Week 28: Africa and Middle East Top Startup Funding Rounds Led by Velocity

Startups across Africa and the Middle East raised a combined $107 million this week, based on disclosed funding rounds tracked by Techloy, with AI and property technology taking most of the money. Israeli AI startups claimed the three largest checks, led by Velocity's $27 million seed round.

The Week's Largest Startup Funding Rounds

Here are the biggest disclosed startup funding rounds across Africa, the Middle East and Israel this week.

/1. Velocity, $27 million, AI advertising, Israel 

Velocity builds the plumbing that lets AI apps make money from their free users, reading what a person is trying to do in a conversation and slipping in relevant ads without wrecking the experience. NFX and Red Dot Capital Partners led the seed round, and the founders, former ironSource and Unity executives, will use it to grow the platform as AI companies struggle to cover rising running costs.

/2. Alta, $25 million, AI sales software, Israel 

Alta runs a network of AI agents that sit on top of a company's existing sales tools, finding leads, researching accounts, chasing prospects and booking meetings from one shared view of the business. IN Venture, the investment arm of Japan's Sumitomo Corporation, led the Series A, and the money will fund global hiring, more integrations and new agents for account management.