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
Kunal-Kapoor-luxury closet.jpg
4 of 24
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
Justmop.com_Kerem Kuyucu and Ali Cagatay Ozcan.JPG
5 of 24
February 2016

\nDubai, UAE
\nFounders: Kerem Kuyucu and Ali Cagatay Ozcan
\nInvestment: Undisclosed
\nInvestors: Turkish investors Nevzat Aydin, Aydin Ozol and Gokce Kabatepe.
6 of 24
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
Mona Ataya founder of Mumzworld.jpg
7 of 24
February 2016

\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
8 of 24
February 2016

\nDubai, UAE
\nFounder: Ronaldo Mouchawar
\nInvestment: $275mn
\nInvestors: Naspers, Tiger Global Management, Standard Chartered Private Equity, the World Bank’s IFC, and Baillie Gifford.
9 of 24
March 2016

\nUAE, Silicon Valley
\nOne of Flat6Labs Abu Dhabi first cycle's start-ups
\nFounders: Pavel Ignatov
\nInvestment: twofour54 (alongside YCombinator)
\nInvestors: Not named.
Collectionair-Valerie Konde.jpg
10 of 24
March 2016

\nDubai, UAE
\nOne of Flat6Labs Abu Dhabi first cycle's start-ups
\nFounders: Valerie Konde and Olivier Varenne
\nInvestment: twofour54
\nInvestors: Not named.
Khalil Shadid-Reserveout.jpg
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May 2016

\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.
13 of 24
June 2016

\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

\nDubai, UAE
\nFounders: Ritesh Tilani and Alper Celen
\nInvestment: Undisclosed \nInvestors: 500Startups
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September 2016

\nUAE and Qatar
\nFounders: Bana Shomali and Wim Torfs
\nInvestment: $3mn
\nInvestors: Addventure
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September 2016

\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

\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.
18 of 24
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.
19 of 24
October 2016

\nUAE and Bahrain
\nFounder: Nezar Kadhem
\nInvestment: $2mn
\nInvestors: Pinnacle.
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October 2016

\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

\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

\nDubai, UAE
\nFounder: Talal Bayaa
\nInvestment: $3.5 million
\nInvestors: BECO Capital
Wed 05 Oct 2016 02:12 PM
By Tamara Pupic