Top 5 VC deals in the fourth quarter of 2019

Top 5 VC deals in the fourth quarter of 2019

The fourth quarter 2019 top five venture capital (VC) deals that were disclosed amounted to $78.7 million, with UAE-based Trukker accounting for $23 million of that.

Of the top five deals, Egypt's Adzily was the only startup not based in the UAE. The quarter marked a positive end to 2019, raising more than $50 million more than the top five deals of the third quarter.  

 

1) Trukker

UAE-based on-demand truck aggregator Trukker has raised $23 million in one of the largest Series A funding rounds in the Middle East from Saudi Technology Ventures (STV), International Finance Corporation (IFC), Endeavor Catalyst Fund and Middle East Venture Partners (MEVP) as well as participation from existing investors including Riyad TAQNIA Fund, Oman Technology Fund, Iliad Partners, and Shorooq Ventures. 

The Company will use the funding to grow the team, enhance customer experience and strengthen its operating infrastructure across the road freight network in the region. Trukker is operational in Saudi Arabia, UAE, and the rest of the GCC and is in the process of expanding to Egypt, Jordan and the wider Middle East region.

2) Ekar

Carshare startup, ekar closed a $17.5 million Series B round led by Polymath Ventures with participation from Al Yemni Group and Audacia