Flextock, a leading e-commerce enabler in the Middle East, is solidifying its presence in the region. Co-founded by CEO, Mohamed Mossaad and COO, Enas Siam, the start-up launched in January 2021 and witnessed remarkable results shortly after expanding into Saudi Arabia. This enabled the tech-centric company to 10x its Year-over-Year (YoY) net revenues last year while also more than doubling its gross profit margin by leveraging technology and scale.KSA is one of the world's 10 fastest-growing e-commerce markets[1]. Witnessing a compound annual growth rate (CAGR) of 15.01%, it is projected to grow from a market size of $11.83 billion in 2023 to $23.80 billion by 2028[2]. The strength of this market, and its promising potential moving forward, has accelerated Flextock’s growth. In one year, the company has successfully acquired hundreds of merchants and currently dispatches thousands of orders daily.A play on words combining flexibility and stock, Flextock started by addressing inefficiencies within warehouses before evolving to be a complete enabler for e-commerce merchant growth. The company leverages the power of technology to provide a three-in-one service which entails solutions related to logistics, sales, and fintech. While several companies offer one or two of these services, Flextock is a market first as it provides all three of these solutions to propel merchants into a realm of unparalleled empowerment.From a logistics standpoint, Flextock can be easily integrated into existing stores to efficiently manage the entire order fulfilment cycle, process inbound inventory, and provide the most effective last-mile experience; the company prioritizes accuracy and cost-effectiveness in storing inventory, ensuring clients can effortlessly scale their operations and track orders at the simple tap of a button. Regarding sales growth, Flextock offers merchants access to various channels to effectively grow while reducing reliance on traditional social media advertising.Mohamed Mossaad commented: “Our comprehensive approach underscores a commitment to providing efficient and reliable services for seamless e-commerce operations while enabling all parties to profit. In a geographic area grappling with challenges in these operational landscapes, our overarching goal was to offer a targeted solution that would comprehensively support the region’s ongoing shift from traditional retail to e-commerce; we have achieved this vision by recognizing a regional lag, jumping on the opportunity to propel this transition, and prioritizing the success of businesses and merchants before our own. Our mission is to be a solution-oriented platform, prioritizing our merchants above all else - because we believe that as we help merchants grow their sales, our business will also flourish, and the industry as a whole will benefit. It’s a win-win-win situation that is dependent on merchants thriving and we are proudly leading the charge.”Flextock is a hub for a diverse range of users, accommodating micro-brands and large-scale retailers. The company’s commitment to inclusivity is evident in the customization of its services and products to meet the needs of e-commerce merchants. The platform strategically spans more than 10 industries with an emphasized focus on cosmetics, home accessories, fashion, and electronics. Amidst its ongoing regional expansion, Flextock's cutting-edge technology and strong presence in KSA and Egypt solidify its position as a solution-oriented leader in the dynamic e-commerce landscape across the region.

CE-Ventures, the corporate venture capital platform of Crescent Enterprises, has partnered with MAGNiTT, the leading venture capital data platform in the MEAPT region [Middle East, Africa, Pakistan and Türkiye], to unveil 'The State of Climate Tech Venture Capital Report’. This groundbreaking and timely report delves deep into the dynamic landscape of climate tech investments in the Middle East and North Africa (MENA) and Türkiye region, providing insights into key trends, challenges, and opportunities in this rapidly evolving sector.The report provides a comprehensive overview of climate tech investments in the region and highlights the importance of harnessing innovative technologies to combat climate change. With existing technologies holding the potential to mitigate 65% of all emissions, the report underscores the significance of further advancements to bridge the remaining 35% emissions gap.Key Highlights from the Report:Record-setting climate tech Investment: Climate tech investments reached an unprecedented global total of US$ 82 billion in 2022, marking a 20% increase from the previous year.In the MENA and Türkiye region, US$ 651 million were invested in 148 startups between 2018 and 2022.2022 was a record year for climate tech funding in the MENA & Türkiye region with total investment crossing a quarter billion dollars for the first time ever and resulting in a 50% increase compared to the previous year.The UAE leads the region with 62% of total climate tech venture funding, while Türkiye saw the greatest number of deals at 80.During H1 2023, the region has seen 30 transactions executed, which already represents 60% of the total number of transactions in the previous year.Startups in the agriculture sector, developing solutions towards climate resiliency, accounted for a majority of the venture capital invested over the past 5.5 years.Commenting on the report, Badr Jafar, CEO of Crescent Enterprises and COP28 Special Representative for Business & Philanthropy said: "The Middle East is highly exposed to the effects of climate change. Our natural water scarcity, coupled with temperatures rising at twice the global average, foreshadow an increase in drought and extreme weather events that can impact hundreds of millions of lives. This ‘State of Climate Tech Venture Capital Report’ highlights the ingenuity of our regional entrepreneurial ecosystem, where investors, ecosystem enablers, and policy leaders are coming together to develop a multi-pronged approach towards addressing climate change. We need to move faster, and together, if we are to meet the challenge and embrace this essential opportunity.”Philip Bahoshy, CEO of MAGNiTT added: "We are excited to unveil our collaboration with CE-Ventures, the regional leader in the climate tech industry. As the expert VC data platform in MEAPT, we are keen to be first to present insights on the region’s industry. We are confident that our transparent data, though in its infancy for this particular subject, will spark increased interest, educate enthusiasts, and foster essential dialogues, particularly with COP28 on the horizon. Over the past few years, the sector has witnessed a remarkable surge in investor interest, boasting an impressive Compound Annual Growth Rate (CAGR) of 62% from 2018 to 2022, resulting in a pinnacle of $256 million in capital deployment in 2022. We eagerly anticipate the industry’s continued progression and development."The launch of the report is timely, as it is a month ahead of the beginning of COP28 UAE, which will include the convening of leading business leaders and philanthropists from around the world at ‘Business & Philanthropy Climate Forum’, COP28’s private sector engagement platform.

Oasis Defender, a UAE-based startup, is advancing multi-cloud security with its AI-driven SaaS solution for cloud network security, designed for unified visualization and configuration across multiple clouds.In 2023, the UAE cybersecurity market is valued at approximately USD 522.06 million and is projected to reach USD 950 million by 2028, showcasing a CAGR of 12.72% from 2023 to 2028. Although the UAE ranks second worldwide in cloud adoption, businesses in the region are also facing a surge in cyberattacks. These attacks lead to breaches of sensitive data and result in substantial financial losses, underscoring the need for robust cybersecurity for both cloud and multi-cloud adopters.Oasis Defender offers a SaaS solution for cloud network security. Powered by AI, their platform ensures safe and secure cloud network configurations. The platform consolidates security details from various clouds into a single, user-friendly interface, helping businesses reduce human errors, swiftly identify potential breaches, and stay compliant with the data and privacy regulations across the GCC region and others.Among the key features that this SaaS cloud network security solution offers are:Securing the entire cloud infrastructure across multiple providersOffering a seamless process for visualizing and managing multi-cloud security configurationsUsing AI and machine learning to detect potential vulnerabilities and threatsConsolidating security data from various cloud providers into a unified, user-friendly dashboardLeveraging the strengths of each cloud for enhanced securityOasis Defender aims to foster collaboration and innovation within the cybersecurity community to tackle the digital challenges contemporary businesses face. An interactive demo of their AI-driven cloud network security solution is now available for security enthusiasts. "We're glad to announce that our SaaS solution for cloud network security is ready for public evaluation," stated Michael Rostov, CEO of Oasis Defender. "We're dedicated to continuous innovation and updates for our platform, and we welcome security experts to contribute to its enhancement."Oasis Defender encourages B2B users, developers, security professionals, and IT decision-makers to explore their solutions and provide valuable feedback and reviews.