TLDR:
- Startup funding activities tracked in Africa and the Middle East this week include Fairgen, MNZL, d.light, Maad, and Lune Technologies.
- Key funding rounds include AI startup Fairgen raising $8M, Egypt fintech startup MNZL securing $3.5M, Kenya’s d.light receiving $3.4M, Senegal’s Maad closing $3.2M, and UAE’s Lune landing $1.5M.
Full Article:
Here are the latest venture funding activities in the Middle East and African region this week. Tel Aviv-based AI responses to surveys startup, Fairgen, raised $8M in seed funding to expand operations. The Egyptian fintech startup, MNZL, secured $3.5M to empower Egyptians by enabling asset-backed lending. Kenyan-based d.light received $3.4M to provide solar home systems to low-income households. Senegal’s B2B e-commerce startup, Maad, closed a $3.2M seed fund to expand operations in Africa. UAE’s financial data analytics company, Lune, landed $1.5M in seed funding to drive advancement in the industry.
Fairgen, MNZL, d.light, Maad, and Lune Technologies are the startups that received significant funding this week. Fairgen’s cutting-edge technology, MNZL’s asset-backed lending concept, d.light’s mission to provide affordable energy solutions, Maad’s data collection for merchants, and Lune’s data-driven financial solutions are all contributing to the growth of the startup ecosystem in the region.
These funding rounds highlight the diversity of startups and technologies emerging in Africa and the Middle East, showcasing the potential for innovation and growth in these regions. The investments made in these startups signal confidence from investors and the potential for these companies to make a significant impact in their respective industries.
