Translation By: Fairouz Alnajem

According to the available data, the funding deals for startups in the Middle East and North Africa in October were lower compared to last September, which recorded a great number of the total volume of funding deals for startups, with an estimated amount of $ 338 million.

But what is worth noting in October is the quality of funding deals in which two relatively large deals in the agricultural and medical technology sectors emerged, along with two deals for two female-led companies, with a total funding for both of them amounting to $3.8 million,  equivalent to about 46% of the total funding raised by female-led startups in the Middle East and North Africa in the first half of 2021

Here we review the top 5 funding deals raised by startups in the Middle East and North Africa during October:

 Pure Harvest

 Sector: Agricultural technology

 Country: UAE

 Establishment Date: 2016

 Founders: Sky Kurtz, Mahmoud Adi and Robert Kupstas.

 In October, Pure Harvest raised $ 64.5 million in funding, topping the list of startups that received funding for the same period. The total investments received by the company after its latest funding round amounted to about $ 271.6 million, which is the largest amount raised by a startup in the agricultural technology sector in the Middle East and North Africa, according to Wamda Inst.

 According to the company's press release, it will use the new funding to develop its technology and accelerate its business expansion in the Middle East and North Africa region. Noting that the company's latest funding round was led by the Korean IMM Investment company, along with a number of investors and the company's current management.

Cura

 Sector: medical technology

 Country: Saudi Arabia

 Establishment Date: 2016

 Founders: Wael Kabli and Muhammad Zikrullah.

Cura Saudi Arabia, the leading online telemedicine consultancy, succeeded in raising its first funding round of $ 4 million, led by Wa’ed, the entrepreneurial arm of Saudi Aramco, and ELM.

According to Cura’s press release, it will invest the funds of the funding round in improving the patient’s journey and providing more services to both individual users, customers, and partners, such as collecting blood samples from home and providing health benefits to employees that can be integrated with insurance companies, in addition to Cura’s pursuit of expansion outside KSA. Despite the medical company’s leadership in the field of health technology, about 95% of its current customers are users of the application in Saudi Arabia.

ILLA

 Sector: Logistics

 Country: Egypt

 Establishment Date: 2019

Founders: Mahmoud Al-Zumar, Alaa Jarkas, Ahmed Saqr and Hussam Saraya.

The Egyptian ILLA Logistics Services Company has raised more than two million US dollars in a funding round led by "Watheeq Financial Services" and "Golden Pam" Investments, with a number of other investors participated in the round.

ILLA is developing the supply chain activities of the post-production operations of consumer goods brands. The company will use the round funds to accelerate its expansion in the Egyptian market and enhance users' experience.

Fintech Galaxy

 Sector: Fintech

 Country: UAE

 Establishment Date: 2018

 Founder: Mirna Suleiman

In October, the Fintech Galaxy platform raised $ 2 million in an initial funding round, led by Jordanian AHLI Bank along with other investors.

Fintech Galaxy enables integration between financial technology startups and financial institutions by providing access to customer data from partner banks through open banking APIs, allowing developers to create new applications and services.

 According to the company's press release, the new funding will help it promote the development and spread of the open funding platform, as well as expand its activity in key Middle Eastern markets.

Getbee

Getbee raised about $1.8 million in a pre-Series A round led by Altitude Capital, B&Y Venture Partners, VC+, and strategic Angel Investors.

 Getbee is active in connecting brands with their customers online through live video call consultations.

 According to the company's press release, the latter will benefit from the funding round to accelerate its credibility with the leading retail brands market