Saudi Arabia’s tech scene celebrates a new Ninja Unicorn as quick-commerce startup Ninja reaches a $1.5 billion valuation. The Riyadh-based firm secured $250 million in funding, led by Riyad Capital, marking a milestone for the Kingdom’s startup ecosystem.
Founded in 2022 by Saud Al Qahtani and Canberk Donmez, Ninja Unicorn delivers groceries across Saudi Arabia, Bahrain, Qatar, and Kuwait. The fresh capital will fuel logistics upgrades, regional expansion, and preparations for a potential 2027 IPO on the Saudi Exchange.
Meanwhile, Jadwa Investment led a $50 million round for PetroApp, a digital fuel and fleet management platform. The startup, founded by Abdulaziz Al-Senan, streamlines corporate payments and aims to expand internationally.
In the AI space, career guidance platform Flawless raised $1.5 million in pre-seed funding. Founder Shaimaa Al-Ghamdi leverages generative AI to help users make data-driven career decisions.
Dubai’s Byzanlink also joined the funding wave, securing $1 million for its blockchain-based asset tokenization platform. CEO Anbu Kannappan plans to enhance financial transparency through decentralized technology.
Additionally, UAE-based Idea-L raised $1 million to automate venture creation using AI and Web3 tools. The startup helps entrepreneurs transform ideas into investor-ready businesses.
In Iraq, InstaBank secured $15 million to launch digital banking services, targeting financial inclusion. EQIQ, a UAE venture builder, contributed $3 million to modernize Iraq’s banking infrastructure.
Egypt’s AgriCash closed a seed round to scale its AI-powered agri-fintech platform. The startup offers farmers financing, insurance, and market access, aiming for $60M+ in business volume by 2025.
With Ninja Unicorn leading the charge, Saudi Arabia solidifies its role as a MENA tech hub. Vision 2030’s push for diversification continues to attract global investors, fostering innovation across sectors.
