New Delhi, June 27 -- UAE-based startups drove funding activity in the Middle East and North Africa (MENA) region this week. Abu Dhabi-based AppliedAI and loyalty platform Related secured substantial funding. In Egypt, early-stage startups Roomz.rent and Nowlun secured capital to support their growth.
AppliedAI
Abu Dhabi-based artificial intelligence (AI) startup AppliedAI raised $55 million in a Series A round to deepen its regional presence. The oversubscribed round saw participation from Middle East Venture Partners (MEVP), G42, Bessemer Venture Partners, and strategic partner e&.
Founded in 2021 in the UK by Arya H Bolurfrushan, the firm relocated to the UAE in 2022. AppliedAI offers enterprise-grade solutions to address critical digitization requirements. Its AI-powered automation platform, Opus, transforms back-office operations in highly regulated industries, including financial services, healthcare, and government sectors. For instance, its AI solution can help process medical billing records and insurance claims more efficiently and accurately than traditional outsourcing firms.
The startup aims to use the fresh capital to support international expansion, enhance product capabilities, and deepen its presence in the MENA region.
The company had raised $42 million in 2022 from G42 and the Al Maktoum family.
Related
Related, a UAE-based loyalty and rewards platform, secured $8 million in funding from Equivator, a Saudi alternative investment firm, to scale its operations.
Founded in 2014 by Rabih Farhat, Related offers loyalty programmes and a digital rewards infrastructure for clients across telecom, banking, retail, utilities, and entertainment sectors.
The funding will be used to accelerate the launch of new AI and blockchain solutions and fuel growth across Saudi Arabia and beyond.
Nowlun
Egyptian logistics startup Nowlun raised a $600,000 seed extension round led by Ingressive Capital to expand its footprint. With this, Nowlun's total funding now stands at $2.3 million.
Founded in 2021 by Moataz Khamis, Mahmoud Khaled, and Ahmed Emara, Nowlun is an online freight forwarding platform that allows customers to compare different services and rates that match their needs.
It aims to utilize the funding to develop its Smart Logistics Assistant and expand operations in Egypt and Saudi Arabia.
In December 2024, Nowlun raised a $1.7-million seed round, led by Nama Ventures and A15, with participation from Sanabil 500 Global and other angel investors.
Roomz.rent
Egyptian-based co-living platform Roomz.rent secured pre-seed funding, led by angel syndicate Qora71 (now Stryde71), with participation from other regional angel investors.
Founded in 2024 by Ahmed Mandour and Yasser AlSarrag, Roomz.rent offers furnished rooms on flexible leases. The AI platform leverages proprietary technology to match tenants with compatible flatmates and provides fully managed living spaces.
The startup will use the funding to scale operations in Egypt, enhance platform capabilities, and expand to new urban markets across MENA, building a regional co-living brand.
Published by HT Digital Content Services with permission from VC Circle.