The UAE-based fintech KLAIM led the funding activity in the Middle East and North Africa (MENA) region this week, raising a double-digit growth round. Other notable startups that secured capital included Turkish camera manufacturing company Buyutech, which received funding from Türkiye Development Fund.
Several early-stage companies, including UAE-based wellness company Longevity Wellness Hub, Saudi proptech startup Ajras, e-commerce platform Aya, and Moroccan superapp ORA Technologies, also raised funds.
Additionally, the UAE-based venture capital firm Phoenix Venture Partners marked the first close of its $50-million Phoenix Venture Partners Innovation Fund CEIC (PVPIF), securing commitments from family offices and high-net-worth individuals. The fund aims to support early-stage startups across sectors such as fintech, healthtech, edtech, agri-foodtech, logistics and mobility, sustainability, and consumer tech.
Buyutech, a Turkish high-tech camera design and manufacturing company, secured funding from Türkiye Development Fund (TDF) to scale its business.
Founded in 2011 by Ömer Orkun Düztaş and Alparslan Işıklı, Buyutech provides camera and ADAS solutions for the automotive industry. The company has partnered with various OEMs in the mobility sector.
Buyunet plans to use the new investment to expand its R&D activities, increase production capacity, and enter new sectors and international markets. TDF, established in 2019 by the Development and Investment Bank of Türkiye, will deploy from its Technology and Innovation Fund.
Longetivy Wellness Hub
The UAE-based wellness company Longetivy Wellness Hub raised $4 million in funding from undisclosed investors to support its geographical expansion.
Founded in 2019 by Dani Afiouni, Longetivy Wellness offers alternative wellness solutions such as hyperbaric oxygen therapy, red light therapy, and advanced quantum-based treatments.
The company plans to use the new funding to further expand across the Gulf region.
Ajras
Saudi proptech startup Ajras, which offers flexible payment solutions for landlords and tenants, raised $1.5 million in a pre-Series A round to enhance its product offering. The round was led by business incubator Veda Holding. This follows a $28-million seed funding round raised a year-and-a-half ago, led by Madarek International in a mix of debt and equity capital.
Founded in 2022 by Muath Aljubailan, Abdullah Al Qarni, Ahmed Al Tamimi, Suleiman Aljarbou, and Suhail Al Tamimi, Ajras primarily serves retail businesses, enabling them to pay their annual rent in installments for better cash flow management. Recently, the company introduced a “rent now, pay later” solution.
Aya
Saudi Arabian e-commerce platform Aya has secured $1.6 million in seed funding, led by Khwarizmi Ventures, to expand its market presence. Other participants in the round included Raed Ventures, Joa Capital, FENA Holdings, Turki Alrajhi, and a group of angel investors.
Founded in 2024 by Munira Al Kadi and Abdulrahman Al Ammar, Aya forecasts fashion trends and connects local producers with current demand to ensure the production of only the most popular styles. The investment will be used to accelerate product development, expand market presence, and enhance the platform.
KLAIM
The UAE-based fintech KLAIM raised $10 million in a Series A equity funding round, led by Mad’a Investments, to support its expansion. The round also saw participation from CDG Invest, and KLAIM secured an additional $16 million in financing from Tharawat Tuwaiq Financial Company.
Founded in 2019 by Karim Dakki and Ghafoor Ahmad, KLAIM offers working capital solutions for healthcare SMEs to ease cash flow challenges. The funds will be used to expand operations, enhance technology, and build partnerships with key financial institutions, insurers, and healthcare providers. In 2022, KLAIM raised $5 million in a seed round led by Knuru Capital.
ORA Technologies
Moroccan superapp ORA Technologies raised $1.9 million in a pre-Series A round, led by Witamax & Azur Innovation Fund, to accelerate growth on its platform. This funding follows a $2.5-million seed round raised a year ago from local private investors to launch its e-wallet.
Founded in 2023 by Omar Alami, the ORA app offers a range of features, including peer-to-peer transactions, e-commerce, on-demand services, chat functionality, social networking, and an upcoming digital wallet.
The company plans to use the investment to scale its food delivery feature, Kooul, and accelerate the rollout of its new digital payment and money transfer solution, ORA Cash.