INFOGRAPHIC: Startup Funding in Africa and the Middle East—Week 29, 2025
Here are the venture funding activities we tracked in the Middle East and African region this week – including Lucidya, Xtend, Ora, Yasmina, Wittify.ai, Ovasave, and MoneyBadger.
What once felt like scattered funding wins are now taking shape as an ecosystem-wide surge, backed by government allies, global investors, and a rising sector focus pulse across Africa and the Middle East region and beyond.
From Riyadh to Casablanca, a wave of ambitious companies is securing fresh capital to scale bolder ideas, push into new markets, and cement regional tech leadership.
The biggest headline this week is that Lucidya, a Riyadh-based customer experience management platform, secured $30 million in a Series B round. It’s a defining moment for the company and arguably, the region’s AI-powered SaaS sector. The round was led by Impact46, with backing from heavyweights like Aramco’s Wa’ed Ventures, Takamol Ventures, and SparkLabs, alongside existing investors Rua Growth Fund and ARG. Just two years ago, Lucidya raised $6 million. Today, its momentum signals Saudi Arabia’s growing appetite for data-driven customer intelligence.
Over in Israel, Xtend, a defence-tech startup building human-guided autonomous drones, raised another $30 million, bringing its Series B total to $100 million. The round was co-led by Aliya Capital Partners and Protego Ventures, proof that MENA’s tech ties are becoming increasingly global, with deep tech still drawing premium attention.
In North Africa, Casablanca’s Ora, the parent company of food delivery app Kooul and digital wallet Ora Cash, secured $7.5 million in Series A funding, led by Azur Innovation Fund. The dual-platform strategy reflects growing consumer appetite for bundled convenience, and Ora now has nearly $12 million in local funding since early 2023. A major signal for Morocco’s startup scene.
Meanwhile, Yasmina, a Riyadh-based embedded insurance startup, pulled in $2 million in seed funding. The round, led by Scene Holding with support from Access Bridge Ventures and Arzan VC, aims to weave insurance seamlessly into digital products, tapping into an under-penetrated fintech niche.
Just across the border, Wittify.ai, another Saudi startup, announced $1.5 million in pre-seed funding. With a mission to build the world’s most advanced Arabic-first conversational AI platform, Wittify is betting big on the linguistic gaps global models often overlook. Its funding, sourced from a syndicate of Saudi angel investors, reflects deep local belief in culturally relevant AI tools
From healthcare to crypto, other players joined the action, too. Ovasave, a UAE-based femtech startup backed by Abu Dhabi’s Hub71, closed $1.2 million in pre-seed, led by PlusVC, Annex Investments, and 25 Madison. And in Egypt, savings app Palm raised over $1 million (exact amount undisclosed) in a pre-seed round led by 4DX Ventures, with PlusVC and international angels joining in.
Even crypto didn’t sit out. South African-based MoneyBadger bagged $400k in pre-seed funding, tapping into the region’s ongoing fascination with digital payments despite regulatory uncertainty.
Q3 is off to a start, with funding flowing into AI, fintech, and consumer platforms across the region. Whether in Riyadh, Casablanca, or Cairo, investors are backing local innovation with global ambition.
