FoundersOasis

Dubai could have a $5 billion (AED18 billion) moon building in the form of destination resort, Canadian architectural company and intellectual property licensor, Moon World Resorts Inc. (MWR) told Arabian Business. Proposed and co-founded by Sandra G. Matthews and Michael R. Henderson, the resort is designed to be built in 48 months, and will have an […] More

Dubai real estate developer Emaar will sell its fashion e-commerce platform Namshi to Noon for $335.2 million. Emaar, which is listed on the Dubai Financial Market, stated that its board of directors had in principle approved the sale of Namshi, subject to the approval of Noon’s board of directors. Emaar’s founder and chairman, Mohamed Alabbar, […] More

Saudi Arabia-based fintech Tamara has raised $100 million in a Series B equity round from investors including Sanabil Investments, Coatue, Shurooq Partners, Endeavor Catalyst and existing investor Checkout.com. Founded in 2020 by Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain, Tamara is a buy now pay later (BNPL) offering that allows consumers to buy a […] More

UAE-based logistics startup Cargoz has secured pre-Seed funding for unknown amount from Nama Ventures Founded in January 2022 by Premlal Pullisserry and Lijo Antony, Carogz connects SMEs looking for warehousing space with warehousing companies that have extra capacity. Cargoz will use the new funding to back its expansion plans across the UAE by the end […] More

UAE-based neobank Zywa, has raised $3 million in a Seed round from Goodwater Capital, Dubai Future District Fund, Rebel Fund, Trampoline Venture Partners, Zemu VC, alongside some angel investors. Founded in 2021 by Alok Kumar and Nuha Hashem, Zywa offers a gamified community-based banking app and payment card to Gen Z between the age of […] More

UAE-based proptech Stake, has secured $8 million in pre-Series A funding round, backed by MEVP and BY Ventures, with participation from returning investors Vivium Holding and Combined Growth Real Estate. Founded in 2020 by Rami Tabbara, Manar Mahmassani, and Ricardo Brizido, Stake is a digital real estate investment platform providing options for income-generating properties in […] More

The Abu Dhabi National Oil Company (ADNOC) announced yesterday that it had been given a contract worth 4.3 billion dirhams ($1.17 billion) to lease 13 self-propelled platforms. This will help the company’s offshore operations run more efficiently and will help it reach its goal of increasing its capacity to produce five million barrels of crude oil per day. More

Saudi Energy Company, announced on Thursday that it has secured more than $3.56 billion in funding to support both its long-term expansion and the Saudi Arabia-Egypt electricity connectivity project. More

Leading blockchain technology company NMKR has teamed up with NewTek Holdings to integrate real-world assets into Web3, starting with high-end real estate developments in Dubai. More

Beyond is the new approach of the Saudi Electronic Information Exchange Company (TABADUL) that offers cutting-edge digital and fintech services to the business and logistics sectors. More

The foremost employee benefits platform in the UAE, Bayzat, has received financial support from Mohammed Bin Rashid Innovation Fund (MBRIF), an initiative started by the UAE Ministry of Finance to encourage innovation across the country, as part of its Guarantee Scheme. More