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Qatar’s Rasmal Ventures Turns to Asia and Turkey for Tech Investments as Silicon Valley Valuations Rise
Qatar-based Rasmal Ventures is increasingly targeting technology startups in East Asia, Turkey and the GCC, betting that lower valuations and strong technical talent can deliver better returns than highly competitive Silicon Valley deals.
Qatar-based venture capital firm Rasmal Ventures is increasingly looking to East Asia, Turkey and the GCC for technology investments, as it seeks high-quality startups at valuations below those typically found in Silicon Valley.
Soumaya Ben Beya Dridje, Partner at Rasmal Ventures, said the firm’s investment scouting has highlighted particularly strong technology coming from East Asia and exceptional entrepreneurial talent emerging from Turkey.
“When we started scouting, we quickly noticed the best tech is coming from East Asia, and really exceptional talent is also coming from Turkey,” Dridje said in an interview with AGBI.
Founded in Doha three years ago as Qatar’s first independent venture capital firm, Rasmal Ventures invests across sectors and geographies, with a particular focus on technology companies that have the potential to scale across Gulf markets.
The firm is backed by Qatar Investment Authority (QIA) alongside institutional investors, family offices and high-net-worth individuals, and had previously set a target of reaching $100 million in investment commitments.
Lower Valuations Create Opportunities Beyond Silicon Valley
While Dridje continues to view the United States as a global innovation leader, she argued that intense competition and high valuations make attractive Silicon Valley deals increasingly difficult to access for investors without deep local networks.
That dynamic has strengthened Rasmal Ventures’ interest in other technology ecosystems where the firm believes comparable technical quality can be accessed at more attractive valuations.
“Today I can get the same excellency of the tech elsewhere at a lower valuation, bring value to the companies and get them to exit at a global level,” Dridje said. “The maths is clear.”
Rasmal Ventures has completed seven investments to date, including Roamless, a Turkish-led, US-headquartered travel connectivity company providing virtual mobile SIM services, and Hong Kong-based warehousing software company Nexx.
Roamless currently serves more than one million travellers across over 200 countries, according to Dridje. Its globally distributed customer base also means revenues are generated in hard currencies, reducing its exposure to volatility in the Turkish lira.
Dridje described this as an example of the profile Rasmal seeks: companies that may originate from emerging technology ecosystems but are capable of generating globally diversified revenue.
The VC is also exploring opportunities in Qatar, South Korea and other GCC markets.
East Asian Startups Look Toward the Gulf
Rasmal Ventures sees the Gulf not only as a source of capital but also as a potential scaling market for international technology companies.
According to Dridje, interest from East Asian technology businesses in expanding into the GCC has increased substantially during the past two years. Turkey, meanwhile, offers both geographical and cultural proximity that has historically supported commercial relationships with Gulf markets.
Rasmal positions itself as a hands-on investor, providing portfolio companies with practical support to establish and grow their operations across GCC markets rather than operating solely as a financial backer.
Despite wider geopolitical uncertainty in the region, Dridje said Rasmal’s existing portfolio has not been materially affected, partly because it has avoided sectors such as hospitality that have faced greater disruption.
Fundraising from international investors unfamiliar with the Middle East has, however, become more challenging, with some conversations temporarily paused, while investors with longer experience in the region have remained committed.
Rasmal Ventures Eyes M&A and Global IPO Routes
Dridje remains bullish on the long-term outlook for the GCC startup and technology ecosystem despite the current slowdown in venture funding across MENA.
One of the region’s structural challenges, she said, remains the shortage of growth-stage funding available to companies attempting to move from pre-seed and seed rounds into Series A and Series B financing.
The shortage can limit companies’ ability to reach the scale required for successful exits.
According to Dridje, more than 90% of startup exits in MENA take place through mergers and acquisitions, making M&A expertise particularly important for regional venture investors.
Rasmal Ventures therefore intends to strengthen its capabilities around acquisitions and exits while also supporting portfolio companies capable of pursuing public listings in international markets.
“Some of our companies are targeting IPOs in the US or Hong Kong and we will support them in that, but because the majority is M&As, we want to make sure we’re super well equipped in that specific area,” Dridje said.
The strategy reflects Rasmal Ventures’ broader model: identify technology companies in markets where valuations remain attractive, help them use the GCC as a platform for growth, and ultimately support their path toward global exits through acquisitions or public markets.
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Qatar Airways Becomes World’s First Airline to Bring Starlink to Boeing 787-9, Reaches 150 Connected Widebody Aircraft
Qatar Airways has become the first airline globally to operate Boeing 787-9 aircraft with Starlink, as its high-speed connectivity rollout reaches 150 widebody aircraft and more than 23 million passengers.
Qatar Airways has become the first airline in the world to operate Boeing 787-9 aircraft equipped with Starlink, marking another milestone in the carrier’s rollout of high-speed satellite internet across its global fleet.
The Doha-based airline has also completed Starlink installation across its entire Boeing 787-8 sub-fleet in seven months, bringing the number of Starlink-equipped Qatar Airways widebody aircraft to 150.
The airline said it remains on track to complete installation across its entire Boeing 787 fleet by the end of 2026.
The latest deployment means Qatar Airways now operates Starlink-equipped aircraft across three major widebody families: the Boeing 777, Airbus A350 and Boeing 787.
23 Million Passengers Have Used Starlink
The scale of Qatar Airways’ deployment has grown significantly since the airline introduced Starlink connectivity in October 2024.
More than 23 million passengers have since used the service across over 86,000 Qatar Airways flights, according to the airline.
Starlink internet is provided to passengers free of charge on equipped aircraft and is available from gate to gate.
Connection speeds can reach up to 500 Mbps, enabling passengers to use high-speed internet during flights for activities ranging from messaging and entertainment to working online.
The service is increasingly available across Qatar Airways’ long-haul and ultra-long-haul network, including routes connecting Doha with destinations across the Americas, Australasia, Africa, Asia, Europe and the Middle East.
Starlink Rollout Surpasses 83%
Qatar Airways said its overall Starlink installation programme has now surpassed 83% completion, with as many as 323 Starlink-equipped flights operating every day.
The Boeing 787 milestone follows similarly rapid deployment across two other major parts of the carrier’s fleet.
Qatar Airways completed Starlink installations across its Boeing 777 fleet in nine months, followed by its Airbus A350 fleet in eight months.
It has now completed the 787-8 sub-fleet in seven months while beginning operations with Starlink-equipped Boeing 787-9 aircraft.
The rollout represents one of the airline’s largest passenger-facing digital infrastructure projects, extending high-speed connectivity across an increasing share of its international network.
Bringing High-Speed Connectivity to Long-Haul Travel
Starlink uses a network of low-Earth-orbit satellites to provide broadband internet connectivity, allowing airlines to offer significantly faster onboard connections than many traditional satellite systems.
For Qatar Airways passengers, the deployment is designed to make internet access during long-haul flights closer to the connectivity experience available on the ground.
The ability to connect from gate to gate also means passengers on equipped aircraft can remain online across more of the travel journey rather than waiting until the aircraft reaches cruising altitude.
With speeds reaching 500 Mbps, passengers can use the connection for work, communications and digital entertainment during flights.
Qatar Airways Targets Full Boeing 787 Deployment by End of 2026
The next major milestone will be completing Starlink deployment across the remaining Boeing 787 aircraft.
Qatar Airways expects the process to be completed by the end of 2026, further expanding the number of routes where passengers can access free high-speed internet.
With 150 connected widebody aircraft already in operation and the overall programme more than 83% complete, the airline is moving closer to making Starlink a standard feature across a substantial portion of its long-haul fleet.
The milestone also extends a rollout that has moved rapidly since its October 2024 launch: from the Boeing 777 and Airbus A350 fleets to the Boeing 787, and from an initial onboard connectivity service to one that has already been used by more than 23 million passengers worldwide.
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China’s AG.AL Wins 2026 Esports World Cup, Securing $7M Prize in Presence of Saudi Crown Prince and French President
AG.AL triumphs at the 2026 Esports World Cup, securing $7M and global recognition.
China’s premier esports team, All Gamers Global (AG.AL), has emerged victorious in the 2026 Esports World Cup club championship held in Paris.
This win not only marks a significant achievement for the team but also underscores the growing dominance of Chinese esports on the global stage.
Attended by notable figures such as Saudi Crown Prince Mohammed bin Salman and French President Emmanuel Macron, the event was a landmark as the first-ever tournament staged outside Saudi Arabia.
AG.AL clinched the championship by a comfortable margin, with a total of 5,300 points, finishing 700 points ahead of their closest rivals, Saudi Arabia’s Falcons.
This exceptional performance earned them the grand prize of $7 million from a prize pool exceeding $75 million.
The pivotal moment came during the final days of the competition when French player Gwen secured victory in the TrackMania tournament, solidifying AG.AL’s lead.
Meanwhile, the Falcons, who were the reigning champions with two previous titles, finished as runners-up. Despite not retaining the club championship, they claimed an individual victory in Rocket League, defeating Spacestation Gaming with an impressive 4-0 in the final.
The event, spanning seven weeks, highlighted the expansive reach of esports, drawing more than 2,000 players from approximately 200 clubs worldwide, and welcoming over 500,000 visitors to the tournament.
With 25 tournaments across 24 games, the Paris edition demonstrated the vast appeal and growing popularity of esports competitions.
In addition to the competitive spectacle, the event also saw strategic developments in esports diplomacy. A memorandum of understanding was signed between the sports ministries of Saudi Arabia and France, aimed at enhancing collaboration in areas like esports organization, investment, and sports tourism.
This agreement signifies a deeper investment in the esports sector, promising potential growth and increased cooperation on international events.
AG.AL’s triumph in Paris not only reinforces their status as frontrunners in esports but also positions them well for future endeavors as they look to expand their influence and engage further with the global gaming community.
News
Saudi Aramco’s Venture Arm Co-Leads $20M Round in US AI Startup Twin1 AI, Building Digital Twins That Learn From Employees’ Emails, Meetings and Workplace Systems
Twin1 AI secures funding to enhance AI-powered tools for knowledge workers, emphasizing control and privacy.
Twin1 AI, a US-based enterprise AI startup, has successfully raised $20 million in a seed funding round. The investment was co-led by Bessemer Venture Partners, Tribeca Venture Partners, and Aramco Ventures.
This funding aims to propel the development of Twin1 AI’s innovative AI-powered digital twin technology, designed for professional knowledge workers.
Founded in 2025 by Dr. Lewis Z. Liu, Tom Cahn, Huiting Liu, and Dr. Jonathan Budd, Twin1 AI is rapidly positioning itself at the forefront of the enterprise AI sector. Its groundbreaking platform creates digital twins for professionals, incorporating a wealth of contextual data from their work environments such as emails, meetings, and workplace systems.
This empowers AI agents to access and process information more effectively across various platforms like Slack, Microsoft Teams, Outlook, Gmail, Google Drive, and SharePoint.
An important differentiator for Twin1 AI is its focus on data privacy and governance. The company’s technology includes robust privacy controls to manage how information is accessed and shared.
This ensures professionals retain control over their data. Furthermore, Twin1 AI’s Twin Network facilitates seamless coordination by connecting individual digital twins, allowing them to collaborate and share knowledge within large organizations without compromising data integrity.
To meet the growing demand for their solutions, Twin1 AI plans to enhance its workforce in San Mateo and London. The newly acquired capital will also support efforts to refine the company’s core technology and drive its go-to-market strategies.
The interest from major investors like Aramco Ventures underscores a significant trend in enterprise AI. Companies are increasingly seeking systems that capitalize on proprietary organizational knowledge rather than relying solely on generalized models.
Twin1 AI’s approach offers a coordinated and trusted layer of AI interaction within an organization, ensuring that the deployment of AI technology complements business objectives while maintaining governance standards.
This funding highlights the pivotal shift toward enterprise AI systems that prioritize context and organizational knowledge. As AI continues to integrate into business operations, platforms like Twin1 AI are positioned to become essential components of enterprise AI infrastructure.
This shift mirrors the growing necessity for governance and efficient deployment solutions, making Twin1 AI an attractive partner for sectors such as legal, financial services, and energy where data confidentiality and access are particularly critical.
Twin1 AI’s ongoing expansion efforts reflect the industry’s broader trend towards adopting sophisticated AI systems.
By focusing on refining digital twin technology, Twin1 AI is poised to facilitate the practical application of these advanced concepts in large-scale enterprise environments, further supporting the evolution of enterprise AI.
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