1001 Raises $30 Million Series A for Sovereign AI Operating Systems
Gulf Cooperation Council- and London-based artificial intelligence startup 1001 has secured $30 million in a Series A funding round led by Lux Capital. The round also included Sanabil Investments, Hanabi, 9Yards, General Catalyst, CIV, Chris Re, and several regional and international angel investors.
Founded in 2025 by Bilal Abu-Ghazaleh, 1001 develops sovereign AI operating systems for operators in critical infrastructure sectors. The technology helps customers predict operational issues, automate decisions, and optimize performance while retaining local ownership and governance of their AI systems. The company will use the funding to expand its engineering team and strengthen commercial, sales, and go-to-market operations across key GCC markets. This round follows a $9 million seed investment secured in October 2025 from CIV, General Catalyst, Lux Capital, and other investors.
500 Global and Sanabil Select Eight Startups for Accelerator Cohort
500 Global and Sanabil Investments, a wholly owned company of Saudi Arabia’s Public Investment Fund, have selected eight early-stage startups for the 11th cohort of the Sanabil Accelerator by 500 Global. Running from April 5 to July 1, the program supported companies developing solutions across AI, fintech, healthcare, fraud prevention, insurtech, compliance, and digital content. The startups were chosen from more than 690 applicants and include Carevision, Emtethal, IBEA, Kami, Melon Digital, Raid AI, TPP, and Xsquare. The cohort has a strong focus on AI-enabled products and infrastructure technologies addressing regional challenges. Participating founders received mentorship, operator-led workshops, investor exposure, and access to regional and global networks. The accelerator adopted a hybrid format, with its first two phases delivered remotely in response to regional market conditions. Applications for the program’s 12th cohort are now open to startups across the Middle East and North Africa.
Beltone Venture Capital Increases Investment in Ariika and Lychee
Beltone Venture Capital, the venture capital arm of Beltone Holding, has increased its investment in Egyptian consumer brands ariika and Lychee to support their expansion into Saudi Arabia. The two companies plan to open a combined five stores in Riyadh as part of their regional growth strategies. Ariika, a direct-to-consumer home furnishings brand led by Khaled Attallah, will open two stores in the Saudi capital. Healthy food and beverage brand Lychee, founded by Mohamed Assy, plans to launch three stores. Beltone Venture Capital said the expansion represents the beginning of a broader strategy to build a new generation of regional consumer companies, with Saudi Arabia identified as a key growth market.
BrainsMingle Secures $400K from BasharSoft Group
US-based AI startup BrainsMingle has secured a $400,000 seed investment from BasharSoft Group to expand its AI-powered professional networking platform. The transaction marks BasharSoft Group’s first strategic investment since its acquisition of iCareer. Founded in 2024 by Belal Amin and Yousef Gamal, BrainsMingle operates an AI-driven, video-first platform that allows experts to host live sessions, manage bookings and payments, build communities, and connect with other professionals through a single service. BrainsMingle will use the funding to support the development and expansion of its global AI-powered professional network.
OSN Proposes Acquisition of Remaining Anghami Shares
OSN Streaming, the controlling shareholder of Anghami, has submitted a preliminary non-binding proposal to acquire all outstanding shares in the company that it does not already own. The proposed take-private transaction offers Anghami shareholders $3.39 per share in cash. OSN currently owns approximately 67 percent of the Nasdaq-listed company’s outstanding shares. Founded in 2012 by Eddy Maroun and Elie Habib, Anghami operates a streaming platform offering music, podcasts, video, and live entertainment services. No final agreement has been reached, and the proposed acquisition remains subject to a recommendation from a special committee, approval by Anghami’s board, shareholder approvals where required, and other regulatory processes. Anghami said it could also continue operating as a publicly listed company. Saudi Arabian media conglomerate MBC Group owns a 13.7 percent stake in the business.
Catalyst Fund Reaches $30 Million Second Close
Pan-African climate-focused venture capital firm Catalyst Fund has completed the second close of its debut fund, bringing total commitments to $30 million. Investors include the International Finance Corporation, FASA, Shell Foundation, Trafigura Foundation, Speedinvest, Blink Impact, the Women Entrepreneurs Finance Initiative, and private investors. Led by Maelis Carraro, Maxime Bayen, Oluwatoyin Emmanuel-Olubake, and Amolo Ng’weno, the fund invests in pre-seed to Series A startups developing climate resilience technologies across agriculture, fintech, food systems, energy, water, and mobility. Catalyst Fund plans to back 40 companies across Africa and has already invested in 28 startups operating in 10 African markets. Its portfolio includes Kenya’s Keep It Cool, Tanzania’s MazaoHub, and Egypt’s Bekia. The Women Entrepreneurs Finance Initiative joined the fund to help strengthen its pipeline of women-led companies. Catalyst Fund expects to complete its final close later in 2026. It will use the additional capital to combine venture funding with hands-on venture-building support for founders developing climate resilience businesses across the continent.
Maalexi Raises $2.8 Million Ahead of Series A
UAE-based agricultural fintech startup Maalexi has raised $2.8 million in an oversubscribed funding round led by Saudi-listed insurer Tawuniya, with participation from Global Ventures. The company secured the investment as it prepares for a Series A round. Founded in 2021 by Azam Pasha and Rohit Majhi, Maalexi develops an agricultural trade platform powered by artificial intelligence, the Internet of Things, and blockchain technology. The platform verifies commodities, manages risks, and enables cross-border trading and settlement across the UAE, Saudi Arabia, India, and Europe. Maalexi will use the investment to expand its regulated exchange infrastructure, with a focus on improving transparency, standardization, and efficiency in agricultural commodity trading through tokenized real-world assets. In August, the company secured a shariah-compliant credit facility of up to $20 million from Amwal Capital Partner.
Whiteshield Secures $15 Million Private Credit Facility
The UAE-based AI company Whiteshield has secured a $15 million private credit facility from Ruya Partners to support the development of its sovereign intelligence platform and its international expansion. Founded in 2011 by Fadi Farra, Whiteshield develops AI-powered policy intelligence platforms for governments, multilateral institutions, and enterprises. Its platforms combine proprietary data, public policy expertise, and decision-support applications to help governments improve economic competitiveness, workforce development, and institutional decision-making. Whiteshield will use the financing to expand its technology platform, deploy additional AI solutions, and accelerate its entry into international markets. The transaction represents Ruya Partners’ seventh investment from its flagship private credit fund and its first in the sovereign intelligence sector.
