With governments across the Middle East and North Africa predicted to spend 11.5 billion USD on information technology this year, competition among investors for lucrative opportunities is high.
However, given the relatively underdeveloped tech sector in the Middle East, many investors in the regional are feeling the need to look abroad for promising tech startups to support.
Recently, retail-tech startup ShoppinPal raised 1.07 million USD in a round of funding from a variety of sources – including an investor based in the Middle East. The startup connects retailers and brands with online marketplaces, in order to boost sales.
ShoppinPal is operated by Fermyon Pvt. Ltd., a company based in the US. ShoppinPal currently works with some of the most popular online marketplaces in India, as well as with point-of-sale companies like Vend. According to one of Fermyon’s founders, Sriram Subramanian, “We are trying to replicate the US success in the Indian market and there is a lot of potential”.
ShoppinPal’s Middle Eastern investor is not alone in recognising the value of potential – it is often a key factor in determining whether or not an investor is willing to deploy capital in an innovative, niche or untested tech project.
On October 31, 2017, Naseba will be hosting the 3rd MENA Private Equity and Venture Capital Summit in Dubai, United Arab Emirates. The primary focus of the summit is to offer a deal flow platform that will introduce representatives of sovereign wealth funds, traditional PE and VC firms, regional conglomerates and family-owned businesses to innovative business cases from around the world.
The summit will combine insightful panels led by key regional and international tech investors and experts and pre-scheduled introductory meetings between up to 30 healthcare, life science and ICT investment opportunities and key regional investors and strategic partners, to raise capital and form strategic and commercial partnerships, in an informed and exclusive environment.
To access the Middle Eastern investors and strategic partners submit your business case here,
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Naseba investor introduction
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