RIYADH: Strategic investments, product launches and expansion plans by companies across Saudi Arabia, the UAE, and Egypt, were all announced this week, alongside funding rounds and a regional investor’s participation in a Canadian AI startup.
Saudi Arabia-based insurance tech startup DESAISIV has launched its Fair Market Pricing Engine, an artificial intelligence-driven solution designed to help enterprises make data-driven decisions on corporate health insurance pricing.
The company said the platform uses AI and advanced analytics to benchmark insurance pricing, assess policy performance, identify cost-saving opportunities and improve healthcare benefits management through real-time insights.
Founded in 2022 by Sa’ed Khawaldeh and Mohammad Nabhan, DESAISIV has raised more than $8 million to date and serves over 600 organizations, managing corporate health insurance portfolios valued at more than SR2 billion ($540 million) across the Middle East and North Africa.
UAE fintech Epic Markets raises $10m in pre-seed round
UAE-based fintech Epic Markets has raised $10 million in a pre-seed round from Karatage, the round’s sole investor, to develop a multi-asset brokerage platform for retail investors.
Founded in 2026 by Kevin Kimmel and Brian Seegers, the startup is building a platform intended to provide individual investors with institutional-grade trade execution and professional trading infrastructure across multiple asset classes.
The funding will support product development and platform expansion as the company seeks to narrow the gap between institutional and retail trading experiences.
Egypt’s Simplex opens second factory, starts work on third
Egyptian CNC manufacturing startup Simplex has inaugurated its second manufacturing facility in 10th of Ramadan City, spanning 40,000 sq. meters and involving investments totaling $50 million, while beginning construction of a third factory.
Founded in 2013 by Ahmed Shaaban and Mohamed Mansour, Simplex designs, assembles and manufactures computer numerical control machines for industrial applications.
The company also signed partnership and agency agreements in Jordan and Kuwait to strengthen its regional presence.
In January 2025, Simplex raised $13 million in a round led by Saudi Arabia’s National Industrial Development Center.
Saudi game studio Ash Games raises $1.5m seed round
Saudi Arabia-based game development studio Ash Games has raised $1.5 million in seed funding, co-led by Merak Capital and Impact46 through the Merak Gaming Fund, to support its global expansion.
Founded in 2022 by Anas Bakhsh, Yaser Al-Ahmadi and Saud Bakolka, Ash Games develops PC and console action-adventure titles inspired by Saudi culture, history and mythology.
Its flagship title, Nomad, is scheduled for release on PC, PlayStation and Xbox in 2027.
The funding will support game development, team expansion and international publishing efforts.
Syrian health tech DoctorBook raises $16k in pre-seed funding
Syria-based health tech startup DoctorBook has raised $16,000 in pre-seed funding to accelerate the digitization of medical appointment bookings and healthcare services in Syria.
Founded in 2026 by Abdulrahman Al-Jandali and Abdulrahman Al-Khateeb, DoctorBook operates a platform that connects patients with healthcare providers, allowing users to search for doctors, book appointments and access services online.
The company will use the capital to enhance its technology, expand its provider network and improve the user experience.
BY Venture Partners joins $2m round for Canadian AI startup ChatFeatured
UAE- and Lebanon-based BY Venture Partners has participated in an oversubscribed $2 million pre-seed round for Canadian AI startup ChatFeatured, alongside Storytime Capital and Garage Capital.
Founded in 2026 by Farris Nasr and Nithiiyan Skhanthan, ChatFeatured develops an answer engine optimization platform that helps brands improve visibility across AI-powered search platforms, including ChatGPT, Gemini and Perplexity.
The startup will use the funding to expand its team, accelerate go-to-market efforts and develop autonomous AI agents to identify and address AI search visibility issues for marketing teams.
Qatar’s SkipCash secures strategic investment from QIIB
Qatar-based fintech SkipCash has secured a strategic investment from Qatar International Islamic Bank to support its growth and regional expansion. Financial terms were not disclosed.
Founded in 2019 by Mohammed Abdulaziz Al-Delaimi, SkipCash provides digital payment solutions for businesses, including online payment gateways, merchant acquiring, QR payments, payment links, Tap to Phone services and integrated payment technologies.
The investment will support payment infrastructure expansion, product development, merchant ecosystem growth and GCC expansion. SkipCash raised $4 million in a series A round in February.
Jada Fund of Funds backs Growth Catalyst Fund I
Saudi Arabia’s Jada Fund of Funds, owned by the Public Investment Fund, has made its first commitment to Growth Catalyst Fund I, a private equity fund targeting $200 million for investments in growth-stage Saudi small and medium-sized enterprises. Jada did not disclose the size of its commitment.
Led by Turki Al-Dayel, the fund will target founder-led upper-middle-market companies, with flexibility to invest in growth-stage and pre-initial public offering businesses that have outgrown venture capital funding.
Growth Catalyst Fund I aims to help address Saudi Arabia’s estimated SR300 billion to SR500 billion SME financing gap, supporting businesses ahead of potential exits through IPOs, strategic acquisitions or secondary transactions.
Egypt’s Fincart raises $2.8m seed round
Egypt-based e-commerce operations platform Fincart has raised an oversubscribed $2.8 million seed round co-led by Launch Africa and Antler MENAP, with participation from Yango Ventures, Five35 Ventures, Bluestream Capital, Hi2 Global and Kalahari Venture Labs.
Founded in 2023 by Mostafa Masry and Nihal Ali, Fincart provides an AI-powered platform that allows merchants to manage shipping, customer engagement and cash advances through a single interface. The company integrates with more than 40 courier companies across Africa.
Fincart will use the funding to develop its AI platform, expand its team, strengthen partnerships and accelerate expansion across MENA and African markets. It serves more than 450 merchants and has facilitated nearly 1 billion Egyptian pounds ($19.5 million) in gross merchandise value.
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