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This week’s investment landscape in the Middle East and North Africa (MENA) was led by Egypt-based proptech platform Nawy, which secured significant Series A equity funding aimed at scaling operations, enhancing its technology stack, and accelerating regional expansion. The round was led by Partech and joined by e& Capital, March Capital, VKAV, DPI via Nclude, VentureSouq, and Shorooq Partners, among others. Nawy also secured additional debt financing from top Egyptian banks to support the growth of its mortgage product, Nawy Now.
Founded in 2019 by Mohamed Abou Ghanima, Abdel-Azim Osman, Ahmed Rafea, Aly Rafea, and Mostafa El Beltagy, Nawy offers a comprehensive real estate ecosystem including mortgage financing, fractional ownership (Nawy Shares), asset management (Nawy Unlocked), and a B2B brokerage platform (Nawy Partners). This latest round marks over three years since their previous seed funding, led by the Sawiris family office, and underscores their ambitions for technological and regional growth.
On the Artificial Intelligence front, Saudi-based construction tech company WakeCap captured a sizable Series A round led by UP.Partners, with participation from Graphene Ventures and other global investors. Founded in 2017 by Hassan Albalawi and Ishita Sood, WakeCap uses sensor-powered platforms to provide real-time visibility into construction site safety, productivity, and workforce management, serving high-profile clients such as Aramco, NEOM, and King Salman Park. The fresh capital will drive expansion within Saudi Arabia and into international markets, while further developing analytics and digital integration for the construction sector.
Other Artificial Intelligence startups also drew attention, including UAE-based AqlanX, specializing in Arabic-first AI for process automation and enterprise document management, which landed funding from Lakeba Group’s DoxAI; and Saudi healthtech platform Kilow, integrating tailored treatment plans and AI-powered health tracking, which raised seed funding from Sanabil Venture Studio. The period also saw leading regional venture firms STV and Wyld VC announce the launch of AI-targeted investment vehicles, with STV backed by Google to support early-stage localized AI models and infrastructure, and Wyld VC channeling capital toward MENA-based Artificial Intelligence founders. These developments signal a strong appetite for Artificial Intelligence innovation and capital deployment across the region.
