Online business drives funding – investment round-up in March

Online business drives funding – investment round-up in March

iMile , a Dubai-based last mile delivery company, plans to open a new research and development center in the region and expand its services across the Middle East after raising $10 million (Dh36.7m) in pre-Series A funding.. The startup plans to use this funding to develop its product and grow its team.. The funding round was led by Business Incubators and Accelerators Company , with the participation of a number of regional angel investors including Venturesouq .. Al Waha fund of funds invests in Lumia Capital. Bahrain-based, Al Waha fund of funds has confirmed a "substantial" investment in San Francisco-based venture capital firm, Lumia Capital .. Other investors in the round included existing investors Impact46, Saudi Venture Capital Company (SVC) , Watar Partners , and Wamda Capital .. Cartlow , an e-commerce startup that is pushing the "re-commerce" sector in the UAE, has secured an unspecified USD 6-figure amount in its first round of funding..