Weekly Market Highlights

19th of February 2026

This week’s developments highlight continued momentum across MENA, U.S., and European technology markets. Investments, acquisitions, and AI-led initiatives reflect sustained capital deployment into scalable digital platforms, enterprise technologies, and AI-driven infrastructure.

AngelSpark has invested in UAE-based B2B fintech XSquare, with the transaction value undisclosed. The funding will support product expansion, infrastructure scaling, and enhancement of automated financial operations, strengthening XSquare’s unified platform for banking, payments, invoicing, payouts, and ERP reconciliation.

Singapore-based business services platform Ascentium has acquired UAE-based regtech and corporate service provider Clara, with the transaction value undisclosed. The acquisition strengthens Ascentium’s Middle East presence through Clara’s established operations in ADGM and DIFC, while enabling Clara to leverage Ascentium’s global platform, enhanced service capabilities, and investment capacity.

Impact46 has led a $16M (SAR 60M) Series A investment in Saudi-based fintech CASHIN. The funding will support network expansion across fuel stations, enhancement of AI and advanced analytics capabilities, and deeper ecosystem integrations, strengthening CASHIN’s unified platform connecting financial and operational workflows for fuel station operators.

Ajeej Capital’s Amplify Growth Fund has provided a strategic growth credit investment to UAE-based AI contact centre platform ZIWO, with the transaction value undisclosed. The funding will support GCC expansion, deeper regional integrations, and accelerated deployment of advanced AI automation and voice intelligence capabilities, following strong enterprise adoption and 6.6x revenue growth since its Series A round.

Afaq Capital has led a $25.5M (SAR 95M) pre-Series A investment in Saudi-based fintech Madfu, with participation from angel investors. The funding will support merchant network expansion, technology infrastructure enhancement, and development of new Sharia-compliant financial products, strengthening Madfu’s position in Saudi Arabia’s growing BNPL and digital payments ecosystem.

Sharaka Capital has led a $2.4M seed investment in Saudi-based cybersecurity startup Solidrange, with participation from Sadu Capital, SEEDRA Ventures, and Tali Ventures (stc). The funding will support regional expansion, product and technical development, and deeper AI integration across Solidrange’s GRC automation and cybersecurity awareness platforms.

Mubadala Investment Co., alongside SBI Investment Co., Olayan Financing Company, a Saudi billionaire family, and other institutional investors, has backed a $50M pre-Series C investment in Egypt-based e-commerce platform Breadfast. The funding will support infrastructure expansion, logistics scaling, and regional growth initiatives ahead of a larger Series C round expected in H1 2026.

Emirates NBD has led an oversubscribed $31M Series B investment in UAE-based proptech platform Stake, alongside Mubadala, MEVP, Property Finder, STV NICE, Wa’ed Ventures, GFH Partners, and Ellington Properties. The funding will support Saudi Arabia expansion, cross-border scaling, and advancement of regulated tokenisation initiatives as Stake accelerates global growth.

Egypt’s ITIDA announced the launch of its national large language model Karnak, positioned as part of the country’s public digital infrastructure. The initiative forms part of Egypt’s IMPACT AI framework, supporting sovereign AI capabilities, government service integration, healthcare diagnostics, and workforce upskilling, as Egypt strengthens its role in Arab and African AI ecosystems.

Luma AI has expanded into Saudi Arabia with the opening of a Riyadh office, supporting Arabic AI model development and AI-generated content initiatives via HUMAIN Create. The company also announced a strategic partnership with Publicis Groupe Middle East, strengthening adoption of AI-driven video and creative production technologies across the region.

Humain announced plans to launch Humain OS, positioning Saudi Arabia as one of the first nations to commercialise a proprietary AI-based operating system globally. The initiative complements Humain’s broader strategy to build gigawatt-scale AI data centre infrastructure, backed by global clients and strategic partnerships, reinforcing the Kingdom’s ambition to become a leading AI and computing hub.

Qatar Investment Authority (QIA) joined Apptronik’s $520M Series A-X extension, bringing total funding to approximately $1B. The investment will accelerate production and global deployment of the humanoid robot Apollo™, supporting expansion across manufacturing, logistics, and future real-economy applications.

WHOOP partnered with Unilabs to launch WHOOP Advanced Labs in the UAE, enabling members to integrate a 65-biomarker blood panel with continuous wearable data. The offering supports deeper health insights and personalised analytics, reflecting growing regional demand for tech-enabled health and longevity solutions.

U.S.-based Emergence acquired 100% of Dubai-based automotive AI platform AlgoDriven, with the transaction value undisclosed. The deal supports AlgoDriven’s expansion into the U.S. and Latin America while enabling exits for existing investors, reinforcing demand for AI-driven solutions in the global used vehicle market.

MENA-based edtech group Baims has acquired Iraq-based medical education platform MedMasters, marking its entry into the Iraqi market. The acquisition expands Baims’ regional footprint and strengthens its digital higher education offering, with MedMasters continuing under its existing academic identity while benefiting from Baims’ operational support, scale, and tutoring capabilities.

Egypt-based technology company AntX acquired EdTech startup Magnum Egypt, strengthening the integration between R&D capabilities and technical talent development. The transaction underscores the growing maturity of Upper Egypt’s startup ecosystem and supports expansion of robotics and electronics education solutions.

Jordan-based early-stage investor Oasis500 launched its fourth investment fund exceeding $20M, targeting technology startups and scalable business models. The move reinforces Jordan’s growing role as a regional entrepreneurship hub and expands Oasis500’s early-stage investment capacity.

Rubix Holding launched Rubix Studio, Qatar’s first institutional startup studio, in partnership with Qatar Development Bank and Rasmal Ventures. The initiative introduces a venture-building model focused on creating revenue-ready, scalable startups, strengthening Qatar’s innovation ecosystem and supporting economic diversification objectives.

TLcom Capital led a $12.6M Series A investment in Egypt-based e-commerce enablement platform Flextock, alongside regional and international investors. The funding will support platform enhancement and operational expansion across Egypt and Saudi Arabia, strengthening Flextock’s integrated logistics and merchant operating infrastructure.

Vision Ventures joined the Pre-Seed round of Saudi-based AI infrastructure startup DEEP.SA, alongside existing investors TAM Hub and Raed Ventures. The investment will support expansion of local AI infrastructure and development of Saudi-hosted AI models, reinforcing digital sovereignty initiatives.

Anthropic raised $30B in Series G funding led by GIC and Coatue, valuing the company at $380B post-money. The investment will support frontier AI research, product development, and infrastructure expansion, as Anthropic reports $14B run-rate revenue and strong enterprise adoption driven by Claude and Claude Code.

European enterprise AI platform Contents closed a $7M Series B extension backed by Qatar Development Bank and Alkemia Capital. The investment supports expansion into Arabic-speaking markets, strengthening Contents’ AI orchestration and enterprise workflow capabilities across the GCC and MENA.

Morocco-based legaltech startup Charikaty secured a MAD 1.5M investment on 2M’s startup investment show. The funding will support technology enhancement and national expansion as Charikaty strengthens its digital business formation and compliance services within Morocco’s growing entrepreneurship ecosystem.

Bluefive Capital invested $50M in Abu Dhabi-based AI solutions company Origen. The funding will support product development, partnership expansion, and scaling of AI-driven operational solutions across government services, smart environments, and advanced manufacturing.

Overall, the activity underscores a broader global shift toward AI-enabled business models, fintech infrastructure, and operational technologies. Strong participation from sovereign funds, institutional investors, and strategic corporates signals long-term confidence in technology-driven growth across regional and international markets.