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Careem has failed again in Saudi Arabia as its fourth market retreat exposes broken execution

his is the fourth time. Qatar in February 2023. Pakistan food delivery in June 2022. Pakistan ride-hailing in July 2025. Now Saudi Arabia in May 2026. Each time the script is identical. Make promises. Build infrastructure. Commit to dominance. Leave quietly when the numbers don't work.

MoMay 32 min read

Startup EcosystemSaudi Arabia

Gabster gets $500K to bring all customer channels into one AI inbox

Saudi AI startup Gabster has raised $500,000 in pre-seed funding from Muqrin Al Rajhi Investment and T2. The platform unifies more than ten communication channels and uses AI agents to automate customer interactions and business operations.

Emily Carter1d ago2 min read

Gabster gets $500K to bring all customer channels into one AI inbox

Startup EcosystemVenture Capital

Saudi delivery startup Ninja eyes $1 billion IPO in late 2026

Ninja has tapped Citigroup, Goldman Sachs, Riyad Capital, and UBS for a potential $1 billion IPO on the Saudi Exchange. The delivery unicorn generated $1 billion in revenue in 2025 and is targeting $1.6 billion in 2026.

Irfan1d ago2 min read

Saudi delivery startup Ninja eyes $1 billion IPO in late 2026

FintechDigital Transformation

Kalshi raises $1 billion as prediction markets go institutional

Kalshi raised $1 billion at a $22 billion valuation doubling its worth in just five months. Institutional trading on the platform surged 800% as prediction markets move beyond retail into serious financial infrastructure.

James Whitemore2d ago2 min read

Kalshi raises $1 billion as prediction markets go institutional

Venture CapitalDigital Transformation

Intel Capital backs QuantWare with $178 million for quantum processors

QuantWare raised $178 million in the largest ever private round by a dedicated quantum processor company. Intel Capital led the round as the Dutch startup moves to build industrial-scale quantum chips and a dedicated chip factory.

Emily Carter3d ago2 min read

Intel Capital backs QuantWare with $178 million for quantum processors

Seed FundingStartup Ecosystem

Khwarizmi raises $70 million as Saudi VC market holds its ground

Khwarizmi Ventures has completed a $70 million first close for its second fund targeting GCC seed and Series A startups. The Riyadh-based firm has already started deploying capital despite broader market caution across the region.

James Whitemore3d ago2 min read

Khwarizmi raises $70 million as Saudi VC market holds its ground

FintechStartup Ecosystem

Mubadala leads $15 million Series A in UAE SME lender CredibleX

Mubadala Investment Company has led CredibleX's Series A as part of a $15 million equity raise. The UAE embedded finance lender has now raised over $170 million across equity and debt in under three years.

Irfan3d ago2 min read

Mubadala leads $15 million Series A in UAE SME lender CredibleX

Gulf RegionCloud & Infrastructure

Anthropic commits $200 billion to Google Cloud over five years

Anthropic has committed to spending $200 billion with Google Cloud over five years. The deal accounts for more than 40% of the $462 billion backlog Google disclosed to investors last week.

Arin Sol4d ago2 min read

Anthropic commits $200 billion to Google Cloud over five years

Artificial IntelligenceSeed Funding

Metafare raises $1 million to scale VR wellness in Saudi Arabia

Saudi healthtech Metafare has raised $1 million to scale virtual reality wellness sessions powered by AI. The company is targeting both individual users and corporate clients with personalised fifteen-minute health experiences.

Mira Sen5d ago2 min read

Metafare raises $1 million to scale VR wellness in Saudi Arabia

Startup EcosystemVenture Capital

Madeed raises $925K to bring preventive healthcare to Saudi Arabia

Saudi healthtech Madeed has raised $925,000 in pre-seed funding to scale a preventive health platform built around biomarker testing and personalised care. The company wants to catch disease risk before symptoms ever appear.

Irfan5d ago2 min read

Madeed raises $925K to bring preventive healthcare to Saudi Arabia

Venture CapitalRobotics & Automation

Ineffable Intelligence raises $1.1B to build a superlearner AI

A months-old British AI lab with no product and no revenue just raised $1.1 billion at a $5.1 billion valuation. Ineffable Intelligence is betting reinforcement learning will reach super-intelligence first.

Emily Carter6d ago2 min read

Egypt & North AfricaVenture Capital

MENA startup funding hits $150 million in April but debt tells the real story

MENA startup funding climbed to $150 million across 27 deals in April 2026, a 211% jump from March's near-historic low. But half of that capital moved through debt financing, revealing a market that has found its floor without fully regaining its footing.

Mira Sen6d ago2 min read

MENA startup funding hits $150 million in April but debt tells the real story

Venture CapitalGulf Region

The case for and against crowdfunding as a path to lasting business

Crowdfunding has evolved well beyond Kickstarter campaigns and creative projects. With equity models growing fast and the global market approaching $21 billion, the real question is whether the companies it produces are built to last or built to launch.

IrfanMay 32 min read

The case for and against crowdfunding as a path to lasting business

Digital TransformationGulf Region

What the MENA funding slowdown is really asking of founders

Something has shifted in the MENA startup ecosystem, and founders who have been through previous downturns can feel it. Funding activity slowed sharply as geopolitical tensions intensified and capital paused across the region.

Jace RynApr 292 min read

What the MENA funding slowdown is really asking of founders

Venture CapitalArtificial Intelligence

The AI chip company taking on Nvidia is going public in May

Cerebras Systems, the AI chip startup known for building chips the size of a dinner plate, has refiled for a Nasdaq IPO targeting mid-May 2026, returning to public markets after a national security review derailed its first attempt in 2024.

Arin SolApr 192 min read

The AI chip company taking on Nvidia is going public in May

FintechDigital Transformation

How Airwallex went from acquisition target to Stripe rival

Few rivalries in fintech carry the personal weight of the one now developing between Stripe and Airwallex. Back in 2019, Stripe offered to buy the Melbourne-based startup for $1.2 billion. Airwallex's CEO said yes, then changed his mind.

James WhitemoreApr 182 min read

How Airwallex went from acquisition target to Stripe rival

Gulf RegionIPO & Public Markets

Anthropic fields $800 billion investor offers as revenue surges

Anthropic has attracted multiple investor offers valuing the company at $800 billion or more. The offers would more than double the $380 billion valuation it received just weeks ago when it closed a $30 billion Series G round.

Jace RynApr 162 min read

Anthropic fields $800 billion investor offers as revenue surges

FintechGlobal Expansion

Airwallex launches POS to take on Stripe and Square globally

Airwallex, the Australian fintech that spent a decade building global payments infrastructure, is moving into in-person commerce. The company is launching a point-of-sale product it says rivals like Stripe and Square cannot yet match across borders.

James WhitemoreApr 162 min read

Airwallex launches POS to take on Stripe and Square globally

Egypt & North AfricaVenture Capital

How Gizmo turned gamified learning into a $22M Series A

Gizmo, a London-based AI learning platform founded in 2021, has hit 13 million users across more than 120 countries and closed a $22 million Series A funding round. The growth figures mark a dramatic leap for the startup.

Arin SolApr 162 min read

How Gizmo turned gamified learning into a $22M Series A

Vision 2030Venture Capital

Homegrown Ventures closes $22.8M fund to back MENA consumer brands

There has never been a fund built specifically for this. Until now. Homegrown Ventures has closed its debut Fund I at USD 22.8 million, surpassing its USD 20 million target, becoming MENA's first purpose-built CPG venture capital firm.

Arin SolApr 162 min read

Homegrown Ventures closes $22.8M fund to back MENA consumer brands

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