Careem lays off 31% workforce amid losses due to COVID-19
Careem has recently announced that it is officially laying off 31 percent of its employees in a wake of huge losses amid the COVID-19 crisis.
MENA
Startup News and Stories fostering insights into various sectors (Fintech, Edtech, Logistics, etc.) of MENA (Middle East & North Africa) – majorly Abu Dhabi, Dubai, UAE, Saudi Arabia, Egypt, Bahrain, Lebanon, Palestine, and Qatar among others.
Instabug raises $5 Mn in Series A funding round from Accel
Headquartered in California, US, Instabug yesterday announced that it has raised a $5 million in a Series A round from Accel.
Uber Eats exits 7 markets including Egypt & KSA, will operate under Careem Now in UAE
The foodtech joint of the international ride-hailing unicorn Uber has shut down its operations in a total of 7 markets including Egypt and Saudi Arabia.
Sheraa sets up $1 Mn Equity-free Grant Pool to support startups amid COVID-19
In honour of the #UbuntuLoveChallenge the fund will aid startups ensuring they remain afloat, and tide over these uncertain times.
Flat6Labs Bahrain holds their first Digital Demo Day for its 4th Cycle
Flat6Labs Bahrain is holding their first Digital Demo Day for its 4th Cycle where 7 innovative startups will be presenting their businesses virtually.
EMPG announces merger with OLX Group, raises $150 Mn & reaches unicorn status
Dubai's online classified group EMPG and Amsterdam-based OLX Group have recently announced a merger in Pakistan, Egypt, Lebanon, and the UAE
yallacompare raises $4.25 Mn from Gulf Insurance Group
Middle East's leading finance comparison platform today announced that it has raised $4.25 from Gulf Insurance Group (gig)
Hubpay – UAE-based digital wallet solution raises seed funding
Dubai's Hubpay, a digital wallet solution for remittances has recently raised seed funding from Signal Peak Ventures, with participation from Falcon Network.
Basma.ai – Bahraini tech startup offering free services to hospitals & public institutions amid COVID-19
Bahrain-based Basma.ai has recently announced that it is offering its services free to all hospitals and public institutions amid COVID-19 crisis.
Palestinian Tawazon raises seed funding from Ibtikar Fund
Palestine-based startup Tawazon that offers guided meditation through its mobile app has raised an undisclosed amount from Ibtikar Fund
Egyptian Pravica raises $500K from 500 Startups
Cairo, Egypt-based Pravica today raised $500,000 in a Pre-Seed round led by 500 Startups with participation from Modus Capital and DYRES Venture.
Dubai’s EMPG acquires Thai online retailer Kaidee
Dubai-based online classified group Emerging Markets Property Group (EMPG) last week announced that it has acquired Thai's largest online marketplace Kaidee.