Top 23 GCC tech funding rounds of 2016

23 funding rounds in GCC-based start-ups which have been announced so far this year
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
January 2016\\nDubai, UAE\nFounder: Michael Lahyani\nInvestment: $20mn\nInvestors: Vostok New Ventures
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.
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.
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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.
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.
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.
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
July 2016\nJoi\nDubai, UAE\nFounders: Ritesh Tilani and Alper Celen\nInvestment: Undisclosed \nInvestors: 500Startups
September 2016\nMovesouq\nUAE and Qatar\nFounders: Bana Shomali and Wim Torfs\nInvestment: $3mn\nInvestors: Addventure
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.
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.
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.
October 2016\nEat\nUAE and Bahrain\nFounder: Nezar Kadhem\nInvestment: $2mn\nInvestors: Pinnacle.
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.
November 2016\nMini Exchange\nDubai, UAE\nFounder: Sarah Jones\nInvestment: $3mn\nInvestors: Not named.
November 2016\nVisage\nDubai, UAE\nFounder: Joss Leufrancois, Barry Potier, and Emmanuel Marboeuf\nInvestment: $350,000\nInvestors: Not named
November 2016\nMatic Services\nDubai, UAE\nFounder: Mohamed Samad\nInvestment: Not disclosed\nInvestors: Middle East Venture Partners (MEVP)
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