May was a striking month for MENA startups in terms of funding rounds, just the 10 most prominent rounds raised investments totaling to almost $460 million.
Startups in UAE and Egypt particularly raised the largest share of funds with Kitopi coming in the top with having raised $300m in a Series C round. Kitopi is a UAE-based cloud kitchen operator that offers cloud kitchen services, sourcing ingredients, aggregating orders, preparing and delivering meals for restaurant brand owners.
Egypt’s Paymob, an omni-channel merchant financial services platform, raised $50 million in a Series B funding round. Instabug, Egypt’s mobile monitoring, crash and bug reporting solution for mobile teams, raised $46 million in a Series B funding round.
Sylndr, Egypt-based online used-car e-commerce retailer, raised $12.6 million in a pre-seed round. Pemo, a UAE-based FinTech startup, raised $12 million in a seed round. UAE-based startups Cashew and Northladder both raised $10 million each.
Mylerz, Egyptian last-mile delivery and e-commerce fulfillment innovation startup, raised $9.6 million. RedBox, another e-commerce and smart lockers platform based in Saudi Arabia, raised $5 million in a pre-series A funding. KRUSH Brands, raised $4.5 million in a pre-series A round for its recently launched Locale, a curated online marketplace for local food brands.
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