Better Raises $550K for Men’s Wellness Solutions
A Dubai-based men’s wellness startup called Better has secured $550,000 in pre-seed funding led by the Salica Spring Studios fund, a partnership between Salica Investments and Al Waha Fund of Funds, along with Plus VC (+VC). The funds are to be spent on prescription medicines and supplements, all addressing a couple of sensitive subjects: intimacy and hair loss. Better operates on a subscription model while developing its products locally in the UAE and further fosters an open discussion community where men can be free about discussing health.
PC: OPUS Project
BuyAnyAutoPart Secures $750K to Disrupt Used Car Part Market
BuyAnyAutoPart, a B2B used car part aggregator based in the UAE, closed $750,000 in pre-seed funding from some of its most prominent supporters, including Galadari Brothers and 6G Capital. The funds would be used to sign deals with large multi-brand workshops and expand in smaller garages across the nation. The company aims for dominance in the UAE used car part market and exports its parts to GCC, Central Asia, and Europe. Our objective is to make this company, BuyAnyAutoPart.com, the world’s largest supplier of used car parts through the advantages of the UAE as a global trade center.
Iliad Partners Launches $50M Fund for Tech Startups
Iliad Partners is a venture capital firm in the United Arab Emirates that recently started the Iliad Partners Tech Ventures Fund I, funded by a $50 million investment by Saudi Arabia’s Public Investment Fund through Jada Fund of Funds. It’s focused on early-stage B2B software startups mostly operating within fintech, logistics, and proptech spaces, but is primarily located within the GCC, though 10% is reserved for European investments mostly within Greece. Solid backing is being provided through high-profile investors to Innovation and entrepreneurship in the region of MENA by the Iliad Partners Financing.
Astra Tech Secures $500M for Fintech Expansion
The $500 million funding by Citi has been acquired by Dubai-based technology firm Astra Tech for its fintech subsidiary, Quantix Technology Projects. This is the largest financing made so far in the fintech sector of the UAE. This financing will propel the growth of the CashNow platform for instant cash loans and advance Astra Tech’s Ultra app for financial management, shopping, and communication services. Astra Tech is taking the position in the MENA region for digital financial services by having a user base that is more than 150 million users worldwide.
What a fantastic week for the Dubai startup ecosystem, raising more than $551.3 million in one sector-health and wellness, automotive, fintech, venture capital, or any of so many more. All of these will continue with their development and eventually realize themselves as a global hub for innovation and investment; indeed, some of them surely shall thrive in the subsequent years.
