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STC Ventures announces investment in Modanisa.com

Istanbul, Turkey, February 25, 2015: STC Ventures (Saudi Telecom’s corporate ventures fund) and Aslanoba Capital, the leading Turkish venture capital investor, announced today that they have recently concluded a USD 5 million investment in Modanisa.com, the world’s top Islamic clothing website. The investment agreement signed between Modanisa.com and the investors at Borsa Istanbul (BIST) Private...

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Careem acquires Taxiii in Morocco

Careem Networks, the Middle East’s leading private car booking service acquires Morocco based car booking service TAXIII’s assets and brings founder, Yassir EL ISMAILI EL IDRISSI and all TAXIII team onboard. Careem Networks announced today that they have acquired Taxiii’s assets as part of their strategy to become the leading ground transportation provider in the...

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Careem, the Middle East’s leading private car booking service acquires Saudi based address coding service enwani and brings co-founder, Dr. Abdulla Elyas into the fold

Careem announced today that they have acquired enwani co-founded by Dr. Abdulla Elyas, as part of their strategy to provide leading ground transportation solutions in Saudi Arabia. Elyas will follow the business into Careem to lead the development and expansion of Careem across the Kingdom. KSA, Riyadh: Careem, the UAE-headquartered app and web-based chauffeur-driven car...

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Corporate venturing in Saudi Arabia

In the past few years, Saudi Arabia has witnessed an interesting trend in the venture capital industry: major corporations have set up corporate venturing arms for their own strategic and financial objectives and to tap into the high growth potential in the region. The foci of these venture funds are in telecommunications and information technology...

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Careem, Middle East’s leading car booking service, raises up to US$ 10m investment in a round led by Al Tayyar Travel Group with STC Ventures also participating

Careem announced today that Al Tayyar Travel Group recently led a US$ 10 million investment round in the company with existing investor STC Ventures and other regional investors also participating to further expand its technology-enabled chauffeur-driven car booking service across the Middle East and beyond. Dubai, Riyadh, December 2, 2014: Careem, the UAE-headquartered app and...

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GlamBox receives $1.4m funding boost from MBC, STC and R&R Ventures

Dubai, October 2, 2013: GlamBox, the UAE start-up that is changing the way women consume beauty via its convenient monthly subscription service, delightful online shop and lively community, has attracted $1.4m from MBC Ventures, STC Ventures and R&R Ventures, in its first round of funding. The newly acquired funds will help GlamBox scale rapidly and strategically its...

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Careem, the UAE-based ground transportation technology start-up, receives US$1.7m investment in a round led by STC Ventures

Careem announced today that STC Ventures, backed by Saudi Telecom Company, recently led a US$1.7 million investment round in the company that also included prominent regional angel investors to expand its car booking service across the Middle East. Dubai, September 9, 2013: Careem, a UAE-based chauffeur-driven car booking service, currently serving Dubai, Abu Dhabi, Doha...

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