Dear Stakeholders and Partners,
As we step into 2025, we are excited to reflect on a year filled with achievements and impactful milestones. At HALA Ventures, we remain committed to fostering innovation, empowering entrepreneurs, and driving the venture capital ecosystem forward. Here’s a recap of our journey this year, highlighting key moments from each quarter and the exceptional accomplishments of our portfolio companies. |
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A Special Milestone: HALA Ventures on Forbes |
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This year, we crowned our accomplishments by being recognized among the Top VCs in MENA in 2024 by Forbes. This recognition is a testament to the collective efforts of our team, partners, and the incredible entrepreneurs we support. Full article and rankings. |
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ACHIEVEMENTS & IMPORANT EVENTS FOR HALA VENTURES |
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Events & Talks
This year, HALA Ventures participated in several key events, including the Investors Retreat in Riyadh, LEAP24, and the FII Summit, where we strengthened our investment presence and showcased our portfolio companies. At LEAP24, we hosted a dynamic gathering, uniting global entrepreneurs and showcasing several portfolio companies. Our team shared valuable insights in diverse panels at key events across 3 continents including the Retail Leaders Circle, Spectrum Investment Forum, Cyberport Hong Kong Venture Capital Forum (CVCF), and the Qatar Economic Forum, driving discussions on MENA's growth potential. |
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Investments
HALA Ventures continued to support groundbreaking initiatives and promising startups, we participated in the Upcoming Revolution with Rize, investing in their $2.9M seed round to transform the rental market with their "rent now, pay later" solution, we’ve also participated in Omniful's $5.85 million seed funding round, Also our contribution in Torod’s latest $1.4M funding round. Additionally, we sponsored the KFUPM AIChE chapter, which achieved first place in a regional competition and qualified for the Chem-E-Car Competition in San Diego, USA. Additionally, |
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Training & Mentoring
HALA Ventures played an active role in fostering entrepreneurship and innovation through various training and mentoring initiatives. These included workshops and panels at Seamless Middle East, Rally Accelerate Mentorship Bootcamp, and Techne Summit Alexandria.
Along with contributions to promoting entrepreneurship education through the SaudiPreneur program. And inspiring young entrepreneurs during a visit to the Entrepreneurship center and also Code center at King Faisal University. Additionally, we delivered a session to over 200 FCAI Computer Science students at Cairo University under the ITIDA and Cairo University protocol. Furthermore, we strengthened regional startup ecosystems through workshops held in Oman. |
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Media & Interviews Ali Abussaud featured on the Trendz podcast, discussing investment, compliance, and startup stories. Episode link. Ali Abussaud also shared insights on Fintech and venture capital in MENA during an interview with entArabi at the Fintech Forward Conference. Here is the full interview and also through this Article Here. Ali Abussaud appeared on Al Arabiya and other media platforms, emphasizing HALA Ventures' investment strategy. Watch the interview here. Hussain Almarhoon shared valuable insights at the Techne Summit Cairo on market expansion strategies and HALA Ventures' role in supporting startups in an exclusive interview. Watch the full interview here.
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Reports & Initiatives Delivered a Tech Scene Analysis, providing an in-depth report on Saudi Arabia's dynamic tech landscape, mentoring MBA students from Alliance Manchester Business School. Find the full report here. Created a comprehensive infographic on the Omani Startup Ecosystem, highlighting key players, resources, and initiatives. Full infographic here.
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Reached the final stage in international competitions, Won the Special Jury Award at the Orange Social Venture Prize in Morocco, and secured a win at the "She Loves Tech" global summit in Singapore. Demonstrated AI innovations at the TecShift Aramco Entrepreneurship Summit. Forged a partnership with the Middle East’s streaming giant platform "WATCHIT." Advanced AI partnerships with WE Telecom and Ooredoo.
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Achieved PCI MPOC certification, setting new standards for mobile payment acceptance. Obtained an NSP license from the Saudi Central Bank, enhancing infrastructure and value for the Saudi market.
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Recognized as a Future 100 company in the UAE by the Emirati Ministry of Economy and the Government Development and the Future Office. Launched a new investment and trading product, achieving significant record profits, hitting its first profit milestone with a net margin of 33% including AED 10 billion in cumulative trading volume. Surpassed client assets on Sarwa Trade compared to Sarwa Invest, marking continued growth.
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Participated in BIOFACH Saudi Arabia 2024, presenting creative logistics solutions for the organic products sector. Torod was honorably selected to participate as Solutions Provider in The Hajj Season of 1445 H. They did this through offering logistical and delivery services to the pilgrimages via the Nusk app operated by Elm. Have been featured in MonshaatSA latest report on E-commerce in Saudi Arabia. Invited by the Ministry of Environment, Water and Agriculture to their workshop on logistical solutions for organic farmers.
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Partnered with the Ministry of Sport and Saudi Arabia FIFA World Cup 2034, showcasing immersive technologies. Collaborated with the General Entertainment Authority (GEA) in Saudi Arabia to deliver innovative entertainment experiences. Created 360° video content for El Gouna Red Sea, highlighting the destination’s culture and beauty. Launched its immersive app on Apple Vision Pro, unveiling the largest library of immersive experiences, and hosted a visit by Minister Abdullah Alswaha and Prince Khaled bin Alwaleed.
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Democrance has been recognized with two prestigious awards by World Business Outlook: Best Insurance Distribution Platform UAE 2024 and Leading Insurance SaaS for Emerging Markets UAE 2024. Additionally, received the "Best InsureTek Supporter" award at the 9th InsureTek Golden Shield Excellence Awards 2024. |
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Signed a cooperation agreement with Kafalah, supporting SME financing with guarantees worth SAR 250 million. |
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Rize started the year closing their $2.9M seed fund round to transform the rental market with their "rent now, pay later" solution. Continued to innovate the real estate landscape, including a partnership with Wasalt. Signed a strategic partnership with AQAR to implement the "Rent Now, Pay Later" service. Signed a cooperation agreement with the Arabia Investment Company, aiming to expand Rize's services in the field of flexible rental solutions. Co-sponsored the Global PropTech Summit.
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Launched the Lamsa LEARN platform, revolutionizing early childhood education. Recognized as the "EdTech Platform of the Year" at the 2024 Tech Innovation Awards by Entrepreneur Middle East. Unveiled Lamsa Studio, an AI-powered platform transforming early childhood education, at BibanGlobal 2024 in Riyadh.
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Secured investment support from Prince Khaled bin Alwaleed, aligning with shared goals for food security, sustainability, and reducing food waste.
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As we look to 2025, we remain dedicated to building on this year’s successes. Our vision is to continue fostering innovation, supporting our portfolio companies, and contributing to the growth of the MENA venture capital ecosystem. We thank you for your trust and partnership in this journey. |
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Warm regards, The HALA Ventures Team |
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