News

COTU Ventures Launches $54M MENA Startup Investment Fund

The industry-agnostic fund focuses on supporting founders from the inception of their idea through to post-product launch.

Published

2 years ago

February 28, 2024

Nour Nasir

COTU Ventures

COTU Ventures, which stands for Champions of the Underdog, has announced that it has raised $54 million to invest in what it calls “extraordinary founders” in the MENA region.

In a philosophy that explains the firm’s unique name, COTU will help startups at the earliest stages of their journeys, investing at the pre-seed and seed stages, where founders often have difficulty attracting attention from backers.

“I’ve been a part of the regional ecosystem since 2008, and it’s come a long way since then,” explained Amir Farha, founder and GP of COTU Ventures. “Saudi Arabia has opened up internationally, and governments have been driving policies and investment to activate the technology sectors of their local economies. We have a growing young population of tech-savvy, digitally connected consumers with substantial spending power. When you combine this with remarkably low customer acquisition costs and some of the highest revenues per user, there has never been a better and more profitable time to invest in the region than today”.

The fund from COTU is industry-agnostic and instead focuses on identifying and supporting the most talented founders from inception to post-launch. So far, the firm has invested in over 20 early-stage startups, including mortgage platform Huspy, UAE-based ResTech company Supy, and Sirdab, a leading Saudi storage and warehouse management platform.

Also Read: The Cloud Secures $12M For GCC And European Expansion

“Our partnership with COTU Ventures has been a cornerstone of Sirdab’s journey,” enthused Naif Alzahri, the startup’s founder. “Amir and the entire COTU team have contributed a wide array of expertise that has significantly enhanced our strategic, technical, and operational frameworks. Their unique approach to collaboration is rare to find [and the] foundation of trust and mutual understanding not only highlights the extraordinary nature of our relationship with COTU but also makes us eternally grateful for their support”.

COTU’s distinctive approach is rooted in the conviction that an individual’s early years serve as a barometer for their potential success as an entrepreneur. The firm believes there is a profound impact from decisions made during a startup’s infancy, and to that end equips founders with valuable resources, perspectives, and connections to better navigate their entrepreneurial journeys.

News

Syria Just Got Its First Super App Featuring Built-In Digital Payments

Built by UAE-based Syrian founders with the Ministry of Tourism’s backing, My Syria lands as visitor numbers more than double.

Published

5 days ago

August 1, 2026

Nour Nasir

syria just got its first super app featuring built-in digital payments

For most of the past decade, paying for anything in Syria with an international card was effectively impossible. Sanctions, a collapsed banking sector, and years of isolation left the country running on cash. That is what makes the launch of My Syria — the country’s first super app — more than a routine product announcement.

Developed by 121 Living, a company founded by four UAE-based Syrian entrepreneurs — Rami Kaiem, Feras Kaiem, Waseem Qudmani, and Kinan Madi — the app launched in Damascus on July 30 under the patronage of Minister of Tourism Mazen Al-Salhani. It bundles hotels, restaurants, transport, attractions, food delivery, and other lifestyle services into a single platform, currently offering eight services with plans to expand to more than 40 verified tourism and hospitality providers across the country.

Although the app already sounds enticing, the headline feature is its built-in payments. My Syria is the first platform in Syria to support cross-border digital payments through Apple Pay, Google Pay, Visa, Mastercard, and American Express — familiar tools for international visitors, and a route into the digital economy for local businesses that have long operated outside it.

my syria super app launch event

The launch rides on a sharp rebound for the troubled country. Syria’s tourism sector recorded 3.52 million visitor arrivals in the first half of 2026, a 111 percent increase over the 1.67 million during the same period in 2025 — a mix of returning expatriates, regional visitors, and international tourists.

Also Read: This UAE Platform Wants To Replace Fashion Photo Shoots With AI

The Ministry of Tourism, which supported and supervised the app’s development, frames the launch as proof of concept for a wider strategy. “Digital transformation is one of the Ministry’s strategic priorities because it enables us to build a more competitive, connected and investment-ready tourism sector,” Al-Salhani said, inviting technology companies “globally, regionally and locally” to explore opportunities across the wider economy.

For 121 Living, this is phase one, with additional services and expanded geographic coverage planned. Whether a super app can flourish in a market still rebuilding its infrastructure is an open question, but for the first time in years, a visitor to Damascus can pay for dinner with their phone.