Venture Capitalists News Hubb
Advertisement Banner
  • Home
  • Venture Capital Market
  • Venture Capital Funding
  • Contact
No Result
View All Result
  • Home
  • Venture Capital Market
  • Venture Capital Funding
  • Contact
No Result
View All Result
Venture Capitalists News Hubb
No Result
View All Result
Home Venture Capital Market

The Capital Quest | Cypher Capital backs UAE’s Rekt; Ibtikar Fund bets on Jordanian startup

admin by admin
November 19, 2022
in Venture Capital Market


Rekt Studios, a UAE-based blockchain-focused startup, has secured $1.5 million in funding from Cypher Capital.

Rekt said the funding will go towards the development of its gaming metaverse ecosystem, Unseen.

According to the startup, Unseen is a “fully immersive, interoperable decentralised virtual ecosystem centred around gaming, built to be accessible directly through the ownership of any Ethwreum Virtual Machine-compatible Non-Fungible Token (NFT) in existence.”

Rekt Studios was founded in 2021 by Elie Rizek and provides developers and designers with tools to develop blockchain-based products.

Launched earlier this year in Dubai, Cypher Capital is a $100 million VC fund focused on backing startups in web3, blockchain, crypto and other digital assets.

As part of the deal, Bill Qian, Chairman of Cypher Capital, and Rekt Studio’s board advisor “will support the studio’s ambitious plans for operations, partnerships, and growth,” the startup said in its release.

Ibtikar Fund

The Palestine-based Ibtikar Fund and the Architects Contracting Company (Arco) have invested an undisclosed amount in Algebra Intelligence, a Jordan-based software development firm focused on the energy sector.

Founded in 2020 by Ahmad Altawafsheh, Ala’a Alghwiri and Batool Almallahi, Algebra Intelligence is a software development firm that integrates AI solutions into the energy sector.

Its flagship solution, TaQTaK, enables its clients to understand their energy usage and wastage and can look to incorporate renewable energy systems, specifically solar energy, to decrease their electricity consumption at lower costs.

Algebra Intelligence will use the new investment to develop AI-based products and to expand into the Saudi market.

Related



Source link

Previous Post

Web3 Watch: Yuga Labs Adds to Portfolio, Nike Creates NFT Marketplace

Next Post

Innovation is the name of the game for Cohort 3 of the HPE Digital Catalyst Program

Next Post

Innovation is the name of the game for Cohort 3 of the HPE Digital Catalyst Program

Recommended

MakerDAO Founder Seeks $14 Million in MKR to Fight Climate Change

6 days ago
[Weekly funding roundup Oct 3-7] Venture capital inflow into startups continues to decline

[Weekly funding roundup Oct 3-7] Venture capital inflow into startups continues to decline

4 months ago

Analysts Seek Details on New Revenue Streams

3 months ago

India’s G-20 presidency will be inclusive, ambitious and action-oriented: PM Modi

3 months ago

Deep science incubator C-CAMP sees 7 startups raise $70M in 4 months

6 months ago

Beauty giant Nykaa’s shares dip below IPO listing price

4 months ago

© 2022 Venture CapitaLists News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Venture Capital Market
  • Venture Capital Funding
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • Venture Capital Market
  • Venture Capital Funding
  • Contact

© 2022 Venture Capitalists News Hubb All rights reserved.