Weekly Market Highlights

18th of December 2025

This week brought a strong wave of momentum across the MENA startup ecosystem, with founders securing record-breaking rounds, launching new programs, and deepening global expansion from Algeria’s largest startup raise to Saudi-UAE unicorns gearing up for IPOs and new AI initiatives bridging MENA and Silicon Valley.

Algeria-based travel-tech startup VOLZ has raised $5 million in a Series A round led by Tell Group, with participation from Groupe GIBA. Founded in 2023, VOLZ enables travellers to book flights in dinars with online or cash-on-delivery payment options, while comparing multiple airlines on one platform. The funding will support product expansion, strengthen its presence in Algeria, and fuel growth across North and West Africa.

Egypt-based AI ethics platform iVoiceUp raised funding led by A15 to expand across Egypt, Saudi Arabia, and the UAE.Founded in 2019, it enables organisations to detect and manage misconduct like fraud and harassment through an AI-powered whistleblowing system. The funding will support regional growth and new AI features such as Anonymous Video Interviewing.

Saudi Arabia and UAE-based e-commerce platform noon has raised $500 million from existing investors, including the Public Investment Fund (PIF) and founder Mohammed Alabbar, as it prepares for a potential IPO. Founded in 2016, noon operates e-commerce, grocery, and food delivery services across Saudi Arabia, the UAE, and Egypt, positioning itself as a regional alternative to Amazon. The company has raised $2.7 billion to date and was last valued near $10 billion, with the latest funding coming amid growing competition from Amazon, Meituan, and Ninja.

Propeller has launched Kernel Camp, an eight-week AI infrastructure and deep-tech residency for early-stage founders from the MENA region, set to run in San Francisco in April–May 2026. The programme offers fully sponsored housing, mentorship, and a demo day with Propeller’s Silicon Valley network, targeting technically strong founders building demo-ready products. Kernel Camp follows the launch of Propeller’s $50 million Fund III, reinforcing its mission to bridge MENA and U.S. deep-tech ecosystems and position regional founders for global scale.

UAE-based Relik, an AI-powered authentication platform, has raised a seed round from KBW Ventures, Naatt Holding, Fort Holding, and Ayman Sejiny. Founded in 2023 by Walid Tarabih and joined by John Tsioris (InstaShop founder), Relik uses AI and security tech to verify the authenticity of collectibles, art, and cultural assets, eliminating the need for chips or QR codes. The funding will accelerate the rollout of Relik Vault, its tamper-proof authentication system, and support expansion into sports, luxury, and heritage markets.

UAE-headquartered Premialab, a global data, analytics, and risk management platform for quantitative investing, has raised $220 million in a growth round led by KKR, with participation from Balderton. Founded in 2016 by Adrien Géliot and Pierre Trecourt, Premialab serves the $800 billion Quantitative Investment Strategies (QIS) market, offering benchmarking, performance analysis, and risk analytics for institutional investors. The funding will support global expansion, enhance core systems, and scale its execution product developed with Eurex to expand access to QIS strategies. The investment marks KKR’s first tech growth deal in the Gulf region.

Stay tuned for next week’s round of funding news, product launches, and ecosystem insights across the region.