Majority Stake Acquisition: Arcapita and Dgpays have jointly acquired most of NEOPAY’s shares, pushing the payment solutions provider’s valuation to around $385 million.
Mashreq Bank’s Ongoing Role: Mashreq Bank, which founded NEOPAY, keeps a notable minority stake, reinforcing its belief in NEOPAY’s growth potential.
Growth Through Expertise: Both Arcapita and Dgpays aim to combine their strengths to boost NEOPAY’s market visibility and deliver innovative payment products across the Middle East.
Surging UAE Market: Industry projections show the UAE’s card transaction value is set to grow at double-digit rates over the next five years, giving NEOPAY ample room to expand and diversify.

Samsung Electronics receives up to $4,745 billion to support two chip production facilities, a research center, and a packaging facility in Texas. 
Texas Instruments has been awarded up to $1,61 billion to fuel over $18 billion in investments through 2029. 
Amkor Technology has been Granted up to $407 million to build an advanced semiconductor packaging facility in Arizona.

Investment Purpose: Drive growth for tech and tech-enabled startups in Saudi Arabia and the MENA region. 
Sectors of Focus: Fintech, enterprise software, and B2B SaaS. 
Funding Stages: Primarily targeting Seed and Series A rounds. 
Alignment with Saudi Vision 2030: Aims to diversify the economy and foster innovation. 
Past Collaborations: Builds on the success of the previous Raed II fund.

AI-Driven Financing: Talaty uses artificial intelligence to simplify credit assessments for SMBs, cutting operational costs and default rates by up to 90%.
Strategic Investors: Witamax and Renew Capital have joined forces to bolster Talaty’s expansion across Morocco and new markets in Francophone Africa.
Bridging the Credit Gap: Talaty’s solutions aim to address the pressing financial needs of SMBs, many of whom face traditional banking barriers.
Local Economic Impact: The company’s growth is expected to spur job creation, foster innovation, and support Morocco’s ambitions of becoming a regional fintech hub.
Future Plans: With additional capital, Talaty intends to refine its technology, expand its reach, and deepen its commitment to responsible lending practices.

Successful lithium extraction: Saudi Arabia has extracted lithium from brine samples sourced from Aramco&#8217;s oilfields.
Commercial pilot program planned: A pilot program for direct lithium extraction is set to commence soon.
Collaboration with Lihytech: The initiative is led by Lithium Infinity (Lihytech), a startup from King Abdullah University of Science and Technology (KAUST), in partnership with Ma’aden and Aramco.
Technological advancements: Lihytech has developed innovative technology to extract lithium from oilfield brines, aiming to make the process commercially viable.
Strategic importance: Lithium is essential for batteries in electric vehicles, laptops, and smartphones, aligning with Saudi Arabia&#8217;s Vision 2030 to diversify its economy.

Initiative led by Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. 
Part of the Dubai Programme to Enable Drone Transportation, initiated in 2021. 
Collaborative effort among Dubai Civil Aviation Authority, Dubai Integrated Economic Zones Authority, and Dubai Future Foundation. 
Successful pilot delivery conducted from Rochester Institute of Technology-Dubai within DSO. 
Plan to extend drone delivery services to 33% of Dubai by 2030.

Project Scope: The terminal will cover approximately 810,000 square meters, featuring capacities of 450,000 TEUs for containers, 5 million tonnes for dry bulk and general cargo, 1 million tonnes for liquid bulk, and Ro-Ro facilities accommodating 50,000 CEUs.
Infrastructure Details: Plans include a 48,000 square meter concrete apron, an 80,354 square meter container terminal, and around 66,360 square meters designated for general cargo and break-bulk operations.
Economic Impact: This development is part of AD Ports Group&#8217;s investment of approximately USD 349 million in Egypt over the past three years, aiming to boost economic growth and enhance trade routes.
Strategic Significance: The terminal is set to become the first internationally operated port serving the Upper Egypt region, enhancing the country&#8217;s maritime infrastructure on the Red Sea.
Leadership Statements: Captain Mohamed Juma Al Shamisi, Managing Director and CEO of AD Ports Group, expressed delight in the partnership, aligning with the UAE&#8217;s vision to strengthen trade ties with Egypt.

Funding Details: Secured $8 million from GMS Capital Ventures.
Company Background: Established in 2024 by Saudi entrepreneur Mohammed Altassan, OmniOps focuses on AI infrastructure solutions.
Technological Innovations: Specializes in energy-efficient, cloud-native high-performance computing (HPC) clusters and is developing a sovereign AI inference cluster with advanced Machine Learning Operations (ML Ops) features.
Strategic Importance: Aligns with Saudi Arabia&#8217;s Vision 2030 and the National Strategy for Data and AI, emphasizing data sovereignty and local content.
Clientele and Partnerships: Trusted by organizations like Saudi Airlines and CNTXT, with collaborations involving NVIDIA, Google Cloud, and IBM.

Official Launch: D360 Bank has commenced its banking operations in Saudi Arabia, following the Saudi Central Bank&#8217;s (SAMA) approval.
Capital Investment: The bank is established with a capital of SAR 1,65 billion (approximately $440 million), funded by a consortium of individual and corporate investors, including the Public Investment Fund (PIF).
Leadership: Derayah Financial Company leads the establishment and management of D360 Bank.
Strategic Alignment: This development aligns with Saudi Arabia&#8217;s Vision 2030, aiming to enhance the digital economy and promote financial inclusion.
Banking Landscape: With D360 Bank&#8217;s addition, Saudi Arabia now has 35 licensed banks, including 11 local banks, 3 local digital banks, and 21 foreign bank branches.

Funding Round Leaders: Co-led by Web3Port Foundation and Aptos Labs.
Additional Investors: Summer Ventures, Heritage Horizon Capital, V2 Capital, Alpha Square Group, Heng Feng Group, Trend Investment, and Bond Group.
Strategic Initiatives: Plans to launch Klickl Labs and Klickl Foundation in Q4 2024.
Expansion Focus: Targeting growth in the Middle East and Africa.
Regulatory Milestone: Licensed by Abu Dhabi Global Market (ADGM) as the region&#8217;s first fully licensed Web3 banking service.

CredibleX has disbursed AED 100 million (approximately $27 million) in loans since its launch in March 2024.
The $55 million seed round includes both equity and debt investments.
Equity investment was led by Further Ventures, with debt participation from Kilgour Williams Capital, Berkley Square Finance, and other local investors.
The company partners with over 35 distribution channels, including Network International and DMCC, reaching more than 100,000 SMEs.
CredibleX aims to expand its services and support a larger number of SMEs in the UAE.

Contract Value: AED 18,7 billion (USD 5,1 billion). 
Duration: 17 years, extending services until 2043. 
New Satellites: Al Yah 4 and Al Yah 5 to launch in 2027 and 2028. 
Advance Payment: AED 3,7 billion (USD 1 billion) for satellite construction. 
Service Coverage: Middle East, Africa, Europe, and Asia.

ReNile provides end-to-end IoT solutions for smart farming, focusing on water, air, and soil quality management. 
Arabian Business Machines, part of the Olayan Saudi Holding Company, specializes in office automation and security solutions within the technology sector. 
The partnership aims to enhance customer support and accessibility for ReNile&#8217;s products in Saudi Arabia. 
This collaboration is expected to contribute to the advancement of smart farming practices in the region.

Bahrain’s Unipal Secures Key Funding to Boost Student-Centred Offers

Unipal clinches Pre-Series A investment backed by Falak Angels Syndicate members. 
Platform offers exclusive discounts for university students on everyday goods and services. 
Rapid user growth in Bahrain (60,000 users) and Riyadh (160,000 users in eight months). 
Previous $500,000 follow-on funding raised from Tenmou, Flat6Labs, GTS, and angel investors.

Willow Chip’s Speed: Google reports a five-minute completion time for tasks estimated to take classical supercomputers up to 10 septillion years. 
Error Correction Breakthrough: The chip reduces calculation errors at a rate that experts consider a milestone in quantum research. 
Potential Applications: Faster drug development, deeper MRI scans, and improved AI capabilities stand among the major advantages touted by Google. 
Security Concerns: As quantum power grows, experts warn about threats to current encryption methods. 
Looking Ahead: Researchers predict that by the end of the decade, quantum machines could handle commercial and scientific tasks beyond the reach of classical computers.

Gemini 2,0 Flash debuts with image and audio generation features.
Performance surpasses Google’s previous Gemini 1,5 Pro model, with twice the speed.
SynthID watermarking built in to label AI-produced content.
Future agentic AI systems teased, including Project Astra and Project Mariner.
Wider rollout slated for January 2025.

New feature allows sharing live video from a phone&#8217;s camera or screen. 
Accessible in Advanced Voice Mode via the voice icon in the chat bar. 
Available for ChatGPT Plus, Pro, and Team users in most countries. 
Enterprise and educational access will roll out in January 2024. 
EU and select European users will gain access soon.

Arageek Team

الرئيسية

آرشيفات لـ Arageek Team

محتوى عربي يستحق القراءة

أراجيك - Arageek

https://cdn.arageek.com/magazine//ARAGEEK-Logo-transperant.png

أراجيك

https://backend.arageek.com/wp-content/uploads/magazine/avatar_user_101838_1699698076.png