MENA Digest: Kema, Logidoo raise early-stage capital, Sowt buys Rising Giants Network
Summary
Startup dealmaking in the Middle East and North Africa region this week was led by a couple of early-stage funding deals and an acquisition. Stride will offer alternative financial solutions and support through venture debt to complement traditional equity funding, besides mentorship programs for entrepreneurs. Dubai Future District Fund (DFDF), the region’s first evergreen venture capital fund-of-funds and direct investment vehicle, also participated in the round. Established two years ago with an initial committed capital of AED 1 billion ($272 million) DFDF has so far made 12 direct investments in startups, including AI-based dubbing platform Camb AI, proptech player Holo, and wealth management firm Zest. Moroccan e-commerce logistics solutions platform Logidoo secured $1.55 million in seed funding from a consortium of African venture capital firms to geographically scale operations.