Top 10 Local VC Funds & Investors in Middle East (October 2023)

Portfolio highlights

• Lengo — Lengo is an AI based intelligence platform that offers a large database on consumer goods for companies in the FMCG sector.
• Zanifu — The zanifu platform, allows small retailers in Sub Saharan Africa, to procure inventory from their suppliers & pay later.
• Fixit45 — Your best ever automobile service experience awaits you.

Portfolio highlights

• Axoni — Axoni is a New York-based capital markets technology firm that specializes in distributed ledger infrastructure. Product offerings include blockchain deployments, large-scale data management, bespoke smart contract development, analytics services, and connectivity tools.
• AlloyX — AlloyX makes it simple and accessible for protocols, DAOs, and institutional investors to create diversified RWA investment strategies. We provide lenders with a flexible and efficient platform for managing all of their RWA assets based on their yield, risk, and liquidity preferences.
• Coinflow Labs — Coinflow is a payment solution that allows Web3 companies to accept traditional payment methods and payout their customers by converting cryptocurrency to USD in their traditional bank account.

Portfolio highlights

• Trullion — The best AI-powered accounting software for lease accounting & revenue recognition compliance. Accountants trust Trullion for automated financial software.
• SphereX — Experience unmatched decentralized security with SphereX, safeguarding your DeFi apps non-stop. Trust in our transparent, ML-based protection.
• Floodlight — Track finances, make smarter decisions, and increase revenue. Think business accounts, cards, payments and cashback, all-in-one.

Portfolio highlights

• Headway — Headway is a mental healthcare system provider based in New York. It develops a health insurance advisory platform designed to connect patients with therapists and provides administrative support to therapists who don’t typically accept insurance. The company was founded by Andrew Adams, Jake Sussman, Dan Ross, and Kevin Chan in 2019.
• Ramp — Join thousands of forward-thinking businesses using Ramp to control spend, save time, and automate busywork.
• Sonera Magnetics — Sonera Magnetics develops a technology for high-performance, non-invasive brain-computer interfaces to democratize access to the brain.Its core technology enables them to detect signals from the brain at performance levels comparable to the best diagnostic tools that rely on superconducting sensors. It can detect high-quality magnetic signalsfrom neurons firing in the brain using a non-invasive, low-cost, and low-power system - enabling a practical brain-computer interface. ‍Sonera’s portable brain imaging systems can be used to provide concordant evidence for the diagnosis and treatment of neurological disorders, such as epilepsy and dementia.The company was founded in 2018 by Nishita Deka, Dominic Labanowski, and Sayeef Salahuddin in Berkeley, California.

Portfolio highlights

• Cartwheel — Cartwheel provides multi-tiered, evidenced-based mental health support from licensed clinicians, designed around your entire school community.
• Granular Energy — Granular Energy provides solutions for managing and trading clean energy. Our tools have been developed to support the recent emergence of 24/7 time-stamped energy certificates as well as traditional "annual" certificates.
• Rainforest — Rainforest focuses on providing software platforms for payment processing. Rainforest is headquartered in Atlanta, United States.

Portfolio highlights

• Rapido — Rapido bike taxi provides the best intra-city commuting services and is currently operating in 100+ cities. It is considered as the most affordable choice.
• Iambic Therapeutics — Iambic has created a cutting-edge AI-driven platform to tackle the most challenging design problems in drug discovery and address unmet patient need.
• Liminal — Create Multisig wallets for Bitcoin, Ethereum, Ripple using hardware wallets. We make it extremely easy and secure for individuals and businesses to manage their digital assets without giving up control and ownership.

Portfolio highlights

• Endowus — Licensed by MAS. Grow all your money through intelligent investment portfolios built by experts, customised to your goals. Award-winning fee-only wealth platform.
• Ferrum Health — Ferrum Health is a developer of an enterprise IT and AI patient safety platform for health systems. Ferrum Health provides an artificial intelligence (AI) technology platform for health system executives to prevent medical errors across their patient population, serving as a safety net that uses AI algorithms to assist quality teams in the peerreview of radiology studies.
• Lyte Ventures — Built for creators, designed for the future of work. We do the hustling so that you can focus more on what matters to you.

Portfolio highlights

• LOKI — LOKI is a cloud-based secure network platform that can be managed without any technical knowledge.The company enables companies to manage and secure their networks by changing how they interact with cybersecurity products. LOKI platform offers a cloud-based secure software-defined wide area network (SD-WAN) infrastructure that automatically scansand protects all network traffic from threats.
• Kinexcs — Kinexcs is a data-driven digital health company enabling personalized health for fitness seekers and athletes & evidence-based recovery for musculoskeletal patients.
• Guardara — The most comprehensive negative testing / fuzz testing platform to hunt down bugs and zero-day vulnerabilities.

Portfolio highlights

• Enhance Ventures — Enhance is already live in 7 countries and can rapidly develop vertical marketplaces across Middle East, North Africa, Pakistan and Turkey with a higher chance of success.
• Magnitt — Magnitt is a startup directory that connects investors, mentors, and emerging companies in the Middle East. The discovery platform is a database with over 5,500 MENA startups and over 200 investors.
• Joi Gifts — Joi Gifts is the best online gift shop for any occasion. Send flowers, cakes, and more with same-day delivery in KSA, UAE, Jordan, Egypt and Middle East.

Portfolio highlights

• invygo — Invygo is MENA's first & largest car subscription service creating accessible mobility options through an all-inclusive monthly subscription, all in a seamless app-based experience.For consumers: we provide them access to passenger cars without any financial burdens through a customizable month-to-month subscription through a mobile appFor Dealers: through our technology, they get access to a new business model that helps them generate revenue and reduce their depreciation and operational cost The company was founded in 2018 by Eslam Hussein and Pulkit Ganjoo in Dubai, UAE.
• Yodawy — Yodawy is an online pharmacy and insurtech startup that allows customers to order pharmaceuticals and cosmetics via a mobile app and have those delivered through a network of 500+ pharmacies across Egypt. Insurance and copayment benefits are automatically applied with four major insurance carriers onboarded thus far and more in the pipeline.
• Money Fellows — MoneyFellows digitizes the ROSCA model, enabling group lending and savings.