Startup Ecosystem News | October 2019

STartup ecosystem news, GCC startup newsletter, ziwo, aswat, beco capital, magnitt, magnitt fintech, fintech ventures, fintech venture report, mubadala, entrepreneur ME, space tech, mashreq bank, bayzat,, meddy, repeat, oasis500, dubai smart citya ccelerator, dsca, startupbootcamp, dubai investor, dubai vc

Dtec Ventures brings you a roundup of the startup news from the GCC Ecosystem for the month of October 2019



  • Bayzat (HR software solution, UAE) – $16 million, Series B, led by Point72 Ventures
  • (elearning platform, UAE) – $4.5 million Series A, led by Sawari Ventures
  • Meddy (doctor booking platform, Qatar) – $2.5 million Series A, led by Modus Capital
  • Repeat (smart loyalty platform, UAE) – $2.5 million Series A, undisclosed investors
  • UnitX (cloud computing, KSA) – $2 million Pre-Seed, from KAUST Innovation Fund & Wa’ed Ventures Fund
  • Arabot (intelligent chatbot, Jordan) – $1 million, Seed round, led by Riyad TAQNIA Fund
  • Bulkwhiz (bulk value ecommerce, UAE) – undisclosed amount, Series A, from BECO Capital, MSA Capital, et al
  • Cofe App (coffee marketplace app, Kuwait) – undisclosed amount, Series A, undisclosed investors
  • (insurance comparison platform, UAE) – undisclosed amount & round, from Creative Zone
  • Melltoo (pre-loved marketplace, UAE) – undisclosed amount, Pre-Series A, led by Gobi Partners
  • ZIWO by Aswat (contact center as service, UAE) – undisclosed amount, Series A, from Wamda and Dtec Ventures


Magnitt, fintech, fintech ventures report



  • Abu-Dhabi state fund, Mubadala Investment Company is now undecided whether to invest or not in SoftBank Group’s Vision Fund 2 due to recent struggles of Uber Technologies and WeWork (part of Softbank’s Vision Fund 1)
  • Investments in Saudi Arabia to reach $500 million by 2025 according to Riyadh-based VC, Saudi Telecom Ventures’ report
  • Oasis Venture II Fund, by Oasis 500 announced its investment in 8 early-stage startups for up to $100K per venture
  • UAE-based W Ventures announced that it will be investing $50 million to develop an online and offline gaming platform


  • Golden Scent becomes the to be granted with commercial license by the Saudi Arabian Government Investment Authority (SAGIA) without the minimum capital required
  • Virtual Company License program has been launched as a joint effort of Dubai Economy, Dubai International Financial Centre (DIFC), General Directorate of Residency & Foreigners’ Affairs (GDRFA), Smart Dubai, and the Supreme Legislation Committee to allow investors worldwide to do business in Dubai digitally. It focuses on 3 industries: creative, tech and servides
  • DSOA-based startup launches “Microlease”, the region’s 1st Car Subscription Service
  • Dubai-based online Arabic courses marketplace gets acquired by Omani Society for Education Technology (OSET) for an undisclosed amount


  • Department of Health Abu Dhabi partners with Plug N Play for its Health startup accelerator to be begin its program in Q1 2020
  • Dubai Startup Hub unveiled its revamped Market Access program to foster cooperation between startups and corporates
  • 500 Startups and MISK Innovation selects 20 startups for their second cohort in KSA
  • Dubai-based global port operator, DP World, launched Log-X— a technology accelerator platform for logistics.
  • C3 Social Impact Accelerator launches their 2nd cohort in partnership with HSBC
  • ADGM Academy and Plug and Play sign an MoU to collaborate in establishing a Technology and Innovation Education Hub in Abu Dhabi.


  • EMTech MENA (UAE – 04-05 Nov
  • International Women Entrepreneur Show – 04-05 Nov
  • Wamda’s A Decade of Entrepreneurship – 06 Nov
  • Dtec Emirati Bootcamp – 12-16 Nov
  • 2019 MENA Angel Investors Summit – 18 Nov
  • Middle East Youth Expo – 19-21 Nov
  • Arabian Business Startup Awards – 24 Nov
  • FinTech Accelerator Program (Fintech Hive) Investor Day – 29 Nov


  • Deadline to apply: Dubai Smart City Accelerator – 10 Nov
  • Deadline to apply: The Greenhouse by Chalhoub – 10 Nov
  • Deadline to apply: AI Venture Labs – 15 Nov
  • Deadline to apply: Startupbootcamp Fintech – 19 Nov