INFOGRAPHIC: Startup Funding in Africa and the Middle East — Week 45
Here are the venture funding activities we tracked in the Middle East and African region this week – including NorthLadder, Mush Social, Cathedis, Warburg AI, Teradix, and Beacon Power Services.
- UAE device trade-in platform NorthLadder receives $10M Series B fund to expand operations
- Saudi Arabia's social media platform Mush Social completes $1.2M pre-seed to enhance growth
- Morocco’s last-mile delivery startup Cathedis acquires $713,000 investment for a delivery solution
- UAE AI startup Warburg AI gets $250,000 seed funding to boost AI finance services
- Egypt's e-procurement solutions provider Teradix secures $140,000 grant to fuel expansion
- Nigeria’s energy tech company Beacon Power Services closes undisclosed Series A funding to accelerate growth
UAE device trade-in platform NorthLadder receives $10M Series B fund to expand operations
NorthLadder, a UAE-based device trade-in platform raised $10 million in Series B funds from stc Group’s tali ventures and Dutch Founders Fund with participation from Crescent Ventures.
For the past 18 months, NorthLadder has established itself as a leading player in the trade-in market, expanding its reach to more than 10 countries.
Launched in 2021 by Mihin Shah and Sandeep Shetty, NorthLadder provides a platform for trading pre-owned electronics, featuring an automated assessment process and home pick-up services to create a secure environment that maximizes user value.
Recently, the company established its European operations in Amsterdam as part of its global expansion goals to foster trade-ins with key partners across Europe.
The new funding will support NorthLadder's global expansion efforts and the development of its advanced trade-in platform.
