Global Ventures, a UAE-based venture capital firm, has launched a $100 million fund dedicated to investing in early-stage AI startups. The fund, named GV AI, will target companies in the MENA region, North America, and Europe. It aims to support startups developing AI solutions across various sectors. Why it matters: The new fund signals increasing investor confidence and interest in AI innovation within the UAE and surrounding regions.
Red Sea Farms, a Saudi AgTech company based at KAUST, secured a $10 million venture capital investment from Saudi and UAE investors. Their technology enables commercial farming using primarily saltwater, reducing freshwater consumption by 85-90%. The funding will be used to expand operations in Saudi Arabia, building more than six hectares of commercial farming facilities. Why it matters: This investment signals growing interest in sustainable AgTech solutions within the Gulf region to enhance food security and combat supply chain disruptions.
King Abdullah University of Science and Technology (KAUST) and SAB concluded the showcase for the ninth cohort of the TAQADAM startup accelerator. The program supported 20 ventures from 13 countries across 12 industries over six months, preparing them to scale within Saudi Arabia. Each participating startup received $40,000 in non-dilutive funding, with the top 10 securing an additional $100,000. Why it matters: This initiative fosters entrepreneurship, supports the commercialization of research, and attracts international innovation into Saudi Arabia, aligning with the Kingdom's Vision 2030 goals.
KAUST, VentureSouq, startAD, and Tamkeen have partnered to launch the first Conscious Investor Fellowship in the GCC. The six-week virtual program aims to enable regional investors to create sustainable change through high-impact investments. The fellowship will host 25 investors from family offices, corporations, and government entities. Why it matters: The program aims to empower mission-driven investors in the region and accelerate investment in technology-driven startups addressing societal, economic, and environmental challenges.