Top 23 GCC tech funding rounds of 2016

23 funding rounds in GCC-based start-ups which have been announced so far this year
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We have researched the data published on our website and from the beginning of 2016 to list the following 23 funding rounds in GCC-based start-ups which have been announced so far. To help us complete the list, please send us your comments or suggestions by email to
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January 2016\\nDubai, UAE\nFounder: Michael Lahyani\nInvestment: $20mn\nInvestors: Vostok New Ventures
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January 2016\\nDubai, UAE\nFounders: Emerging Markets Property Group (EMPG)\nInvestment: Series C round of $20mn\nInvestors: Not named
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January 2016\nThe Luxury Closet\nDubai, UAE\nFounder: Kunal Kapoor\nInvestment: Series A round of $2.2mn\nInvestors: MEVP, Dubai Silicon Oasis Capital, twofour54, and MENA Venture Investments
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February 2016\nJustMop\nDubai, UAE\nFounders: Kerem Kuyucu and Ali Cagatay Ozcan\nInvestment: Undisclosed\nInvestors: Turkish investors Nevzat Aydin, Aydin Ozol and Gokce Kabatepe.
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February 2016\\nUAE and Saudi Arabia\nFounder: The Middle East Internet Group (MEIG)\nInvestment: Series A of $67mn\nInvestors: Al Tayyar Travel Group Holding Company
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February 2016\nMumzworld\nDubai, UAE\nFounder: Mona Ataya\nInvestment: Series B round of an undisclosed amount\nInvestors: Wamda Capital, twofour54, Endeavor Catalyst, Precinct Partners and WSB Holding, in addition to several pre-existing investors increasing their stake in the company.
Ronaldo Mouchawar founder of
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February 2016\nSouq\nDubai, UAE\nFounder: Ronaldo Mouchawar\nInvestment: $275mn\nInvestors: Naspers, Tiger Global Management, Standard Chartered Private Equity, the World Bank’s IFC, and Baillie Gifford.
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March 2016\nUnnyhog\nUAE, Silicon Valley\nOne of Flat6Labs Abu Dhabi first cycle's start-ups\nFounders: Pavel Ignatov\nInvestment: twofour54 (alongside YCombinator)\nInvestors: Not named.
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March 2016\nCollectionair\nDubai, UAE\nOne of Flat6Labs Abu Dhabi first cycle's start-ups\nFounders: Valerie Konde and Olivier Varenne\nInvestment: twofour54\nInvestors: Not named.
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May 2016\nReserveout\nDubai, UAE\nFounder: Khalil Shadid\nInvestment: Series A round of $4 million\nInvestors: Silicon Badia, 500Startups, iMena Group and Jisr Venture Partners, and other investors.
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June 2016\\nDubai, UAE\nFounders: Fathi Alsharif and Mousa Yassin\nInvestment: Seed round of $600,000\nInvestors: Wamda Capital, Equitrust and Bayt CEO Rabea Ataya.
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June 2016\nNOMADD\nKingdom of Saudi Arabia\nFounder: Georg Eitelhuber\nInvestment: Series A round of $1mn\nInvestors: King Abdullah University of Science and Technology’s (KAUST) Innovation Fund
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July 2016\nJoi\nDubai, UAE\nFounders: Ritesh Tilani and Alper Celen\nInvestment: Undisclosed \nInvestors: 500Startups
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September 2016\nMovesouq\nUAE and Qatar\nFounders: Bana Shomali and Wim Torfs\nInvestment: $3mn\nInvestors: Addventure
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September 2016 \nWrappup\nDubai, UAE\nFounders: Rami Salman, Ayush Chordia, and Rishav Jalan\nInvestment: Seed round of $800,000\nInvestors: Beco Capital, 500 Startups, Arzan VC, Dubai Silicon Oasis, Hala Fadel, Dubai Angel Investors, Odin Financial Advisors, and Womena.
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September 2016\nCompareit4me\nDubai, UAE\nFounders: Jon Richards and Samer Chehab\nInvestment: $2.4mn in bridge funding round\nInvestors: Wamda Capital, STC Ventures, Dubai Silicon Oasis Authority, SANED, Mulverhill Associates, and a number of private investors.
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September 2016\nThe Luxury Closet\nDubai, UAE\nFounder: Kunal Kapoor\nInvestment: Series B round of $7.8mn\nInvestors: Wamda Capital, Middle East Venture Partners (MEVP), Equitrust, Saned Partners, Arzan Venture Capital and several other regional investors.
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October 2016\nEat\nUAE and Bahrain\nFounder: Nezar Kadhem\nInvestment: $2mn\nInvestors: Pinnacle.
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October 2016\\nUAE\nFounder: Bhalla and Digvijay Pratap\nInvestment: $7 million in Series A funding\nInvestors: Accel Partners, F&C Overseas Investment, and Al Sanie Group.
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November 2016\nMini Exchange\nDubai, UAE\nFounder: Sarah Jones\nInvestment: $3mn\nInvestors: Not named.
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November 2016\nVisage\nDubai, UAE\nFounder: Joss Leufrancois, Barry Potier, and Emmanuel Marboeuf\nInvestment: $350,000\nInvestors: Not named
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November 2016\nMatic Services\nDubai, UAE\nFounder: Mohamed Samad\nInvestment: Not disclosed\nInvestors: Middle East Venture Partners (MEVP)
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November 2016\nBayzat\nDubai, UAE\nFounder: Talal Bayaa\nInvestment: $3.5 million\nInvestors: BECO Capital
Wed 05 Oct 2016 02:12 PM
By Tamara Pupic