VC React Podcast (E34): State-Owned or Built vs VC-Backed Tech? Is Saudi A New Global IPO Market?

VC React Podcast
Written By Ahmad Takatkah
 
 

VC React Podcast:

Every week, we bring you insights and reactions from top VCs, LPs, and Angel Investors, reacting to the latest news on MENA startups, VCs, and investment rounds. Stay tuned for: expert analysis, independent opinions, and maybe some heated conversations!

Hosts:

Available on:

Guests:

1. Arnav Danthi, Principal, @ Nuwa Capital
- LinkedIn Profile: https://www.linkedin.com/in/arnavdanthi/
- VC Firm Website: https://www.nuwacapital.io/

2. Amira Swilam, Partner @ Den VC
- LinkedIn Profile: https://www.linkedin.com/in/amiraswilam/
- VC Firm Website: https://denvc.com/

3. Mo Salah, Partner at @ Pitlane Ventures
- LinkedIn Profile: https://www.linkedin.com/in/thisismosalah/

In Today's Episode:

News of the week brought to you by FWDstart:

  • UAE cybersecurity leader CPX acquires pioneering cyber-AI firm SpiderSilk
    Summary: Abu Dhabi-based CPX Holding has acquired spiderSilk, a UAE-born cyber-AI startup known for its flagship exposure management platform, Resonance, and autonomous SOC AI agents. Founded in 2019 by Rami El Malak and Mossab Hussein, spiderSilk has developed proprietary, AI-powered cybersecurity products used by both public and private sector clients across the region. The acquisition brings CPX’s service-led capabilities together with spiderSilk’s product-led innovation, creating a unified platform to scale into key markets like Saudi Arabia, the GCC, and North America. The company’s last raise was a $9M Series A back in 2023, led by Wa’ed Ventures. Global Ventures and Dara Holdings will remain part of the journey, supporting CPX’s leadership in driving the company’s continued growth.

  • Travis Kalanick’s CloudKitchens eyes IPO for Middle East unit
    Summary: Travis Kalanick’s CloudKitchens is reportedly exploring an IPO for its Middle East unit, with Goldman Sachs hired to assess a potential listing in the UAE or Saudi Arabia. Backed by Saudi Arabia’s PIF since a $400M investment in 2019, the ghost kitchen company operates under the KitchenPark brand in the UAE, Saudi, and Kuwait. The move puts it on a potential collision course with Dubai-based Kitopi, the regional category leader that became a unicorn in 2021 and has since expanded into physical dining spaces. No final decision has been made on timing or valuation, but the IPO could signal rising competition – and consolidation – in the Gulf’s cloud kitchen space..


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Ahmad Takatkah
Next

VC React Podcast (E33): Holding Model vs Typical VC! SME Finance Boom, Secondaries Infra, and More!