Gate Capital News Letter | Issue 750

Abu Dhabi’s MGX, a tech-focused investment firm, has invested in Isomorphic Labs, a UK-based drug design and development company.

The state-backed firm was among the investors who participated in the $2.1 billion Series B funding round that also drew support from existing backers Alphabet and Google Ventures, and new investors Temasek, CapitalG and the UK Sovereign AI Fund.

BlueFive Capital, a global alternative investment platform, has announced it has completed the acquisition of a 49% equity stake in Massar Solutions from Abu Dhabi National Energy Company (Taqa).

According to BlueFive Capital, this acquisition is a significant milestone in its strategy to build a regional mobility platform that integrates leading leasing and transport solutions under a single, cohesive ecosystem.

UAE-based Trojan Construction Holding has joined hands with Orascom Construction for the establishment of a new company – Everwater for Treatment Systems – headquartered in Abu Dhabi dedicated to delivering EPC and O&M services for large-scale water infrastructure projects across the region.

Everwater combines the two companies’ technical expertise, financial strength, and delivery capabilities to build a strategic platform for delivering complex, large-scale water projects.

RAKBANK and Emirates Growth Fund (EGF) have partnered to explore opportunities for expanding SME financing and advisory support in the UAE, signing a strategic agreement at the Make It in the Emirates forum.

Eyewear company Magrabi Retail is planning to acquire a 51% stake in Baraka Optics Group, one of the largest optical chains in Egypt.  The transaction is subject to regulatory approvals and will mark the Dubai-headquartered retailer’s third such major deal in 18 months, which included the acquisition of Kuwait optical chain Kefan Optics in May of last year.

Jordan Capital and Investment Fund (JCIF) announced the official launch of Manara Ventures, a JOD 50 million (approximately USD 70.5 million) scale-up fund dedicated to supporting the growth of Jordan’s most promising technology- and innovation-focused companies. . The fund also secured backing from regional institutional investors, including Abu Dhabi-based global investment firm Lunate.

GrowthLabs, a leader in digital ecosystem building, today announced its acquisition of Startup Gate, a hub connecting founders, investors, and mentors. The acquisition aims to provide end-to-end digital solutions for entrepreneurs and startups throughout their lifecycle, including opportunity discovery, networking, and access to funding, as well as incubation, acceleration, and innovation support programmes.

As a result, GrowthLabs establishes a first-of-its-kind entity combining community networks with advanced technology, strengthening its position to lead the regional innovation landscape and expand across the Gulf and Africa in 2026. It delivers real-time data and analytics across the full startup journey, creating a seamless pathway from company registration to investment readiness while enabling founders to accelerate growth.

Arib, the Saudi digital financing marketplace, has raised $23.5 million in a funding round led by Merak Capital, as the company looks to expand its platform and strengthen its position within Saudi Arabia’s rapidly growing fintech sector. The round also included Sharia-compliant Murabaha financing facilities, reflecting increasing investor appetite for Islamic fintech products and digital lending infrastructure across the Kingdom.

eVoost AI, the Abu Dhabi-based proptech startup, has raised €2 million ($2.2 million) in a funding round led by First Drop VC, as the company accelerates the development of its AI-powered residential sales platform and expands further into international markets.

Peekabox, the UAE’s first surplus food marketplace, today announced the close of an oversubscribed $1.5 million seed round, backed by a roster of regional heavyweight investors and operators. Founded in 2025 by Hasan and Omair Sarwar, the platform enables F&B and grocery businesses to sell surplus food at 50–70% discounts.

Tunisia-based insurtech startup EYST Technology raised a six-figure investment from 216 Capital to support its technological expansion and international growth. Founded in 2022, EYST Technology develops a SaaS platform that enables insurers to modernise claims settlement through the issuance of virtual bank cards instantly credited with the reimbursement amount.

DUBAI – QatarEnergy has acquired interests in three offshore exploration blocks in Uruguay from a subsidiary ​of Shell, marking ⁠its first entry into the South American country’s upstream ‌energy sector, the state-owned company said on Wednesday without disclosing financial details.

Select Group, the Dubai-headquartered real estate developer and hospitality investor, has acquired three Delta Hotels by Marriott golf and country club resorts in the United Kingdom, marking a significant expansion of its UK hospitality platform.

Taiba Investment Company has signed a final partnership agreement with Osool Integrated Real Estate Company to develop, refurbish and operate three hotels in the central area of Madinah in a project valued at SAR2.4 billion ($640 million), strengthening the city’s hospitality infrastructure as Saudi Arabia expands accommodation capacity for pilgrims under Vision 2030.

Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region, has announced that it has received all requisite regulatory and governmental approvals for its landmark acquisition of a majority controlling stake in India’s RBL Bank Limited (RBL) with the approval of the Government of India for the deal.

The UAE-founded GymNation has secured $100 million through a private credit facility from funds and accounts managed by the US-based HPS Investment Partners, a global credit investment manager acquired by BlackRock last year.

Wamda Capital-backed global employment, payroll, and spend platform RemotePass has raised $17.4 million in Series B funding led by EBRD Venture Capital (EBRD), with participation from 500 Global and existing investors Oraseya Capital, 212 VC, Access Bridge Ventures, and Khwarizmi Ventures.

Shyam Middle East Resources, a part of India’s renowned Shyam Steel Group, is establishing a new non-ferrous metals processing and manufacturing facility at Al Ghail Industrial Zone in Ras Al Khaimah Economic Zone (Rakez).