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InfiniLink has secured $10 million in seed funding to enhance AI data center connectivity, addressing the challenges of rising power consumption and bandwidth demands. The investment, led by MediaTek and Sukna Ventures, aims to commercialize ultra-efficient optical transceivers and expand globally. This breakthrough could significantly reduce energy usage in data centers, which currently consume about 2% of global electricity.
Lumi AI, a UAE-based startup, has raised $3.7 million in seed funding to enhance its conversational analytics platform, aimed at transforming complex ERP and supply chain data into actionable insights without requiring technical expertise. The company’s innovative self-service chat interface allows users to generate detailed reports and visualizations through natural language queries, addressing inefficiencies in traditional business intelligence tools. With a diverse customer base and plans for expansion, Lumi AI is poised to redefine data accessibility in various industries.
Fuse, a UAE-based fintech company, has raised $6.6 million in seed funding led by Northzone to enhance its cross-border payment solutions in the MENA region. The company, known for pioneering virtual international bank account numbers (IBANs) in the area, aims to expand its team, acquire regional licenses, and extend its services to new countries. With a growing client base that includes major players like DLocal, Airbnb, and Etsy, Fuse is positioned to capitalize on the increasing demand for seamless international payment solutions.
Japan imported 30.85 million barrels of Saudi crude oil in February, accounting for 45.8% of its total oil imports of 67.3 million barrels, with Arab countries supplying 97.3% of the total. The UAE, Kuwait, Qatar, and Oman were key contributors, while imports from Iran and Russia remained banned.In a separate political development, Japanese Communist Party lawmaker Daimon Mikishi urged the government to direct the Government Pension Investment Fund to cease investments in Israeli military-related companies, citing humanitarian concerns amid ongoing conflicts. Welfare Minister Fukuoka Takamaro stated that investment decisions are made by GPIF's commissioned companies, emphasizing the fund's purpose to benefit the insured.
Abu Dhabi National Energy Company (TAQA) and Emirates Water and Electricity Company (EWEC) have announced a significant energy partnership, including a 24-year Power Purchase Agreement for a 1-GW gas turbine project. This collaboration, involving an investment of around AED36 billion, aims to develop the world’s largest solar and battery energy storage system, supporting the UAE's Net Zero by 2050 goals and enhancing the nation’s energy infrastructure.
Dubai-based fintech company Fuse has successfully secured $6.6 million in seed funding. This investment marks a significant milestone for the firm as it aims to enhance its offerings in the financial technology sector.
Dubai and Ajman have signed a Memorandum of Cooperation to simplify property ownership for companies in the Ajman Free Zones Authority. This agreement allows these companies to obtain freehold ownership of land and streamlines the property registration process, enhancing investment appeal and regulatory flexibility in the UAE. The collaboration aims to foster economic growth and attract foreign investment, reinforcing both emirates as leading real estate destinations.
Fuse, a Dubai-based company, has secured $6.6 million in funding to enhance cross-border payment infrastructure in the MENA and GCC regions. Led by Northzone, the investment aims to simplify complex payment processes through a unified API, supporting clients like Deel, Airbnb, and Etsy. Co-founder George Davis emphasizes the growing demand for efficient financial services, particularly with the introduction of Virtual IBAN technology.
Dubai-based fintech startup Fuse has secured $6.6 million in seed funding to tackle payment challenges for businesses entering the MENA region. The funding round, led by Northzone, includes contributions from Flourish Ventures and angel investors like Flutterwave CEO Olugbenga Agboola. Founded in 2023, Fuse offers a payments infrastructure platform with virtual International Bank Account Numbers (IBANs), enabling cross-border transactions without the need for a local entity. The company plans to use the funds to expand its team, obtain regional licenses, and diversify its product offerings.
The InnovAIte Hackathon 2025 concluded with Team ‘Machine Mindset’ from GEMS Wellington Academy winning for their AI-powered emotion detection system focused on mental health. The event, held at the University of Birmingham, showcased 289 participants from 44 schools, emphasizing AI's role in societal advancement. Runner-up teams included ‘Data Minors’ and ‘ModernAItes’, while ‘STEMPALS’ and ‘Desert Innovators’ received awards for female-majority and Emirati-majority teams, respectively.
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