MedIQ, a health tech platform based in Pakistan, raised $6 million in Series A funding to expand its operations across the GCC. With the backing of Rasmal Ventures and Joa Capital, MedIQ aims to strengthen its tech stack and scale in Saudi Arabia, Qatar, and neighboring markets.
The MENA telecommunications market is set for steady growth through 2035, with a CAGR of +0.8% in volume and +1.7% in value. Key drivers include demand for telecommunications instruments, with Turkey, Iran, and Saudi Arabia leading consumption. Production and imports also showed growth, while exports declined in 2024.
A GSMA report urges MENA policymakers to implement urgent reforms to unlock mobile investment, which is projected to contribute over $200 billion to the region’s GDP by 2030. The report highlights challenges like restrictive licensing and high taxes, recommending five key reforms to drive mobile network growth and digital transformation.
The MENA mobile market is projected to reach $360 billion by 2030, driven by mobile internet use, mVAS services, and rapid 5G adoption. With growing local content and network investments, the region faces challenges like connectivity gaps and regulatory issues but remains a key growth market for mobile services.
NymCard has raised $33 million in Series B funding, led by QED Investors, to enhance its embedded finance platform across MENA. The investment will strengthen its payment infrastructure solutions in card issuing, embedded lending, and money movement. NymCard’s modular APIs empower businesses to innovate and scale across diverse markets.
Xsolla has expanded its payment options in the MENA region, introducing 11 local payment methods across Egypt, Saudi Arabia, Jordan, and Bahrain. This expansion addresses challenges such as limited payment accessibility and strengthens the company’s ability to support the fast-growing gaming market in the region, enhancing revenue opportunities for developers.
stc Group has become the first MENA operator to join the Bridge Alliance API Exchange (BAEx) to integrate telecom APIs into its digital products. The partnership will focus on enhancing IoT offerings, including connected car technology, and streamline access to telecom APIs, reducing complexity for enterprise customers in Saudi Arabia, Bahrain, and Kuwait.
Taager, a leading social e-commerce platform in the MENA region, has raised $6.75 million in pre-Series B funding to expand its offerings. The funding will help the company scale its operations, provide better tools and insights for social sellers, and grow its presence across the MENA region.
MENA’s e-commerce market has surged by over 30% in 2024, driven by digital initiatives like Saudi Arabia’s Vision 2030 and the UAE’s Digital Economy Strategy. The growth is creating both opportunities and challenges for logistics providers, who must innovate with automation, regional fulfilment centres, and real-time tracking solutions.
Meta AI is now fully available across key MENA markets, including the UAE, Saudi Arabia, Egypt, Morocco, and Iraq. The AI assistant is integrated into Meta’s apps and offers features like text generation, image creation, and support for Arabic. The rollout includes educational initiatives and plans for advanced tools.
