Latest news with #Forus
India.com
31-05-2025
- Business
- India.com
Tension for US as Russian S-400 downs Ukrainian 'Made in America' F-16 fighter jet; soldiers rewarded for...
Tension for US as Russian S-400 downs Ukrainian 'Made in America' F-16 fighter jet; soldiers rewarded for… S-400 Destroys F-16: Amid the ongoing war with Ukraine, Russia claimed that its powerful air defence system S-400 had shot down a Ukrainian F-16 fighter aircraft. This is the first time that the S-400 has destroyed a US-made F-16 fighter jet. Following the development, the private companies and authorities have rewarded the soldiers who were operating the S-400. However, the incident has increased America's tension as it is known for its high-tech fighter jets in the world. Notably, the US has sold the F-16 to dozens of countries, including Pakistan, who are using it for their air defence. Russian Company Rewards S-400 Crew As per a report by TASS, the Foros company, which produces proppants for the Russian oil industry, has rewarded the 12 crew members with15 million Rubles (about USD195,000). The report states that the ceremony was held on May 29 in the presence of commanding officers in the border region. Speculation Of Inclusion Of Su-35 Initial reports suggested the Su-35S fighter jet might have assisted the S-400 air defence system in targeting the F-16. This theory posited that the F-16's low altitude and distance from the S-400 hindered the system's ability to engage it independently. However, the lack of a Su-35S pilot among those recognized for the F-16's downing indicates the S-400 system alone successfully detected, tracked, and destroyed the Ukrainian aircraft. Another Reward From Forus While speaking on the sidelines of the St. Petersburg International Economic Forum, Forus Director General Sergei Shmotyev said that his company will pay an amount of Rs 15 million Rubbles for the first F-16 fighter shot down in Ukraine. On May 16, the Ukrainian Air Force reported through its Telegram channel that its Air Force lost contact with the F-16 while it was performing unspecified 'task'. What Ukraine Said On The F-16 Crash? Ukraine said, 'On May 16, 2025, at about 03:30 [00:30 GMT], contact with the F-16 aircraft was lost. The Ukrainian fighter was performing operations… An emergency situation developed on board the aircraft. The pilot successfully ejected, steering the aircraft away from a populated area.' The pilot ejected safely, and a commission has been appointed to investigate the incident.
Wamda
10-02-2025
- Business
- Wamda
MENA startups drew $863 million investments in January 2025, 89% was debt
At first glance, the startup ecosystem in the Middle East and North Africa (MENA) appears to have experienced a staggering growth in January 2025, raising a total investment of $863 million distributed over 63 rounds. But when discounting the debt financing ($768 million), the amount will be almost similar to January 2024. Last month showed a 210% month-on-month (MoM) increase; however, when excluding debt from both months, there will be a 64% month-on-month drop. At the start of the year, it is common for the investment landscape to encounter a sluggish movement, as investors assess market dynamics while entrepreneurs refine their pitch decks and evaluate their business value before embarking on a fundraising journey. Given the dynamic developments taking place in nascent ecosystems, such as Qatar and Oman, along with the ongoing LEAP 2025 event in Saudi Arabia, we can anticipate a positive first quarter. Lendo and Forus debt deals have propelled the Saudi ecosystem to the forefront of the region, with Saudi startups securing a total of $839.5 million across 21 funding rounds, of which $750 million was attributed to the aforementioned transactions. Notably, the startups based in the UAE exhibited disappointing performance last month, as 15 of them secured merely $14.6 million in funding. The Egyptian ecosystem followed with a total of $6 million through seven transactions. The rest of the MENA countries collectively raised less than $2.5 million. The fintech sector outperformed all others in January, amassing $776.6 million through 11 transactions, bolstered by Lendo and Forus deals. In second place was the proptech sector, attracting an investment of $38.7 million by four startups, while e-commerce trailed shortly after with five deals totalling $30 million. January lacked later-stage investment announcements, except for Lendo, which is at its post-Series B stage. Most of the investment was directed towards Series A through two transactions. However, when looking at volume, the pre-seed stage led with 15 startups obtaining $4.6 million. Investors continued to favour the business-to-business (B2B) model, contributing $692 million to 41 B2B startups, while the business-to-consumer (B2C) model trailed behind, with 20 startups securing $70.5 million. The remaining funds went to two startups operating in both models. In terms of gender, startups founded by male entrepreneurs obtained the largest share of funding, totalling $795 through 47 transactions. Nonetheless, the startups founded by women attracted $61.6 million in funding, showcasing impressive growth. Approximately $5.6 million was designated for startups that are co-founded by both men and women.
