My Startup World Staff
DIFCs Wealth and Asset Management cluster now exceeds 300 companies
Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa, and South Asia region, has attracted several notable names recently, taking the total number of wealth and asset management companies to over 300.
CYFIRMA successfully raises fresh round of funding
CYFIRMA, a leading external threat landscape management company has raised a Pre-Series B round funding from Israel’s venture fund OurCrowd and India’s L&T Innovation Fund. With this, these firms join CYFIRMA’s existing investors Goldman Sachs, Zodius Capital, and Z3 Partners. With the closing of this round, CYFIRMA has raised nearly $18m to date.
Miral partners with Khalifa Fund to host budding entrepreneurs at Yas Bay Waterfront in Abu Dhabi
Miral, Abu Dhabi’s leading creator of immersive destinations and experiences has partnered with Khalifa Fund for Enterprise Development to support local entrepreneurs this Ramadan at Yas Bay Waterfront Nights. The much-anticipated night market and event features over 20 small businesses and artisans, six of which have been supported by Khalifa Fund.
Web3 sneaker brand SOL3MATES reveals its first NFT collection
SOL3MATES, Chalhoub Group’s web3-native sneaker brand, revealed its first NFT collection “SOL3MATES OG NFTs”. Only 10,000 NFTs will be available at 0.03 ETH (approx. 55 USD) on 4th of May 2023 for a limited time only. Purchasers of the collection become members of the SOL3MATES community
Hakbah raises $2 million in pre-Series A funding
Saudi-based fintech savings platform, Hakbah successfully raised $2 million pre-Series A funding round by a leading venture capital firm Global Ventures and DIFC-based Aditum Investment Management. The company will use the funds to expand its presence in Saudi Arabia.
Cybersecurity concerns of SMBs
While threat detections continue to rise, the widening cybersecurity skills gap is leaving businesses exposed. It is an issue particularly felt by SMBs forced to rein in their spending due to the current economic climate. With this in mind, ESET recently surveyed over 700 SMBs across a variety of sectors to ascertain their ability to detect
World Metaverse Awards to be held in Riyadh in 8 June
The World Metaverse Council has been announced as a strategic partner for the upcoming Metaverse Discovery event in Riyadh, a groundbreaking gathering that will take participants on an immersive journey into the opportunities presented by the Metaverse.
Unifonic and inspireU from stc to empower the startup ecosystem in KSA
Unifonic partnered with inspireU from stc to promote Saudi Arabia’s startup ecosystem through sponsorship and investment in SaaS startups via an Accelerator and a Venture Builder. Through this partnership, Unifonic and InspireU from stc will support early-stage startups in various domains such as fintech,
UAE and Cisco collaborates to launch digitization initiatives for SMEs
The Ministry of Economy of the UAE and Cisco have announced a digitization initiative aimed at accelerating the growth of small and medium enterprises (SMEs) in the country, under the scope of the ambitious program “Entrepreneurial Nation 2.0”.
DIFC unites FinTechs and banks for innovation
According to recent research by Report Ocean, the global FinTech Lending Market was valued at approximately $573.05 bn in 2021 and is anticipated to grow with a healthy growth rate of more than 27.4% over the forecast period 2022-2029.
Generative AI to usher in a bold new future
New research from Accenture finds that generative AI and other rapidly evolving technologies are ushering in a bold new future for business as physical and digital worlds become inextricably linked.
bp invests $11m in India’s e-mobility startup, Magenta Mobility
bp ventures has invested $11 million in India’s e-mobility startup, Magenta Mobility, which specialises in the electrification of logistics and last-mile delivery – the journey from a distribution centre to a home or business. The investment forms part of a $22 million Series A1 equity investment round just completed by Magenta Mobility.