In our weekly funding roundup reports, we bring you the latest and most exciting funding news from the vibrant business landscape of Dubai. This week, we highlight significant investments in the F&B, fintech, and investment management sectors.
PC: Marquee Equity
Watermelon Ecosystem Garners $4 Million in Series A Funding
Watermelon Ecosystem, an F&B startup based in Dubai, UAE, has closed its Series A funding round at $4 million. Leading investors have led the funding round, with Daman Investments as the exclusive Fundraising Advisor. On the back of this new capital raise, Watermelon Ecosystem’s post-money valuation is now $29 million.
The fresh funds will be used to expedite the growth of both local and regional markets. Moreover, this will also increase the technology offerings and market presence of the startup. Watermelon Ecosystem has a lot of goals in its all-in-one comprehensive ecosystem to drive efficiency, transparency, and sustainability for the clients in the F&B Industry.
Watermelon Ecosystem technology-driven solutions and financial tools permit F&B players to establish strong relationships across the supply chain, thereby empowering operational capabilities in the UAE.
Franklin Templeton Expands Middle East Presence with Seven Feeder Funds
Franklin Templeton Investment Management, a global investment management firm, is eyeing an expansion in the Middle East with seven feeder funds about to be launched in the UAE. These funds are targeted at attracting retail investors in the region and meeting new regulations. The feeder funds will offer investors a route into various asset classes, sectors, and geographies.
Feeder Funds for Retail Investors
These feeder funds will be offered to retail investors in the UAE from Monday and will be domiciled in the Dubai International Financial Centre (DIFC). They will be distributed through local licensed promoters, providing a regulated and convenient route for investment exposure around the world.
Diverse Investment Opportunities
The newly launched feeder funds will cover a wide range of investment options, including:
- Global and Regional Fixed Income: It provides access to fixed-income instruments from various regions for stability and potential steady return.
- Technology: Investment funds that target the exponential growth of technology sectors and provide access to new companies and new technologies.
- Shariah-compliant Strategies: These are investment options that conform to Islamic financing principles and, therefore, meet the demands of an investing Muslim.
Aleta Planet Secures Significant Investment from Dubai-based National Pulse
On August 1, 2024, Aleta Planet, one of the key Fintech firms, announced substantial investment from Dubai-based National Pulse. The exact amount of the investment would remain under wraps, but it would be utilised in setting up various JVs and expansion of operations in the UAE.
According to Ryan Gwee, founder and group chairman of Aleta Planet, this investment comes at a time when the UAE is continuously improving its digital and financial services environment. This came after the Central Bank of the UAE rolled out Open Finance Regulations, requiring banks to share customer data with fintechs in a move that requires customer consent. This will inevitably increase growth in Fintech as more data is placed, increasing trust and transparency.
Conclusion
This funding round epitomises the dynamic, pulsating business environment of Dubai. Large-ticket investments into F&B, Fintech, and Investment Management underline Dubai’s continued ability to attract serious capital while incubating innovation.
The $4 million Series A funding for Watermelon Ecosystem will fuel growth and technology innovation in the F&B space. At the same time, seven feeder funds, recently launched by Franklin Templeton, are likely to give retail investors in the Middle East access to diversified and regulated investment opportunities. Meanwhile, a new investment by National Pulse underscored the dynamically developing fintech landscape, impetus for which comes from the progressive regulations of the UAE’s Central Bank for Aleta Planet.
These investments underline the fact that Dubai is a city of self-declared ambitions to be a global centre in technology and finance, with its commitment toward economically growing and embracing its future.
