Gate Capital News Letter | Issue 767

UAE-based Shorooq and Presight, a G42 company, have invested in US industrial robotics startup Maven Robotics as part of its $100 million Series A, through funds managed by Shorooq. The round also included RoboStrategy, LocalGlobe, Vine Ventures and XTX Ventures. The individual investment amounts from Shorooq and Presight were not disclosed.

The funding will support the production of Maven’s third-generation robot fleet and development of its fourth generation, as the company expands from palletising into broader materials-handling applications.

Saudi Arabia-based fintech erad has raised $22 million in Series A funding led by MEVP, with participation from new investors 500 Global, Saudi Venture Capital (SVC), S60 Ventures, ANB Capital, Conjunction Capital and Araya Ventures, alongside existing investors Khwarizmi Ventures, Nuwa Capital, Aljazira Capital, Oraseya Capital and Joa Capital.

The raise comes on the back of 8x year-over-year growth for erad in Saudi Arabia, having deployed over SAR 500 million ($133 mn) in cumulative financing to SMEs, indicative of growing demand for alternative growth capital across the GCC.

Saudi investment firm Pinnacle Capital, through its Pinnacle Growth & Secondary Fund, has made an additional investment in Saudi alternative accommodation platform Gathern, increasing its ownership in the company. The transaction value and Pinnacle’s resulting stake were not disclosed.

The financial value of the transaction and Pinnacle’s resulting ownership stake were not disclosed. Pinnacle described the investment as part of its strategy to identify secondary investment opportunities in regional technology companies.

The UAE and Saudi Arabia are at the forefront of the Arab region’s digital-economy development, with both countries ranking among the five highest-performing markets in the 2026 Arab Digital Economy Index.

Alpha Capital announced that Alpha Aquaculture Fund, a Shariah-compliant private equity fund, completed the acquisition of a 33.7% stake in Tharawat Seas Co., an aquaculture company operating on the coast of the Red Sea. The transaction was concluded under the patronage of the Ministry of Environment, Water and Agriculture, represented by H.E. Eng. Mansour bin Hilal Al-Mushaiti, Vice Minister of Environment, Water and Agriculture.

UAE master developers Aldar and Arada have entered into a joint venture agreement, unveiling a 15 billion dirhams ($4.08 billion) development pipeline for Abu Dhabi. The initial agreements under the JV comprise a masterplan to develop a mixed-use community at Seih Sdeirah on the Abu Dhabi – Dubai border and Arada’s acquisition of three residential development plots on Yas Island from Aldar.

RUA AlHaram AlMakki Co. and Rua Al Madinah Holding, both Public Investment Fund companies, have signed two strategic collaboration agreements with Perbadanan Tabung Amanah Islam Brunei, creating new opportunities for investment collaboration between Saudi Arabia and Brunei Darussalam in development projects.

The collaboration agreements bring together institutions from Saudi Arabia and Brunei Darussalam. They also establish new avenues for investment and development collaboration in Makkah and Madinah.

Invest Qatar has entered into a memorandum of understanding (MoU) with Aurion Capital and LG NOVA to explore technology investment in Qatar. Aurion Capital is a global investment group, while LG NOVA is LG Electronics’ innovation centre in North America.

United Arab Emirates-based technology company AIQ has signed an agreement to enter India’s oil and gas sector as it steps up efforts to expand beyond its home market, company executives said on Wednesday.

An Abu Dhabi Investment Authority (ADIA) unit is participating as an investor in the $2.34 billion buyout of Canada’s Slate Grocery REIT by US-based firms, Brixmor Property Group Inc. and Everview Partners.

Qatar has driven significant digital growth in Qatar, resulting in the registration of 130 startups, generating over QR178m in revenue, and more than QR316m in raised capital, according to the Ministry of Communications and Information Technology (MCIT).

Umm Al Qura for Development and Construction Co. (Masar) said it signed a reservation and sale agreement for a land plot within Masar Destination in Makkah with Sharq Al Asimah Fund Co. to develop a hospitality tower for SAR 251.77 million.

Masar said the land plot has a book value of SAR 124 million, adding that the transaction will positively impact liquidity and financial results. The proceeds will fund working capital and existing projects.

The Islamic Development Bank approved $938 million in development financing for projects covering energy, agriculture, and health across six member countries. The largest funding allocations will be going to Uzbekistan and Tunisia, with Nigeria, Pakistan, Syria and the Kyrgyz Republic also benefiting.

The UAE-based Gulf Islamic Investments (GII) has acquired a majority stake in UK fractional property platform London House Exchange (LHX) for an undisclosed sum.  The stake was acquired from the AI-native mortgage and home equity finance platform, Better Home & Finance Holding Company.

Abu Dhabi sovereign wealth fund Mubadala Investment Company is teaming up with US-based Together AI to explore investment opportunities in artificial intelligence infrastructure in the UAE.

As part of the deal, the two companies will work together to identify opportunities that support the “development and deployment of AI” in the Arab world’s second-largest economy, Mubadala said in a statement on Tuesday.

ASB Capital, a purpose-driven asset and wealth management firm with assets under management (AUM) of $10.2 billion, announced its appointment as joint lead manager and bookrunner on Arab National Bank’s $750 million perpetual additional tier 1 (AT1) sukuk issuance.

Sela signed a memorandum of understanding with Icon Saudi during the Monaco Yacht Show 2026, establishing a framework for cooperation on developing a specialized luxury yacht maintenance facility in Jeddah.

Leading real estate project developer Diyar Al Muharraq has signed a strategic agreement with Kuwait Finance House – Bahrain (KFH) to offer financing options to prospective buyers of residential plots at the Al Nuzha development located in the Northern Islands within its mega integrated city in the kingdom.