Sheikh Mohammed’s Mothers’ Endowment campaign passes fundraising target in first three weeks of Ramadan
fundraising
Latest in fundraising
donation
UAE announces fines of up to $136,000 for illegally collecting donations
UAE public prosecutors have warned against unlicensed collections
Charity
UAE announces fundraising laws ahead of Ramadan; $54,000 fine for violators
UAE fundraising during Ramadan 2024 must follow charity law guidelines or face significant fines
digital school
Digital School: How your old phone could support 10,000 needy students
Digital School plans to recycle 10,000 unwanted tech devices for students in need
1 Billion Meals Endowment
Dubai’s Sheikh Mohammed donates AED250m to Ramadan charity campaign
Dubai ruler Sheikh Mohammed takes total donations to 1 Billion Meals campaign beyond AED1bn
Dubai
Indian firm to launch ‘Uber of influencer marketing’ in Dubai
Mad Influence’s marketplace platform is slated to be launched later this month
Earthquake
Messi, Ronaldo, Neymar, Mbappe auction jerseys for earthquake-hit Turkey, Syria
The generosity of these football stars in raising funds for the Turkey-Syria earthquake victims
flexible employee
Saudi startup Marn strikes funding deal with Sukna Ventures
For Marn, the latest funding deal comes close on the heels of it striking a partnership deal with international hospitality major Ritz-Carlton for sourcing of employees
fundraising
Middle East startup funding is overheating: It’s time to slow down
The region’s tech and startup ecosystem today is more sober, compared to the feverish market environment as recent as the start of 2022 when the world was coming out of the pandemic
business funding
ME-based car subscription venture Invygo raises $10mn funding from MEVP-led investor group
The venture is expected to use the capital to double down on its presence in the UAE and Saudi Arabia
Abu Dhabi
Star Indian startup entrepreneur Nikhil Kamath to hold road shows in Dubai this week for its $100 million fundraising plan
Kamath’s hedge fund will also be eyeing investment opportunities in the UAE, including in the much sought after real estate assets in Dubai, in a big way with a new investment vehicle to manage pooled funds from residents allowed for overseas investments under India’s amended liberalized remittances scheme
business funding
Funding for women-founded startups in MENA remains difficult, says entrepreneurs
The gender bias continues unabated with all-male startup founding teams garnering 99 percent of the total $374 million investments raised in August, while just a paltry one percent went to startups founded or co-founded by women
business funding
Crypto House Capital set to raise funds to finance Skylum, its ambitious virtual residential tower in UAE
The startup also has plans to tap investors to support its broader initiative in UAE’s metaverse setor – the MetaReal City
BNPL
UAE-based Cashew hits market raising over $70 million, among the largest by a BNPL startup in the country
The venture is already in negotiations with a couple of family offices in Saudi Arabia and venture capital (VC) firms in the US and Singapore for the proposed fundraising
Arabic content
Arabic online motherhood platform Omooma secures $2.5 million in recent fund round
Omooma aims to increase their roster of Arabic medical, lifestyle, well-being and financial experts across the region to over 40 by the end of the year
BNPL
Mubadala leads Klarna funding even as valuation slides 85 percent
Klarna CEO Siemiatkowski said the company is “not immune to public peers being down 75-90 percent and hence our valuation is down on par”
angel investments
How to raise capital in the UAE
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