INFOGRAPHIC: Startup Funding in Africa and the Middle East

Saudi Arabia mobility startup SHIFT receives $82.8M investment to spur its growth
Kenyan e-mobility startup Zeno secures $9.5M seed funding to transform Africa’s energy and transport landscape
UAE’s climate-tech company Coral lands $3M seed round to expand operations
Moroccoʼs SaaS provider Userguest banks $2.4M seed fund to fuel rapid expansion and product innovation
Moroccan HRtech startup Kwiks raises $827,000 investment to revolutionize recruitment in the country
Saudi Arabian fintech startup UmrahCash closes $500,000 funding to expand its operations
Egyptian ed-tech company Farid secures $250,000 pre-seed to expand its platform to other countries

Saudi Arabia mobility startup SHIFT receives $82.8M investment to spur growth

SHIFT, the UAE-based leading mobility company, has closed a $82.8 million investment round led by Merak Capital.

This funding from Merak Capital aligns with the kingdom's 2030 objectives of developing the economy by implementing innovative programs in tourism, transportation, logistics, and other sectors.

Established by Khalid Alsulaiman in 2017, SHIFT Inc. is a comprehensive platform headquartered in Jeddah that specializes in providing tech-driven mobility solutions to people and goods, with its current operations spanning across 57 cities in the Kingdom.

The new investment will bolster and accelerate SHIFT’s tech-driven innovations to enhance efficiency, sustainability, and connectivity across the Kingdom's mobility and logistics ecosystem.