Why is Iraq Middle East’s new destination for start-up investments?

SourceZawya
SectorTechnology
CountryMiddle east

Start-up funding is trickling in, notably from venture capital firm Iraq Tech Ventures, and super app contender Lezzoo received funding from Northern Gulf Partners and Pay it Forward.Lezzoo landed a seven-figure funding deal in July following graduation from accelerator Y Combinator. The firm was founded by Yadgar Marani, in Erbil, Kurdistan, which is seeing increasing support from non-government organisations (NGOs),Iraq Tech Ventures recently carried out a funding round with Shwan Ibrahim Taha, Chairman of Rabee Securities, along with other investors including Rawaz Rauf, New Venture Manager for Hiwa Rauf Group; Bassam Falah, founder and Managing Partner of Innovest ME; and Subhi Khudairi, President of Khudairi Group.The funding was for a combined value of close to $1.5 million to two Baghdad-based companies, food delivery app Alsaree3, and last mile deliveries company ...read more...