Hello there,
Welcome to another edition of 🔍 Startup Researcher - Middle East, your essential digest delivering the latest news and premium insights on startups and venture capital across the region 🌍
If you haven't subscribed yet, now's the perfect time. Don't miss the opportunity to supercharge your understanding and stay ahead in this dynamic world.
Ready? Let’s get right into it.
📰 Important News
- WeRide gained UAE approval to run fully driverless robotaxis in Abu Dhabi, expanding Level 4 services with Uber and TXAI.
- Tabby Finance received Saudi Central Bank approval to offer BNPL services, expanding regulated digital credit in the Kingdom.
- SC Ventures and Microsoft launched Project Hal in the UAE to streamline SME financing, digital commerce, and GCC cross-border growth.
- NEO PAY partnered with Biz2X to add AI lending to its UAE merchant platform, giving SMEs faster, personalized credit access.
- Careem partnered with The Chefz to add premium restaurant and retail delivery to its app across Saudi Arabia.
💸 Top Funding Rounds
- Petal Group raised $18.3 million from Quintas Capital to accelerate its tech-driven floral e-commerce growth and expand across Ireland and the UAE.
- Rasēdattracted pre-seed fundingto scale its AI fraud detection platform, helping banks and fintechs in Saudi Arabia prevent digital fraud.
- Workey secured strategic funding from Falak to launch its AI workspace platform and scale smart, connected business solutions in Saudi Arabia.
💰️ Notable Exits
- WakeCap Technologies acquired Brazil’s Trackfy to expand into Latin America and extend its platform from construction intelligence to full lifecycle industrial safety, productivity, and operations.
- DataCamp completed the acquisition of Optima to launch an AI-native learning engine that personalizes courses for individuals and enterprises, enhancing data and AI skill-building at scale.
🏦 About Investors
- Tarmeez Capital and Monsha’at launched a $1.06 billion sukuk SME portfolio to expand Shariah-compliant growth capital and support Saudi entrepreneurs.
- Kamco Invest and TechInvest are planning a $100–150 million JEDI Opportunity Fund to back top startups and reinvest in winners from their earlier JEDI Fund.
- IFC is planning to invest up to $15 million in Catalyst MENA Climate Fund II, which is targeting renewable energy and water projects in MENA.
- Takamol Holding invested in Saqr Fund II with Vision Ventures to accelerate early-stage Saudi tech startups and boost Vision 2030 innovation.
🚀Startup of the Week
Introducing our Startup of the Week 🏆
Petal Group
Petal Group is a floral gifting and e-commerce platform based between Dublin and the UAE, founded by entrepreneur and technologist Garreth Knowd to modernize how customers send premium flowers. Operating online brands Flowers.ie, FlowersDirect.ie, BloomMagic.ie, and Flowers.ae, the company blends distinctive floral design, same-day delivery and a proprietary fulfillment platform. In November 2025, Petal Group received a $18 million Managed Equity investment from Quintas Capital and a syndicate of strategic backers, giving Knowd and his team firepower for acquisitions and new market entries. With technology at its core, Petal Group is emerging as a key consolidator in cross-border gifting and last-mile logistics across the Irish–Middle East corridor.
💼 Investor of the Week
Introducing our Investor of the Week 🏆
Tarmeez Capital
Tarmeez Capital is a Saudi fintech investor founded in 2022, licensed by the Capital Market Authority, and specialized in Sharia-compliant sukuk financing. Operating a digital debt investment platform, the firm focuses on helping Saudi SMEs raise growth capital through fast, standardized sukuk structures that appeal to institutional and retail investors. Its landmark move was launching a $1.06 billion, sukuk-based SME portfolio with Monsha’at, positioning Tarmeez as a key player in Vision 2030 SME finance. Led by founder Nasser Al-Saadoun and board and executive advisor Mansour Al-Saadoun, Tarmeez aims to deepen local capital markets while expanding inclusive, technology-driven Islamic finance.
🤑Opportunity Radar
Call for Applications: The Imagine H2O Accelerator
The Imagine H2O Accelerator is now open for applications until December 19, 2025, offering a zero-equity program designed to help early-stage water and climate tech founders scale globally. Startups gain access to world-class mentorship, pilot funding, investor networks, and a strong industry ecosystem, with participation open to teams worldwide, including all African markets. The 2026 program cycle begins soon, supporting innovators developing breakthrough solutions across water management, quality, access, and sustainability. Apply now to accelerate your technology and enter new markets.
Thank you for joining us this week! We trust you found value in our latest edition. 🚀
Your feedback is invaluable to us, so please don't hesitate to share your thoughts. We're committed to continuously improving and delivering content tailored to your interests and needs 📩
Looking forward to staying connected and bringing you more exciting content next time!