Wamda Weekly - 24 Nov 2022

calendar  Date: 24/11/2022

Too often, those at the "bottom of the pyramid" are ignored with companies chasing the custom of wealthier consumers. But for Kashif Khan, the real opportunity lies in addressing the wants and needs of blue collar workers. His rewards platform, Savings, has attracted two million paying users in just one year. 
Over the past couple of weeks, the tech giants of the world have announced tens of thousands of job cuts as they struggle with the global economic crisis and over-optimistic expansion policies. Reem M. Osman, chief people officer at AI startup nybl, explains the risks of hypergrowth for talent, investment and innovation. 
Once valued at $1.5 billion, Egypt-born and UAE-based mass mobility startup SWVL continues to struggle, with a new wave of mass lay offs and a share price that puts it at risk of being delisted by the NASDAQ. How did one of the region's most promising unicorns see its market capitalisation drop so dramatically?
In case you missed it - here's our round-up from News Watch:

Flat6labs, Dar Al Handasah, SIAC launch 'Makers' to support contech startups in Egypt

Saudi edtech Jeel raises $1.1 million Seed from EdVentures

Modus partners with USAID to launch venture builder in Egypt

UAE fintech Qashio raises $10 million Seed to accelerate KSA expansion

Grinta raises $8 million Seed round

Morocco's edtech startup SmartProf raises $110,000 pre-Seed round

Rekt Studios raises $1.5 million from Cypher Capital to develop Meta gaming ecosystem

CONIX.AI raises $1.3 million pre-Seed round led by BIM Ventures

Ibtikar Fund, Arco announce investment in Algebra Intelligence

KLAIM raises $5 million Seed from Knuru Capital with plans to increase round to $30 million

DataLexing raises $3 million seed round led by Sadu Capital

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