The artificial intelligence (AI) realm witnesses rapid developments around the world, reshaping the world of digital transformation and accelerating the pace of AI adoption. In this weekly newsletter, FollowICT is highlighting the most important news and advancements in AI around the globe. Tools – Google’s new AI-powered feature lets you try on clothes virtually On Thursday, Google announced a new AI feature that allows users to try on clothes virtually. The tech giant is also launching updated price alerts and teased an upcoming tool to help users discover shopping items and get interior design inspiration using AI-generated images. After two…
Author: Mohamed Fathy
African startups are witnessing significant developments. That’s why FollowICT Digital Economy Platform brings you a weekly roundup of the most important startup news across the continent. – 50 Finalists Selected for the Africa’s Business Heroes (ABH) 2025 Competition Worth $1.5 Million – Including 8 Egyptians The Africa’s Business Heroes (ABH) Prize, the flagship philanthropic initiative of the Jack Ma Foundation in Africa, has announced the top 50 finalists for its 2025 competition, which offers $1.5 million in grant funding. This year marks a record high in participation and regional representation. ABH supports outstanding entrepreneurs from all 54 African countries who…
Dxwand, the company known for empowering businesses with conversational AI, is proud to announce the launch of Merlinx—a game-changing, autonomous AI sales and customer service agent built for small and medium-sized businesses. Merlinx Blending powerful AI with a playful, wizard-inspired personality, Merlinx is not just another chatbot—it’s a fully autonomous digital team member that learns your products, talks to your customers, and drives real revenue growth. All with zero code and near-zero onboarding effort. Give SMEs the Power Built to give SMEs the power of an entire sales and support team—without the complexity or cost—Merlinx is intelligent, proactive, and works…
Philadelphia-based robotics company Asylon announced Tuesday that it raised a $26 million Series B led by Insight Partners, with participation from Veteran Ventures Capital, Allegion Ventures, and the GO PA Fund. Asylon began as a drone company for securing facilities. It’s best known for a drone that has a robotic arm that can change its own batteries. But it also has a robotic guard dog service called DroneDog. Asylon takes the famed Boston Dynamics robot dog Spot and modifies it for guard work and to integrate with its command-and-control Guardian software. Asylon offers the drones, dogs, and software as its…
Nice Deer, a leading innovator in Egypt’s health insurance technology (InsurTech) sector, proudly announces it has received official approval from the Financial Regulatory Authority (FRA) to establish Nice Deer for Financial Solutions Egypt’s first fully digital non-banking financial institution (NBFI) dedicated to providing factoring services for deferred medical insurance claims. Medical Service Providers This regulatory milestone enables Nice Deer to offer real-time, structured financing to medical service providers, converting delayed insurance receivables into immediate cash. The goal is to directly address one of the most pressing challenges in the healthcare ecosystem: liquidity shortages due to delayed claim settlements. “This license…
Egypt’s first fully digital and FRA-regulated SME financing platform, announced today that the company has successfully closed its seed round by raising US$3 million blended funding round, comprising both equity and debt. Investors The equity round was led by Egypt Ventures, with participation from Camel Ventures, Sukna Ventures, Plus VC, Banque Misr, and prominent regional family offices including El Sewedy and Baalbaki, alongside strategic corporate bankers. On the debt side, Flend has secured facilities from MSMEDA, as well as other local banking partners. Flend was founded by a team of experts in banking, fintech, and development finance who had long…
Valu, MENA’s leading universal financial technology powerhouse, has announced its partnership with RoboGarden Egypt, the AI-powered EdTech platform, to provide flexible payment plans for the “Learn to Earn” initiative. This initiative seeks to empower youth across Egypt — with a special focus on women and people with disabilities — by providing specialized digital training programs designed to equip them with the skills needed to thrive in today’s evolving job market. Equal Opportunity The initiative features an innovative approach that promotes equal opportunity in education by offering a hybrid learning experience. Combined with Valu’s flexible payment solutions, it ensures that high-quality…
Sprints, the leading platform for upskilling tech talent across emerging markets, has spent six years crafting personalized learning journeys and cultivating a top-tier talent pool. Building on this foundation, HiRemoters was launched as Sprints’ dedicated remote hiring arm—connecting remote-ready talent with global opportunities. Backed by Sprints’ expertise, HiRemoters delivers AI-powered, end-to-end hiring solutions that help businesses source, onboard, and manage distributed teams with speed, transparency, and confidence. HiRemoters HiRemoters is not a gig platform. It’s designed for accountability and long-term team success, offering transparency, IP protection, and cost control. Unlike outsourcing models that involve hidden fees and lack direct access…
Tactful AI, the Egypt-born startup specializing in AI-powered customer experience solutions, has announced a new chapter in its journey after its founders, Mohamed El-Masry & Mohammed Hassan, reacquired full ownership of the company. extending In 2022, the company was acquired by Dstny, a leading European provider of business communication tools. The acquisition was part of Dstny’s strategy to expand into AI-powered CX. However, following a strategic decision, El-Masry has now reacquired the company, positioning Tactful AI to pursue an independent growth path with renewed focus on regional and international expansion — starting in the Middle East (particularly Saudi Arabia and…
PALM, Egypt’s first fintech startup offering incentivized goal-based saving, has announced today that the company has successfully closed its pre-seed funding round. The investment round was led by 4DX Ventures with participation from Plus VC and several international angel investors. Personalized Saving Experience PALM offers a seamless and personalized saving experience designed to help users achieve their various life goals, whether to fund basic needs such as education and healthcare, saving for marriage or afford their key purchases such as travel, home appliances and electronics. The platform combines traditional investment tools with modern behavioral nudges, rewarding users for consistency and…
In a strategic move reflecting international confidence in Egypt’s investment climate, El Gamal Group has announced a partnership agreement with the global hotel chain BWH Hotels to launch a new hotel project under the Best Western Plus brand. The hotel will be located directly in front of the Grand Egyptian Museum, one of the most anticipated cultural destinations in the world. Grand Egyptian Museum This step comes as Egypt prepares to inaugurate the Grand Egyptian Museum — the largest cultural project of its kind globally — expected to attract millions of visitors annually. The upcoming hotel will be the first…
Lucidya, the leading AI-powered customer experience management (CXM) platform in MENA, has announced the successful close of its USD30 million Series B round, making it the largest AI investment ever raised in the region. The round was led by Impact46, the Saudi VC behind IPOs like Jahez and Rasan. New participants included Wa’ed Ventures, Aramco’s investment arm for transformative tech; Takamol Ventures, a government-backed digital innovation catalyst; and SparkLabs. Existing investors Rua Growth Fund and ARG also returned, doubling down on their long-term conviction in Lucidya’s trajectory. Lucidya Founded in 2016 and headquartered in Riyadh, Lucidya is one of the…
ACT, a leading Information and Communication Technology (ICT) company with over 35 years of experience, has announced a strategic partnership with Kashier, a prominent provider of financial technology solutions in Egypt. This collaboration aims to introduce integrated, smart payment solutions tailored for the Food and Beverage (F&B) sector, enhancing operational efficiency and elevating the customer experience. Real Value This partnership reflects ACT’s ongoing commitment to embracing new technologies and delivering real value to its customers—particularly in the hospitality industry, where flexibility, accuracy, and efficiency are essential. ACT provides a suite of specialized end-to-end technology solutions for this sector, including Oracle…
Egypt-based property technology (PropTech) platform Nawy has acquired a majority stake in SmartCrowd, a Dubai-based fractional property investment platform, marking its entry into the UAE market and broader GCC expansion. Acquisition However, the company did not disclose other details, including the cost of acquisition. Backed by e&, Nawy’s latest move follows its $52 million Series A fundraising program, part of a $75 million round, from e& Capital, Partech, March Capital Investments (MCI), Endeavor Catalyst, Development Partners International (DPI) Venture Capital via the Nclude Fund, Shorooq, VentureSouq (VSQ), Outliers, Verod-Kepple Africa Ventures (VKAV), HOF Capital, and Plug and Play. SmartCrowd SmartCrowd,…
Huspy just closed a $59 million Series B to double down on operations across the Middle East and expand its European presence, led by existing investor Balderton Capital. In 2022, Huspy raised over $40 million in Series A and an extension from a who’s who of global investors, including Balderton Capital, Founders Fund, and Peak XV Partners (formerly Sequoia Capital India & SEA). Other investors include ExBorder Partners, Turmeric Capital, COTU Ventures, BY Ventures, Dara Management, and KE Partners. The new capital will fuel Huspy’s continued growth in the UAE and Spain and support its launch in Saudi Arabia. Huspy…
PetroApp, the leading independent platform for digital fuel payments, fleet management, and vehicle services, today announced the successful closing of a $50 million investment round led by Jadwa Investment through its GCC Diversified Private Equity Fund, with participation from Bunat Ventures. Cashless Fuel Payment Founded in 2018, PetroApp is Saudi Arabia’s first standalone provider of cashless fuel payment and fleet management solutions, eliminating cash transactions, reducing fraud risk, and delivering real-time cost control for corporate and government fleets. The platform has since expanded to offer ancillary services; including car washes, oil changes, and tire & battery replacements, and continues to enhance…
Aria Ventures, a specialized venture studio focused on building startups, has announced the launch of a 50 million EGP investment to support promising companies in the Deep-Technology sector. This initiative aims to bridge the gap between pioneering research and market applications, enabling deep technological innovations to grow and flourish. Venture Studio Aria Ventures aims to increase this funding to EGP 200 million over the next four years, reinforcing its commitment to supporting deep technological innovation in the region. Aria Ventures operates as a venture studio, concentrating on Deep-Technology innovation across diverse sectors. These sectors include industry, agriculture, healthcare, Artificial Intelligence…
Philip Morris Misr has announced the launch of IQOS ILUMA i in Egypt, the latest and most innovative addition to its portfolio of smoke-free products. As the newest generation of IQOS devices, IQOS ILUMA i reflects PMI’s ongoing commitment to scientific innovation and the development of better alternatives for adult smokers who would otherwise continue to smoke or use nicotine products. This launch reinforces PMI’s global vision for a smoke-free future, leveraging science and advanced technology to deliver nicotine without combustion. “We leverage science, world leading brands and commercial capabilities to provide better alternatives to our consumers” said Ali Nevzat…
Zoho Corp., a leading global technology company, today announced the launch of Zia Hubs in the Middle East and North Africa (MENA) region, a new solution within Zoho WorkDrive, the company’s secure content collaboration platform that enables businesses to extract intelligence from unstructured data and activate it across their operations. Business Data Built on Zia, Zoho’s proprietary AI engine, Zia Hubs allows organisations to connect various types of content—documents, audio, video, and more—to Zoho’s expansive suite of apps for deeper insights, agentic AI capabilities, and unified, context-aware search. “According to IDC, 80 percent of business data is unstructured,” said Hyther…
Bassem Mahmoud, CEO of Banknbox, the region’s leading unified Banking-as-a-Service (BaaS) platform, announced that the company has achieved 600% growth during the first half of 2025. This milestone reflects the accelerating regional adoption of its innovative financial solutions and reinforces the company’s vision to digitally transform the financial sector in alignment with Egypt’s financial inclusion strategy and Vision 2030. Banknbox Expands Regionally This significant leap comes as Banknbox expands regionally, with its recent market entry into Qatar, alongside building a strong network of strategic partnerships with 18 banks and fintechs across 7 countries, offering more than 29 integrated digital financial…