Five Middle East web businesses attract investment



Five of the region's most innovative web businesses have attracted investment from Middle East Value Partners (MEVP).

The Beirut-based venture-capital firm said today it has made a new round of investments, as delegates gathered for the ArabNet conference in Beirut.

The startups that attracted funding include: Anghami.com, a music-streaming service targeting the Arab World; Laimoon.com, a job-search engine; and Boxautomation.com, a cash management firm.

The firm also announced a second round of financing of two businesses in its portfolio.

They are Pin-Pay, a mobile-banking provider, and Falafel Games, a designer and producer of Arabic video games.

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
 
 
 
 
 
 
 
The five pillars of Islam
Top tips to avoid cyber fraud

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