Weekly Market Highlights

5th of February 2026

This week’s updates highlight continued momentum across the GCC tech ecosystem, with new funding rounds, strategic partnerships, and regulatory progress reinforcing confidence in scalable, tech-driven businesses.

Hydrovest Technology, a Doha-based agritech startup, raised QAR 1 million (USD 275k) from undisclosed investors to transition into commercial-scale production, expand R&D collaborations, and prepare for UAE market entry in Q4 2026. Founded in 2020, the company develops climate-smart agricultural solutions and value-added food products, including Lettuce Chips, with plans to expand its product line and regional footprint. 

HAQQ Legal AI, a Lebanon-based regtech startup, has raised $3 million to date to accelerate the development and rollout of its Legal AI and practice management platform. Founded in 2020, the company is building a vertically integrated Legal AI operating system combining legal intelligence, practice management, and payments. The funding will support deeper AI and agent development and expand enterprise and institutional deployments across MENA, with current operations in Egypt and Jordan.

Kitopi, a UAE-headquartered cloud kitchens platform, has raised $50 million in growth capital led by EvolutionX. Founded in 2018, Kitopi operates 200+ outlets across the GCC and recently achieved profitability. The funding will support scaling its homegrown brands and accelerating regional and international franchising, following its $715 million Series C in 2022.

Viero, a Saudi-based fleet and logistics startup, raised $1.2 million in Seed funding led by Watheeq Capital and Share Investment Co.. Founded in 2024, Viero is building a unified operating layer for logistics operators, and will use the capital to accelerate product development and expand across the MENA region.

Qureos, a UAE-based HRtech startup, has raised $5 million in a Seed round led by Prosus Ventures and Salica Oryx Fund, with participation from regional and global investors. Founded in 2020, Qureos is an AI-driven hiring platform helping enterprises run faster, high-volume hiring at scale. The funding will be used to enhance its AI capabilities, expand go-to-market efforts, and accelerate geographic expansion through enterprise and agency partnerships.

SkipCash, a Qatar-based fintech platform, has raised $4 million in a Series A round to scale its smart payments infrastructure and expand across the GCC. Founded in 2019, SkipCash provides mobile-first payment solutions for in-store and online commerce and plans to use the funding to enhance its technology stack, expand its Tap-to-Phone POS rollout, and enter new regional markets.

Receiptable, a UAE-based RetailTech startup, has closed a Seed funding round led by 21 Ventures, with participation from Oraseya Capital, AngelsDeck VC, and Salica Investments. The company is building a digital receipts and analytics platform to help retailers and financial institutions turn receipts into data-driven engagement tools, and will use the funding to expand across the UAE and wider Middle East.

Tarabut has acquired Servable, an AI engineering company focused on regulated industries, as part of its strategy to evolve from open banking infrastructure into a fully integrated, AI-powered financial platform. The acquisition will enable advanced use cases such as credit risk assessment, fraud and compliance automation, income verification, and personalized financial services, while maintaining enterprise-grade governance and regulatory compliance across MENA.

MUHIDE, a Saudi-based fintech startup, has closed a Series A funding round with Asyad Group for an undisclosed amount. Founded in 2023, MUHIDE focuses on authenticating and governing B2B trade transactions and will use the capital to expand its team, enhance its platform, and advance its goal of building Saudi Arabia’s first unified trade ecosystem.

Mersal Media Capital, a Saudi-based media-focused investment platform, has raised SAR 5 million (USD 1.3 million) in its first funding round, led by an undisclosed private investment fund. Founded by Abdulwahid Alhumaid and Anas Al Humaid, the company targets scalable digital media assets and will use the funding to support growth, strengthen operations, and build strategic partnerships across the regional media ecosystem.

Shorooq has launched a $200 million late-stage growth fund under its Qatalyst Series, backed by Qatar Investment Authority and other sovereign and institutional investors. Announced at Web Summit Qatar, the fund targets late-stage and pre-IPO companies with proven scale, strong fundamentals, and clear exit pathways, aiming to fill the region’s gap in consistent institutional late-stage capital as the GCC enters a new technology and liquidity cycle.

Shorooq has signed an MOU with PayLater, Qatar’s first QCB-licensed, Sharia-compliant BNPL provider, during Web Summit Qatar to explore structuring a scalable, institutional-grade credit facility. The potential transaction would provide non-dilutive, Sharia-compliant capital to support PayLater’s next growth phase, while reinforcing Shorooq’s position in structured credit for regulated fintech platforms.

Shorooq announced that Hamad Al-Hajri, Founder of Snoonu, will invest across two of its flagship strategies: its late-stage growth fund backed by the Qatar Investment Authority and its global AI fund supported by Presight–G42. The move strengthens Shorooq’s positioning in late-stage growth and AI, reinforcing Doha’s role as a strategic hub in the GCC’s technology ecosystem.

CedarBridge Partners has begun deploying capital from its third private equity fund, CedarBridge High Growth III (CBHG III), targeting platform investments across education, healthcare, beauty, wellness, and consumer services in the GCC. The fund, managed by Access Bridge Ventures, completed its first close in November 2025 and is targeting a total fund size of $150 million, with final close expected by end-2026.

Saudi Central Bank (SAMA) has granted initial approval to establish Rafd Integrated, a micro consumer finance company backed by Jarir Marketing (49%), Aman Holding (41%), and Hamad bin Suleiman Al-Manea & Partners (10%), with a capital of SAR 50 million, pending completion of regulatory requirements.

Flow Angels has launched as a structured angel investment network under Flow Ventures, focusing on Pre-Seed and Seed-stage startups through deal-by-deal syndicate investments. The initiative aims to bridge the early-stage funding gap by combining angel agility with VC discipline, while providing capital, strategic guidance, and regional expansion support—particularly into GCC markets—for Palestinian-founded startups.

Ruya Partners is seeking to raise $400 million for a private credit fund focused on Saudi Arabia and the GCC, aiming to address financing gaps for mid-market companies. Backed by the Public Investment Fund, the fund highlights growing regional demand for non-bank, flexible financing aligned with economic diversification efforts.

BlueFive Capital has closed Onyx Fund I, a $3 billion ADGM-registered fund targeting technology and growth equity investments in the U.S. and Europe, with a focus on AI, biotech, and advanced computing. Backed by GCC sovereign capital, the fund will pursue innovation-led opportunities, with initial U.S. tech and biotech investments expected in the near term.

Overall, the region is shifting from early growth to disciplined scaling, where capital, regulation, and execution increasingly determine long-term winners.