 24
Here are the venture funding activities we tracked in the Middle East and African region this week – including Tenderd, Fhenix, Stake, Sahl, i‘SUPPLY, and Tahdir.
- UAE contech startup Tenderd secures $30M Series A fund to expand operations
- Israeli Ethereum layer 2 network developer Fhenix raises $15M Series A funding to develop confidentiality solutions
- UAE proptech Stake closes $14M Series A fund to expand operations
- Egyptian fintech Sahl lands $6M fund to expand and improve services
- Egyptian Healthtech i‘SUPPLY raises pre-Series A funding to support expansion plans
- Saudi Arabian ed-tech Tahdir closes $270,000 pre-seed round to expand operations
UAE Contech startup Tenderd secures $30M Series A funding to expand operations
- Tenderd, a UAE-based construction-tech company, has landed a $30 million Series A investment round headed by A.P. Moller Holding, with participation from new investors Quadri Ventures and Saurya Prakash, as well as current investors Wa'ed Ventures, Nakhla Ventures, SOMA Capital, and Liquid 2 Ventures.
- Tenderd, founded in 2018 by Arjun Mohan, offers companies AI-generated insights to boost asset utilization and minimize emissions, with a focus on heavy sectors like construction and shipping.
- The funding injection will drive technology innovation and allow Tenderd to broaden its reach and combine AI with physical activities in construction, mining, and industry.
Israeli Ethereum layer 2 network developer Fhenix raises $15M Series A funding to develop confidentiality solutions
- Fhenix, an Israel-based Privacy-focused blockchain has raised $15m in Series A funding led by Hack VC, with participation from Dao5, Amber Group, Primitive Ventures, GSR, Collider Ventures, and Stake Capital.
- Founded in 2023 by Guy Zyskind, Fhenix specializes in computing over encrypted data, improving data security and privacy, and allowing customers to make use of private voting methods both on and off-chain, trustless gaming, privacy-preserving artificial intelligence, and secure token transfers.
- With its total funding rounding up to $ 22 million, the company plans to use the funds to expand operations and its development efforts.
