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The UAE-based cyber security start-up spiderSilk has raised $2.25 million in a funding round led by Saudi Technology Ventures and Dubai-based Global Ventures.
The investment will help the company to grow its network of clients and expand its footprint across the Middle East and North Africa region, and establish a presence in North America, the company said. We are thrilled by the support we have received from all our partners and investors . they will be instrumental in bringing our vision to life, Rami El Malak, co-founder of the start-up, said.
Founded in 2019, spiderSilk previously raised $500,000 of seed capital in a round led by Global Ventures last year.
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Trukker, a UAE start-up that provides an Uber-like service for trucks, is preparing for a potential listing as it aims to raise fresh funds to propel regional growth, its founder said.
“In a few years, maybe sooner than we expect, a listing on the Saudi Tadawul is likely,” Gaurav Biswas, the company’s founder and chief executive, told
The National.
“Trukker has most of the top regional and international funds as investors and we are working towards a strong equity raise in H1 2021 … to further concrete our regional dominance and expand into other markets, added Mr Biswas, who did not disclose further details related to the potential listing.
UAE s Trukker May See Next Rounds of Funding in the Early Parts of 2021
Photo : Screenshot from Trukker Technologies Official YouTube Channel
Apps and services inclined to provide booked trips for vehicles continue to become familiar around the world. Now, Trukker, a startup from the United Arab Emirates (UAE) may potentially see more funding for their app which offers services just the same as the likes of Uber, but for trucks.
The company which was founded in 2016 tends to launch a new fundraising round which is currently set for the early parts of the next year. They may also see a possible listing of their own company name to their regional stock exchange, which is a significant leap on the overall financial and funding aspect of their company to continue the operations of their app and services.
TruKKer raises $10 million venture debt from US-based Partners for Growth
UAE-based on-demand truck aggregator TruKKer, has raised a $10 million strategic venture debt from San Francisco-based specialty lending firm Partners for Growth (PFG). This marks the largest-ever venture-debt in the Middle East and North Africa region (Mena) tech history, as well as the first for PFG in the region.
Established in 2016, TruKKer claims to have a fleet of over 25,000 trucks and 500 B2B customers on its platform, including multinational consumer products companies. The newly-raised funds will be used to finance the working capital needs required for the instant payment of thousands of transporters operating on TruKKer’s network.