Weekly Market Highlights

12th of March 2026

This week’s developments signal a decisive move toward institutionalizing the digital economy. From the formalization of AI-driven investment frameworks to high-stakes sovereign entries into space-tech and global asset management, the region is transitioning from being a consumer of technology to a primary architect of global infrastructure and regulated financial ecosystems.

MENA startups raised $327 M across 62 deals in February 2026, led by the UAE, with fintech, e‑commerce, and deep tech attracting most capital. Early‑stage B2B startups dominated, while female‑founded companies received minimal funding.

AMI Labs has reached a $3.5 billion valuation following a strategic investment from Shorooq Partners. The US-based AI startup focuses on developing advanced machine learning models and infrastructure. The funding will accelerate product development and support Shorooq’s strategy of connecting global AI frontier tech with the MENA region’s digital transformation goals.

Muhlah has closed a $7.5 million Seed round led by BIM Ventures with participation from Japan’s SBI Group. The Saudi-based fintech platform focuses on streamlining B2B credit and payment solutions for the F&B and retail sectors. The capital will be deployed to enhance its technology stack and expand its market share within the Kingdom.

TruDoc Healthcare has raised $15 million in a funding round backed by the Al Nahyan and Al Ketbi families. The UAE-headquartered telehealth and primary care provider offers 24/7 virtual and at-home medical services. The investment is earmarked for regional expansion and the integration of AI-driven diagnostic tools to enhance patient outcomes across the GCC.

Rimal Semiconductors has secured a Bridge round from Keheilan Asset Management to scale its operations in Saudi Arabia. The Riyadh-based company specializes in the design of integrated circuits and microchips. The funding supports the Kingdom’s Vision 2030 goals of localizing high-tech manufacturing and establishing a domestic semiconductor ecosystem.

Convertedin has acquired Egypt-based fashion e-commerce platform MITCHA to create an AI-driven retail ecosystem. The acquisition enables Convertedin to integrate its marketing automation technology directly with MITCHA’s merchant network. The move signals a trend of infrastructure providers moving vertically to own the consumer data layer.

Uzum has secured over $130 million in a funding round led by the Oman Investment Authority (OIA). The Uzbekistan-based digital ecosystem will use the capital to cement its status as the country’s first tech unicorn, highlighting Oman's strategy of diversifying sovereign wealth into high-growth Central Asian markets.

Investcorp has launched its second Saudi Growth Investment Fund, a dedicated vehicle targeting mid-market companies in Saudi Arabia. The fund focuses on growth-stage capital for sectors aligned with Vision 2030, such as healthcare and consumer tech, providing the necessary runway for Saudi entities to scale toward potential public listings on the Tadawul.

Vast has received a strategic investment from the Qatar Investment Authority (QIA) as part of a $500 million financing round for the US-based space-tech company. The capital will support the development of Haven-2, a commercial successor to the International Space Station, signaling Qatar's expanding interest in the global space economy.

Infobip has officially opened a new data centre in Saudi Arabia to enhance local data residency and AI-driven communication services. The facility enables Saudi enterprises and government bodies to process sensitive data domestically, directly supporting the Kingdom’s digital sovereignty agenda.

Alpha Wave Global has seen a 50.1% stake acquisition by Judan Financial, a subsidiary of the UAE’s International Holding Company (IHC). This major move strengthens the UAE's global asset management footprint and facilitates capital flows between the US and Abu Dhabi’s investment ecosystem.

Granite has received approval from Egypt’s Financial Regulatory Authority (FRA) to launch a USD-denominated fixed-income fund. The platform focuses on providing digital liquidity management solutions, reflecting Egypt’s maturing regulatory landscape for fintech-driven asset management.

ShipBee has raised $500,000 in a Seed round led by GrowthX Capital to support the digital transformation of Qatar’s logistics sector. The Doha-based startup provides automated shipping solutions aimed at optimizing last-mile logistics for local e-commerce players.

KuCoin has been ordered by Dubai’s Virtual Asset Regulatory Authority (VARA) to cease all unlicensed operations. The enforcement highlights Dubai’s commitment to a strictly regulated crypto ecosystem, requiring global exchanges to comply with local licensing for market access.

CMA has officially adopted the regulatory framework for Robo-Advisory services in Saudi Arabia. The new regulations permit licensed financial institutions to utilize AI algorithms and automated models for portfolio management, asset allocation, and risk analysis. This structural shift follows a massive 87% surge in digital assets under management in the Kingdom, which have now reached SAR 6.41 billion.

CMA as approved the regulatory framework for "Simplified Investment Funds" to enhance market flexibility and reduce operational barriers. These funds are characterized by lower setup and management costs compared to traditional structures, allowing asset managers greater contractual freedom to customize terms, liquidation policies, and reporting mechanisms for specific investor groups.

SDAIA launched a registration service for data providers via the National Data Governance Platform, enabling licenses for auditing, inspection, and certification of personal data. The move enforces the Personal Data Protection Law and creates a regulated market, supporting Saudi Arabia’s 2026 “Year of AI”  initiative.

Together, these developments signal a maturing ecosystem where regulatory clarity and massive capital deployment are converging. As the region solidifies its status as a hub for both frontier deep-tech and institutional finance, the focus has shifted toward creating sustainable, high-growth frameworks that support long-term economic transformation.