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Welcome to another edition of 🔍 Startup Researcher - Asia, your essential digest delivering the latest news and premium insights on startups and venture capital across the region 🌏️
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📰 Important News
- Binance secured a full ADGM FSRA license, becoming first global exchange with separate trading, clearing, custody, and brokerage entities.
- Abu Dhabi approved the FIDA fintech cluster, targeting $15.2 billion GDP impact, 8,000 jobs, and a $4.6 billion investment.
- Qatar launched state-backed AI firm Qai under QIA and announced a $20 billion joint venture with Brookfield to build large scale AI and compute infrastructure.
- Galaxy Digital opened an ADGM office to serve institutional clients across digital assets and infrastructure.
- tpay secured Egypt’s first direct carrier billing license, enabling citizens to pay government services via mobile balance without cards.
💸 Top Funding Rounds
- UAE proptech Byit Capital raised $1.1 million from A15, Beltone, and angels to scale its agent-first brokerage model across KSA and the GCC.
- Hypemasters landed $1 million in a round led by Impact46 to scale operations and develop next-gen competitive PvP strategy games.
- Saudi gametech Qwacks raised $480,000 pre-seed from Merak Capital to build a unified tech layer for game development and live ops.
- Trendle, parent of MASAHA, closed a second seed round valuing it at $1.5 million to scale AI tailoring tech and prepare for GCC expansion.
- Qadi raised a pre-seed round led by Incubayt as it exited stealth to deploy sovereign AI compliance agents across MENA and Turkey.
💰️ Notable Exits
- DAOBase was acquired by US-based GOUT Technologies strengthening its AI and on-chain data capabilities while continuing as an independent brand to scale AI-native governance infrastructure for DAOs globally.
🏦 About Investors
- US-based VC Founders Circle Capital joined QIA $1 billion fund of funds and will open its first international office in Doha marking its entry into the MENA region.
- UAE private credit platform Zelo secured a $715 million allocation from IHC to scale supply chain invoice financing for SMEs targeting a $250 billion credit gap and $1 billion gross financing volume by 2026.
🚀Startup of the Week
Introducing our Startup of the Week 🏆
Byit Capital
Byit Capital is a proptech platform founded by Antoine Azer after first building its model in Egypt, with the goal of reinventing real estate brokerage across the Gulf. Headquartered in the UAE, the company offers an agent-first, data-driven brokerage infrastructure connecting freelance brokers with verified inventory, mapped projects, and developer partnerships. Byit supports more than 40,000 freelance brokers and works with hundreds of ecosystem partners across the region. The company raised a $1.1 million strategic round backed by A15, Beltone Holding, and angel investors to fuel expansion in the UAE and Saudi Arabia. Led by CEO Antoine Azer, Byit aims to reset brokerage economics through transparency, technology, and fair incentives.
💼 Investor of the Week
Introducing our Investor of the Week 🏆
Founders Circle Capital
Founders Circle Capital is a San Francisco–based growth-stage venture firm founded in 2012 by Ken Loveless and Mike Jung, focused on backing scaled, venture-backed companies across software, cloud infrastructure, fintech, healthcare, and consumer internet. Managing around $1.5 billion in assets, FCC has built a portfolio of 125+ high-performing startups, including multiple IPOs and acquisitions. Its latest move saw FCC join QIA’s $1B Fund of Funds program and open its first international office in Doha, establishing a MENA regional hub. Led by co-founder and partner Ken Loveless, FCC differentiates itself through flexible growth capital and The Circle, its private leadership network, positioning the firm as a bridge between Silicon Valley and Qatar’s innovation ecosystem.
🤑Opportunity Radar
Call for Applications: Y Combinator Spring 2026 Batch
Applications are now open for the Y Combinator Spring 2026 Batch, a globally recognized accelerator program for early-stage startups. The application deadline is 9 February 2026 at 8:00 PM PT, and the program will run from April to June 2026, taking place in person in San Francisco. Selected founders gain access to early-stage funding, hands-on mentorship from experienced startup partners, a powerful global alumni network, and investor introductions. Early-stage founders and startup teams can begin their application now to be considered for the Spring 2026 cohort.
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