Dimitra Theodoropulos

Sign of maturing - Tale of two IPOs in UAE - LuLu Group International and talabat Two marquee beloved household names have gone public in #UAE in the last month - talabat on Dubai Financial Market and Lulu on Abu Dhabi Securities Exchange. Both primary play in the #food and #grocery sector. They are present in multiple geographies in #MENA. They are amongst the leaders in their focus segments (#Hypermarkets for Lulu and #Hyperlocal for talabat). They are present in multiple verticals (Fashion, food services, grocery and other retail to name a few)....and both have been over subscribed. However, they could not be more different - Lulu is an incumbent with large physical presence in hypermarkets and supermarkets that stocks a large variety of SKUs. They are now strengthening their digital footprint. On the other hand, Talabat started with food delivery and now is also growing fast in the quick-grocery or #quickcommerce segment. They are also expanding into other verticals and also looking to extend their presence in offline. The fact that such diverse companies are doing IPOs is clearly a sign of a maturing economy and investment climate in our region! We are just getting started... https://lnkd.in/d8g3atxt

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UAE-based startups led the region in funding last month, securing $82.5 million across 15 deals. Egyptian startups followed with $15 million raised by four companies, marking the second-highest total. Saudi Arabia dropped to third, with seven startups raising $13.5 million. Notable activity was also observed in Iraq, with six startups raising an estimated $1.2 million, though this amount could be higher as Orisdi, BonLili, and Alsaree3 did not disclose their investment values. Sector wise, fintech reclaimed its position as the most funded sector in June, securing $38 million over 10 deals, closely followed by contech, thanks to Tenderd’s deal. Meanwhile, three proptech startups raised $19.6 million in June, reversing the lead it achieved in May. The majority of June’s investment went to the pre-Series A stage, as four startups received $45 million, followed by the Seed stage, where five startups raised $27.3 million. However, when considering investment volume, early stage startups are still capturing the attention of investors, where eight startups at their pre-seed stage garnered $3 million, and eight others received $140,000 in grants. Wamda Capital Wamda ومضة Nesma Abdel Azim

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I'm looking forward to discussing scaling and nurturing businesses at the Arabian Business Leadership Summit tomorrow at the Armani Hotel in Dubai. Join me for insightful discussions and learn from esteemed leaders across sectors. Here is my take on leadership: at Binary Media, it is always about creating spaces where people feel seen and valued, where their voices are not just heard but matter, and where the vision is not just my own but ours—collectively envisioned. https://lnkd.in/dADM38h7

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“It was worse than a crime; it was a mistake” Famous words said by French 19th century diplomat - Talleyrand after a political blunder by his boss, Napoleon, who ordered a cross-border raid to kidnap and execute a prominent political opponent. This move convinced many that Napoleon was a tyrant rather than the champion of revolutionary liberty. The same can now be said about the UK and the rest of EU Tax policies targeting the most productive members of their societies instead of focusing on real life problems. The result is good for UAE though😊 __________________________________________________ Dubai’s financial hub is now home to family offices that control over $1 trillion in assets, driven by the influx of high-net worth individuals over the past few years. https://lnkd.in/debhNeJN

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Our CEO Alex Bombeck was recently featured in Riyadh Daily. He shared how businesses can leverage the possibilities that the Kingdom of Saudi Arabia’s (KSA) dynamic marketplace presents and set themselves up for constant success by ​⏬​ 1. Prioritizing progress over perfection 2. Being the best at getting better 3. Empowering your people with skillsets I recommend you have a read of the article to discover more of Alex’s insights in our newsroom. #SaudiArabia #Transformation

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Ecommerce logistics is scaling up globally. In the Mideast, Locad just raised $9 million to expand in Saudi Arabia and the UAE. It was led by Global Ventures and ReefKNoT Investments. And the financing will enable Locad to scale up in AI-driven logistics services, including ecommerce fulfillment, warehousing and inventory management. In logistics, we've seen the success of global consolidators like XPO. Will we see someone take a similar approach in supply chain technology? https://lnkd.in/edxMBaWw

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After experiencing my first Uber ride and those long queues in Carrefour, I embarked on a startup journey to develop a high-basket value grocery delivery service tailored for the GCC market. As a solo founder, I invested my own funds to kickstart product development and later, got my boss, his friend and some prominent Qatari angels to invest in the idea. On my first investment commitment, I resigned from my banking job - iOS app was already on the app store. Here are some key highlights from our early days: 👉 Funding: We eventually raised USD 300K from angel investors in Qatar and a Silicon Valley-based micro fund, which provided the necessary capital to kickstart and sustain our cashflow-positive operations for some years. 👍 Product Development: Our team led the development of mobile apps for both consumers and pickers. This effort resulted in 75K installs, 18K signups, and over 3K monthly active users. ✅ Partnership with Lulu Hypermarkets: Onboarding Qatar’s leading supermarket allowed us to showcase 10,000 grocery SKUs on our app, significantly enhancing our product offering. Though these look like some numbers, but a whole lot of blood, sweat and tears went into building a nascent, fragile early-stage startup with sleepless nights, stressful days and everything in-between. I've definitely built up some resilience muscles through all of this 🫡 #Suncart #founders #CEO #StartupJourney #mvp #product #startups #entrepreneurship #tech

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The MENA region is still in the early stages of the economy, in start-up terms it's still seed! That means future opportunity is still huge. With no outright winners in a lot of the spaces that startups traditionally go after. This means that whilst many see the rise in the economy, there’s still a lot of space for people to come in and win. Not to mention, due to the infant nature of the startup space, people are still willing to sit, support and connect. For the MENA ecosytem to grow we can’t be cut-throat, we have to be collaborative, open, and forward-thinking. The success of one startup often lays the foundation for others to follow, creating a ripple effect that benefits the entire ecosystem. The MENA region isn’t just building businesses; it’s building a culture of innovation and resilience. By sharing resources, knowledge, and networks, we have the chance to shape a future where success isn’t just individual—it’s collective. This is a rare moment in time where founders, investors, and innovators can truly define what the future of the region looks like. The question is: how will you contribute to this growing story?

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Are chatbots dead? 🤖 Check out our take on the latest conversation with Fintech Surge and Ornella Hernandez on the new form of relational commerce and what that means for the digital customer journey:

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🌍 Since moving to #Dubai seven years ago, I’ve encountered a world far from the myths and misconceptions often associated with this region—especially regarding how #women are treated. Here, I’ve found that I can balance my feminine side at work without feeling pressured to prove myself or adopt a “masculine” stance. In Europe, I often felt compelled to behave more assertively, consciously aligning myself with “masculine” traits. But here—perhaps surprisingly to many—my role feels more gender-neutral, and my contributions are valued for what they are, not based on my gender. This environment fosters #diversity, #equity, and #inclusion, allowing women to feel truly respected and heard. When women are encouraged to be authentic, celebrated for their femininity, and not pressured to prove their strength through masculine traits, a profound shift occurs! Feminine movements become less about “fighting for rights” and more about celebrating the equality already present and further empowering women. 💡 When women feel equally valued, men can thrive as themselves too, creating a balanced and harmonious workplace for everyone. To me, this is real inclusion: where women and men are free to be authentic without having to prove or defend who they are in relation to each other. Listen to my podcast (in Polish for now) where I share diverse perspectives from women living and working here: https://lnkd.in/dg8SwheF For my personal story, tune in to the podcast “Doing My Way” by Beata Matras: https://lnkd.in/daCXaDAz #MiddleEast #Inclusion #Diversity #WomenInLeadership #Authenticity #Equality #Leadership #Podcast #PersonalProject ForbesWomen Perspektywy Women in Tech

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"The UAE aspires to have a more diverse, knowledge-based economy. What are some of the most important goals of the UAE under this vision, and how does the government aim to turn them into actionable and impactful results? At this critical juncture for social, economic, and human development, the UAE is doubling down on its efforts to build a more resilient world. In the UAE, we aim to build a strong and well-rounded knowledge-based economy by strategically integrating key elements across its various sub-pillars. We strive to provide cutting-edge education that caters to lifelong learners, fostering an ecosystem that will eventually cultivate skilled, knowledgeable, and well-educated individuals. These individuals will be equipped to design the future and continuously upgrade their skills throughout all stages of life. We also aim to create an advanced environment that fosters innovation and shapes the future. This includes establishing research and development centers, supporting startups, and enhancing collaboration between academia, government, and the private sector. Our goal is to remain at the forefront of the digital economy, driving productivity and efficiency while creating new opportunities in emerging industries. A diversified, knowledge-based economy is also the product of a dynamic and competitive environment. It is an economy that is fast-paced and focused on promising sectors, such as advanced industries and financial technology, while also investing in emerging sectors of the future, such as space exploration. Our vision drives us to build competitive, flexible, and highly productive human capital. Stimulating local talent and attracting global talent are crucial responsibilities for leaders in government as we work to shape the future of our economy and society. Talent is a primary economic driver behind the leadership’s vision for developing a diverse, knowledge-based economy. By fulfilling the ambitions outlined in We the UAE 2031, we aim to further enhance the UAE’s position as a dynamic, attractive, and competitive hub of innovation. To ensure effective implementation, we have set ambitious national goals, including: Doubling GDP from AED1.49 trillion to AED3 trillion Generating AED800 billion in non-oil exports Increasing foreign trade to AED4 trillion Boosting the tourism sector’s contribution to GDP to AED450 billion"

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To my fellow managers, CEOs, and HR friends across MENA: this is a reminder to lead with empathy and compassion. It’s challenging to disconnect from what’s happening in our region and function at work, let alone put our best selves forward. Approach your employees gently, with an understanding that they are likely carrying many burdens. —

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How do you make $2.2 billion a year and sponsor Ronaldo? You create Talabat.com And take over 76% of the UAE's food delivery market Consistency, action, and more action. That’s what Abdulaziz Al Loughani, the founder of Talabat, did. Here’s how Talabat started and how it impacts our lives, in under 60 seconds. Back in 2004, Abdulaziz realized that ordering food online was a challenge. There were no smartphones or Google Maps, and if you wanted food from outside, you probably had to get it yourself or make a few phone calls. So, he set out to revolutionize how we ordered food. In 2004, Abdulaziz started Talabat in Kuwait. And it was a hit. After numerous product developments, in 2008 and 2009, Talabat won the Best E-Business Award in Kuwait. By 2010, Talabat was averaging more than 1,250 daily transactions in Kuwait and Saudi Arabia. In 2012, Talabat expanded to the UAE, Bahrain, and Qatar. In 2015, Talabat was acquired by Delivery Hero, one of the world’s leading online food services that operates in more than 40 countries. In 2019, Tomaso Rodriguez, was made the CEO of Talabat. But Talabat hasn’t had it easy. When COVID-19 lockdowns hit the world, Talabat was left with a choice. They could focus on profits or contribute to society positively. And what did they do? Both. Talabat played a significant role in supporting local communities by delivering food, groceries, and medicines. They also started a 24/7 q-commerce store, Talabat Mart, that delivered everything from groceries to flowers in less than 30 minutes. And it paid off. In 2022, Talabat made a net profit of $194 million, while its competitors made collective losses of more than $355 million. Today, Talabat generates $2.2 billion in yearly revenue with more than 80,000 riders. They have a 76% market share in the UAE’s food delivery service industry and have millions of monthly users. Constant innovation, constant success, and constant growth. In 30 minutes. Or less.

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Looking to build strategic partnerships for your business? I ask the Blacklane Global Head of Partnerships and ex-Careem Director Adib Samara the key to raising 9 figures of funding, the best financial advice he's ever received, and the biggest mistake he sees founders make. "One mistake founders make is to think they can do everything themselves and they don't ask for help. Another mistake is they think entrepreneurship in itself is fun and cool. In reality it's tough, and if your business isn't solving for something, then you're in a lot of trouble. " Book a tailored 1:1 video call with Adib on Callmi here: https://lnkd.in/d6mgUaDQ

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The UAE is home to 25% of the Middle East's leading family businesses, with 92% of them operating as diversified conglomerates. The recent collaboration between The Abu Dhabi Department of Economic Development (ADDED) and United Arab Emirates University (UAEU) to introduce Abu Dhabi’s first family business index is pivotal to the emirate's economic success. It aims to enhance the economic intelligence and research capabilities, offering valuable insights into economic diversification and growth strategies. #FamilyBusinesses #GrowthIndex GMG

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Chart your course to a successful IPO with Middle East Advisory Partners. #InitialPublicOffering #DubaiBusiness #BusinessLeaders #Entrepeneurship #Investment #SMESupport

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Kitchens could soon be removed from home designs, replaced by food delivery for all our nutrition and cultural needs. I find it fascinating that we are at the stage where urban development and e-commerce can seamlessly complement one another like this, driven by our increasing reliance on technology to meet our daily needs drives. For a certain lifestyle—fast-paced, convenience-driven, and hyper-connected—this might work, but I can’t help feeling uneasy about where this is heading. Humans need interpersonal relationships to thrive and grow and many of these start in the kitchen. In the Middle East especially, the kitchen is a place where recipes are shared, traditions are passed down and culture is kept alive from generation to generation.  All this is gone when all you can do is teach your kids the best way to open a food container. I know my kitchen is a crucial part of my home – some of the best family interactions I have happen whilst I am chopping mushrooms and cooking nuggets. The younger generation are so far removed from the food value chain, many can’t even tell you how an asparagus is grown. (think little trees) Imagine growing up in a home where the only food to enter the house comes ready to eat in a plastic box. Developers have a responsibility to deliver profit, but they also have a responsibility to create livable, human communities. Kitchen-free homes might suit some, but for me, a home without a kitchen doesn’t feel like the way to achieve that. https://lnkd.in/dUhmvbs2

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Building a startup in the Middle East back when the ecosystem was still in its infancy wasn’t just ambitious—it was daring. Mohammad Al Zaben didn’t just take that leap with MUNCH:ON; he reshaped how we think about food delivery and proved the potential of the region when it was acquired by Careem in 2022. In a space where exits are rare, Zaben’s journey reminds us what real founders do—they create, they endure, and they build legacies. The Middle East Hustle.

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Yesterday I watched this Ali Abdaal's video about 'failing' in a new business (https://lnkd.in/du42SR7f ) and I was struck by how refreshingly honest and transparent he was. In an era saturated with content promoting the glamorous side of entrepreneurship and financial freedom, it was refreshing to hear someone acknowledge the darker side of things and the tough decisions that need to be made. For me, it was a reminder things can and go wrong even with the best laid plans. The video offered numerous insights especially regarding the development of physical products. One key takeaway that resonated with me was that it’s crucial not to underestimate the value of incorporating user input and reviews into the product development process before launching it to the market. With physical products, rushing to create a 'minimum viable product' and adopting a "move fast and break things" mentality can ultimately harm your brand. Since we ventured into developing our own brand products at Hadiya, this lesson hit home for me.  We encountered challenges and setbacks, including losses from products that were manufactured but didn’t meet our quality standards and were ultimately scrapped before reaching the market. However, these experiences have taught us the importance of focusing on slow productivity and ensuring that every product we bring to market reflects our brand's values and commitment to excellence. As Ali put it, "doing something half-baked is worse than not doing it at all."

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