News

First Female Saudi Astronaut To Join International Space Station

Saudi Arabia will send a male and female astronaut to the ISS in Q2 of 2023.

Published

2 years ago

February 14, 2023

Nour Nasir

first female saudi astronaut to join the international space station

Saudi Space Commission

Saudi Arabia has officially announced that it will send the first female Saudi astronaut to the International Space Station in Q2 2023 as part of a two-person team. The mission follows in the footsteps of the neighbouring United Arab Emirates which became the first Arab nation to send a citizen into space, back in 2019.

Rayyanah Barnawi and teammate Ali AlQarni will join the crew of the AX-2 space mission in a historic flight that will launch from the USA. Meanwhile, the Saudi Human Spaceflight Program will commence the training of two further astronauts, Mariam Fardous and Ali AlGamdi, for the mission.

The Kingdom of Saudi Arabia hopes the mission will bolster human spaceflight capabilities and help the country benefit from the opportunities provided by being an active participant in the space industry. An official statement explained that the flight would be “contributing to scientific research that serves the interests of humans in essential fields such as health, sustainability, and space technology.”

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As well as boosting research and development in space-based innovation, The Saudi Human Spaceflight Program will also aid new graduates in the fields of science, technology, engineering, and mathematics (STEM). According to the Saudi Space Commission, the mission to the ISS will make the country one of only a handful to simultaneously bring two astronauts of the same nationality to the International Space Station.

The Spaceflight Program contributes to Saudi Arabia’s Vision 2030, a unique transformative economic and social reform blueprint. The AX-2 mission will help to further the country’s plans for the future and enable Saudi innovation to take center stage in the global, connected economy.

News

Paymob Extends Series B Funding To $72M Amid Continued Growth

The financial services provider has secured an extra $22 million after strong performance in its core market of Egypt.

Published

17 hours ago

September 12, 2024

Nour Nasir

paymob extends series b funding to $72 million amid continued growth

Leading financial services provider Paymob has secured an additional $22 million in a funding extension, bringing its Series B total to $72 million.

The funding was spearheaded by EBRD Venture Capital, with support from Endeavor Catalyst. Existing backers such as PayPal Ventures, BII, FMO, A15, Nclude, and Helios Digital Ventures also participated, reaffirming their confidence in Paymob’s business model and potential in the regional fintech industry.

This extension comes on the back of Paymob’s strong performance in its core market of Egypt, where it has experienced 6x revenue growth since the initial Series B in Q2 2022. With the Series B extension and continued profitability in Egypt, Paymob is well-positioned to further its expansion strategy across the MENA region.

Islam Shawky, Co-founder and CEO of Paymob, commented: “We are very excited by our strong prospects in Egypt – where we hold a market-leading position – and the significant traction experienced in the UAE since launching operations there. This funding will help Paymob fully capitalize on the momentum in our established markets, as we accelerate our GCC roll-out. We remain committed to creating cutting-edge infrastructure enabling SMEs across the region to thrive in the digital economy and are proud of our continued impact”.

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The expansion into GCC markets has been driven by Paymob’s initial Series B funding of $50 million, raised in 2022 and led by Kora Capital, PayPal Ventures, and Clay Point. The investment fueled Paymob’s growth, allowing it to launch its mobile app in 2023 and grow its merchant base by 3.5 times, now serving nearly 350,000 merchants across MENA.

Paymob has also expanded its payment acceptance suite to offer 50 payment methods through its gateway, POS terminals, and the Paymob app, providing the region’s most comprehensive fintech solution. The company recently introduced embedded checkout services for Shopify and WooCommerce, further demonstrating its commitment to empowering small and medium businesses across the region.