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Today: September 21, 2024
May 4, 2024
1 min read

Unlocking Funds: Startup Finance in Africa and the Middle East




Article Summary

TLDR:

Key Points:

  • Cybertech Oasis raised $35M for Non-Human Identity Security
  • WEE received $10M for expansion in UAE

In Week 18, several startups in the Middle East and Africa region secured significant funding for their expansion and operations:

Cybertech Oasis, an Israeli-based cybersecurity firm specializing in non-human identity management, raised $35 million in Series A extension funding. The funds will be used for research and development as well as to accelerate its product roadmap.

WEE, a Dubai-based e-commerce platform, received $10 million in a pre-Series A round to upgrade its logistic capabilities and expand operations within the UAE.

Chowdeck, a Nigerian food delivery startup, secured $2.5 million in seed funding to scale its services to more Nigerian cities.

Kubik, an Ethiopian plastic recycling startup, closed an additional $1.9 million in funding to expand its operations in Addis Ababa and across Africa in 2025.

Shorages, a UAE-based logistic startup, raised $1 million in pre-Series A funding for international expansion and plans to launch more warehouses across the GCC region.


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