Led · Series B · Feb 2020

Eureka builds software that applies AI and machine learning to large external and internal data sets to produce financial and market intelligence. Its financial intelligence products enable credit and risk scoring by leveraging telecom and alternative data, open banking, and transaction data. Its market intelligence offerings provide continuous country-level panels for digital and location intelligence. Eureka also offers data science infrastructure, including the DS2 Feature Store and AI Learning Fabric, to help teams deliver data science at scale. The company works with Fortune 500 customers across telecom, banking, insurance, e-commerce and transport. Founded in 2016, Eureka has offices in eight major cities across Asia, the United States, the Middle East, and Africa, and says the recent financing will fuel rapid growth and expansion of its offerings. Eureka Ai is a Singapore-based artificial intelligence enterprise software startup. According to ACRA filings accessed by DealStreetAsia – DATA VANTAGE, the company has raised an additional $500,000 in fresh funding. The article identifies the company as offering AI enterprise software but does not provide details on the investors, valuation, or funding instrument. The coverage is a short filing-based report published by DealStreetAsia’s DATA VANTAGE. No operating metrics, past rounds, founding year, or future plans are mentioned in the article. Eureka has built a proprietary AI enterprise software platform called Spectrum that organises mobile telecom data to deliver actionable intelligence for mobile operators and enterprise partners. The platform enables enterprises across industries including banking, insurance, transportation, and FMCG to partner with mobile operators to offer more relevant and personalized services and acquire customers. Eureka is deploying on operators across Southeast Asia, India, and the Middle East, covering a collective mobile subscriber base of over one billion customers, and is expanding into Europe and the US. The company operates engineering and technology teams in Bengaluru, Seattle, Singapore, and Jakarta and plans to grow its Bengaluru development team. Management says the new capital will support international expansion and further develop Eureka’s product portfolio. Eureka is also a member of Mastercard’s Start Path later-stage startup engagement programme.

Participated · Series A · Nov 2019

TruKKer operates a digital freight network facilitating cargo movement across the MENA region and beyond. The company was founded in 2016 and is based in Abu Dhabi. TruKKer has disclosed $189 million in funding to date. Recently it secured a $300 million securitization facility from Abu Dhabi Commercial Bank, described as one of the largest such facilities for a startup in the region. TruKKer said the financing will support its operational expansion and enhance its platform capabilities. The transaction was framed as a strong vote of confidence from a leading regional bank in TruKKer's business model and market position.

Led · Series B · Mar 2019

Beehive is a Dubai-based peer-to-peer lending platform that directly connects SMEs looking for finance with retail and institutional investors. The platform has facilitated more than 450 business funding requests and its funding volume approaches $100M. It has registered nearly 10,000 international retail and institutional investors. Led by founder and CEO Craig Moore, Beehive has raised $15.5M since launch. The company says it will use the latest funding to drive expansion across the GCC and Southeast Asia and to support partnerships in those markets. Recent commercial activity includes a partnership with Thanachart Bank in Thailand to provide a Value Chain Financing Program for SMEs. Beehive is a Dubai-based P2P platform that provides Sharia-compliant financing solutions to established SMEs across the MENA region. The platform facilitates financings from AED 100,000 for up to three years by directly connecting businesses with a crowd of investors. Individual investors can invest from AED 100 and Beehive undertakes thorough due diligence on each listed business, facilitating the finance agreement and charging a small percentage fee. Led by founder and CEO Craig Moore, the company has facilitated over $35m (AED 130m) to more than 200 business funding requests and registered more than 5,000 international investors. Beehive intends to use the new funds to further expand its digital model and drive product and market expansion. The company recently closed a $5m Series A to support those plans.

Led · Series B · Nov 2017

Souqalmal is a UAE-based aggregator and the region's first online comparison site for financial and non-financial consumer products. Founded in 2012 by Ambareen Musa, the site lets users search and compare over 1,000 products and post reviews of products they own. The company recently won a three-year contract with the Saudi Arabian Monetary Authority (SAMA) to build, populate, and manage an official financial awareness platform for Saudi consumers and to handle complaints; that work is paid at a fixed price. Souqalmal plans to use its new funding to launch new products, develop technology, and invest in marketing. The recent Series B brought $10M and increased total funding to $14.5M. The company is positioning to expand regionally through investor partnerships that provide market access and distribution.

Led · Series A · Oct 2017

FOODICS provides a point-of-sale and restaurant management platform combined with payments and fintech services, licensed by the Saudi Central Bank (SAMA). The company’s core product serves every segment of the F&B sector, from dine-in restaurants and cafés to food trucks and cloud kitchens. Since its 2014 founding, FOODICS has processed over five billion orders through its platform. Management plans to use new capital to build out fintech capabilities, launch micro-lending, and expand supply-chain management services. FOODICS is also expanding its addressable market into non-food micro-retail outlets and boosting innovation capabilities to better serve business owners. The company has begun M&A activity—acquiring full ownership of POSRocket in January—and is pursuing further international expansion, including into APAC. FOODICS is a Saudi Arabia–based F&B tech startup offering an all-in-one retail management platform that helps restaurant and retail owners run their businesses. The platform has processed over 5 billion orders, runs on more than 50,000 terminals, and serves over 10,000 F&B brands. The company announced a $20M Series B round that brings its total funding to $28M. FOODICS said the new capital will be used to grow share in existing markets, accelerate international expansion, and expand its fintech offering. CEO Ahmad Al‑Zaini noted the company captured opportunities during a difficult 2020 and thanked clients, investors, and partners for their support. Foodics is a cloud-based SaaS restaurant management system running on iPads that handles sales, transactions, inventory, employee scheduling, and customer-relationship management. The company was founded in 2013 by Ahmad Alzaini and Musab Alothmani and graduated from the Badir Technology Incubator. Foodics serves over 600 F&B brands across the Middle East, primarily in Saudi Arabia and the UAE, and employs over 50 people across offices in Riyadh, Jeddah, Khobar, and Dubai. The startup plans to hire R&D, data science, and AI experts, invest heavily in AI-powered business intelligence, and expand integration capabilities with accounting tools and CRMs. It also intends to build a customer-support talent pool and pursue global expansion starting from Europe. Financially, Foodics completed its first external fundraising with a $4 million Series A.