mCloudTech launches Blockchain, AI sustainability solution in Saudi Arabia

mCloudTech launches Blockchain, AI sustainability solution in Saudi Arabia

United States based, mCloudTech.ai Corp. (“mCloudTech.ai”), a provider of Web3 AI-enabled cloud applications optimizing the performance, reliability, and sustainability of energy-intensive assets has launched its Web3 Blockchain, AI, asset performance management platform on Google Cloud in 2025 in Saudi Arabia to track carbon emissions.

mCloudTech.ai, a MISA registered company in the Kingdom of Saudi Arabia is a key partner to deliver a decentralized experience that will empower the Kingdom of Saudi Arabia to lead the way in effectively reducing carbon emissions by leveraging cloud solutions. mCloud plays a critical role in this vision, delivering exclusive digital sustainability applications built on Google Cloud.

This announcement marks a turning point in decarbonization efforts, positioning Saudi Arabia, mCloudTech.ai, and Google Cloud as leaders at the intersection of technology and sustainability.

AssetCare will integrate Web3 with blockchain and AI capabilities from Google Cloud to deliver a unified platform for carbon emissions tracking and digital measurement, reporting, and verification (DMRV). The solution enables full lifecycle management for carbon credits, from issuance to trading to retirement, ensuring transparency and accountability in decarbonization efforts. These innovations position AssetCare as the platform of choice for organizations on the path to net zero through asset performance optimization.

AssetCare’s Web3 capabilities will debut in Saudi Arabia, leveraging the Kingdom’s robust hyperscale infrastructure, data sovereign policies, and advanced AI ecosystem enabled by Google Cloud. Saudi Arabia, one of the largest global energy markets, provides an ideal launchpad for decarbonization and carbon trading activities. mCloudTech.ai and Google Cloud plan to expand globally, targeting energy-intensive economies with state-owned or national energy companies.

Russ McMeekin, mCloudTech.ai Co-Founder, President, and CEO said, “With mCloudTech.ai’s inception and our partnership with Google Cloud in the Kingdom of Saudi Arabia, AssetCare’s Web3 capabilities will be an excellent showcase of the Kingdom’s digital leadership. Saudi Arabia’s hyperscale compute, data sovereignty policies, and advanced AI capabilities enabled by Google Cloud underscore the Kingdom’s pivotal role in driving digital sustainability around the world. We are honored to contribute to Saudi Arabia’s success alongside organizations such as Aramco and their sustainability ambitions with the unparalleled capabilities of Google Cloud’s AI, LLM, and blockchain capabilities.”

Bader Almadi, Google Cloud Country Manager for Saudi Arabia added, “Today, mCloud provides valuable services that help global customers across industries improve their sustainability and streamline their operations. Now, these new capabilities in mCloud’s AssetCare platform, built on Google Cloud, can help customers even further track carbon emissions, streamline reporting, and manage carbon credits.”

In January 2025, mCloudTech signed a Memorandum of Understanding (“MOU”) with Aramco. The MOU sees mCloud joining forces with Aramco to explore the co-development of a digital technology hub for delivering ESG solutions in the Kingdom of Saudi Arabia.

  • AI
  • 0
  • Closed
  • 6 min read

UAE and Qatar VCs invest in securitization AI entity, Teamsec

UAE and Qatar VCs invest in securitization AI entity, Teamsec

Deniz Ventures, the venture capital fund of DenizBank, established under the Emirates NBD Innovation Fund—the Corporate Venture Capital arm of Emirates NBD Group—and Qatar based Rasmal Ventures, a venture capital firm, have invested in Turkish based TeamSec, an a AI-powered securitization platform, transforming the structured finance industry through its innovative Securitization-as-a-Service platform.

Securitization is the process in which certain types of assets are pooled so that they can be repackaged into interest-bearing securities.

With a total investment raise of 7.6 million USD, TeamSec aims to accelerate its growth operations, focusing on rapid expansion in the Middle East and North Africa (MENA) region. The company already has an innovation license in DIFC ( Dubai International Finance Center). Additionally, TeamSec also aims to diversify its product and service portfolio and enhance current service offerings.

TeamSec in Saudi Arabia

In Saudi Arabia, TeamSec has taken a major leap forward by signing a Memorandum of Understanding (MoU) with SIMAH, the Saudi Credit Bureau. This collaboration is a key milestone in enhancing the securitization ecosystem in the Kingdom, enabling us to access critical credit data and analytics required to structure robust securitization solutions.

The partnership with SIMAH will provide data-driven securitization models that meet international standards. By leveraging SIMAH’s extensive credit information database, the company seeks to ensure that their securitization products are built on a foundation of trust, reliability, and precision—qualities that are vital for attracting investors and fostering confidence in the market.

Through its AI and data analytics-based solutions, TeamSec seeks to create critical value for investors and financial institutions.

Commenting on the investment, Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said, “We recognize the immense potential securitization holds in supporting regional growth. Our recent strategic investment in TeamSec, a fintech innovator specializing in Securitization-as-a-Service, underscores our commitment to shaping this market and enabling its growth. We are the first investor in TeamSec, supporting the founder and team in their growth journey at an early stage.”

NEOHUB CEO Gürhan Çam highlighted that TeamSec’s technological infrastructure will lay the groundwork for stronger collaborations among financial institutions in the future and contribute significantly to the financial ecosystem. He stated: “Digital transformation in the fintech sector is no longer a luxury but a necessity. As DenizBank and NEOHUB, we aim to address the technological gaps in the field of securitization by collaborating with startups through our investment in TeamSec. We recognize that TeamSec’s innovations in securitization have the potential to set new industry standards.”

Emphasizing the collaborative approach, Rasmal Ventures’ Co-Managing Partner, Alexander Wiedmer, noted: “TeamSec’s bold vision to revolutionize the securitization industry across the Middle East and beyond resonates strongly with us. Their mission-driven, execution-focused team exemplifies the kind of ambition and innovation we are excited to support. Our investment, alongside Deniz Ventures, reflects our commitment to advance fintech solutions that redefine traditional financial processes. By backing teams like TeamSec, with deep expertise in their field, we aim to accelerate digital transformation and fortify the regional financial ecosystem.”

Emphasizing the role Emirates NBD’s Corporate Venture Capital arm played in driving this investment, Neeraj Makin, Group Head of Strategy, Analytics, and Venture Capital at Emirates NBD, added, “Emirates NBD’s Innovation Fund drives strategic investments in cutting-edge fintech startups like TeamSec, enabling us to deliver tailored solutions that align with our vision of being the most innovative bank for our customers. As the industry evolves, the fund ensures we stay ahead of disruptive trends while enhancing the digital experience for our clients.”

Esad Erkam Köroğlu, Founder and CEO of TeamSec, highlighted that this strategic investment from Deniz Ventures combined with the VC mindset and experience of the Rasmal Ventures’ team, is a key enabler in achieving the company’s vision: “The investment we received from ENBD and Rasmal Ventures demonstrates the trust placed in TeamSec’s vision and technological prowess by these renowned institutions. At the same time, this investment round supports our mission to revolutionize the securitization market, positioning TeamSec as a leader in the fintech sector as well as in the securitization market, particularly in the MENA region. With this investment, we endeavor to strengthen our position as a global game-changer in the field of securitization.”

Qatar based Rasmal Ventures, the first independent venture capital company within QFC authority, licensed to manage exempt funds domiciled in QFC, launched its Rasmal $100 million Fund I in 2023. The Fund was supported by key Qatari private investors and institutions.

stc Bahrain partners with Nirvana Labs for Web3 Blockchain development

stc Bahrain partners with Nirvana Labs for Web3 Blockchain development

stc Bahrain, has partnered with Nirvana Labs, leading providers of bare metal cloud infrastructure for web3 companies to foster the growth and development of blockchain technologies across the Gulf region. The partnership is now live, with Nirvana offering web3 hosting for node operations in stc Bahrain’s data centre

As per the press release, the partnership will bring Nirvana’s purpose-built web3 cloud infrastructure to Bahrain, extending its web3 hosting capabilities to stc Bahrain’s data centers servicing the MENA region. This partnership not only broadens Nirvana and stc Bahrain’s infrastructure offerings but firmly supports a network distinguished for its focus on performance, scalability, and security.

“We are excited to partner with Nirvana Labs to bring advanced web3 cloud infrastructure to stc Bahrain’s data centres” said Saad Odeh, Chief Wholesale Officer at stc Bahrain. “This collaboration is a further testament to our commitment to positioning Bahrain as a leading hub for technological innovation in the Middle East, in line with the Vision 2030 goals. By providing advanced web3 cloud hosting infrastructure, we are enabling local and regional companies to harness the power of decentralized technologies, drive innovation, and compete on a global scale.”

Additionally, Avalanche will the first protocol to leverage this partnership by deploying validator and RPC nodes on Nirvana Labs’ web3 cloud hosting infrastructure at stc Bahrain’s data centres, strengthening its blockchain network.

“We are excited to further our work with Nirvana Labs and stc Bahrain as they launch an advanced web3 hosting solution in the Middle East,” said Khalid Dannish, Head of MENA at Ava Labs. “The Avalanche ecosystem continues to prove itself as an ideal platform on which to drive real-world blockchain adoption, including incorporating web3 cloud hosting solutions to data centres.”

This is not the first web3-focused initiative from stc Bahrain. It recently announced a separate partnership with Avalanche as part of its Web3 Launchpad Program, which aims to accelerate the adoption of blockchain technology in the Middle East. Additional web3 firms that are part of the stc Bahrain launchpad program.

For Nirvana Labs, the strategic partnership marks a significant milestone in its mission to promote web3 specific cloud infrastructure. With the addition of Bahrain, Nirvana Labs will maintain global hubs for its proprietary web3 cloud platform, purpose-built to improve performance for blockchain applications requiring high-throughput and low latency, and reducing the industry’s reliance on traditional cloud providers like Amazon Web Services (AWS) and Google Cloud Provider (GCP).

“We are thrilled to partner with stc Bahrain to bring our cutting-edge web3 cloud infrastructure to the Middle East,” said Dan Burke, CEO of Nirvana Labs. “This strategic move aligns with our mission to decentralize cloud services and support the growing blockchain ecosystem in this dynamic region.”

By establishing a presence in Bahrain, Nirvana Labs secures a foothold in a key regional hub for technology and innovation, paving the way for expansion and collaboration across the Middle East. Strategically located at the crossroads of Europe, Asia, and Africa, Bahrain provides access to emerging markets with a rapidly growing interest in blockchain and web3 technologies.

Last week stc Bahrain partnered with Allora Network, an AI decentralized network through its Web3 Launchpad Program under the Pearling Path initiative.

Saudi cloud provider Virtual Vision introduces Blockchain as a service

Saudi cloud provider Virtual Vision introduces Blockchain as a service

 Saudi Arabian cloud provider, Virtual Vision (V2), has expanded its service portfolio with the introduction of Blockchain-as-a-Service (BlaaS) provided by CloudSigma and Red Date Technology.

Tailored for the Saudi business landscape, this initiative will solidify V2’s leadership in public cloud services and equip regional enterprises with innovative blockchain solutions. With a surge of interest from businesses in adopting blockchain technology, the technical complexities and high costs involved in configuring, operating, and managing a blockchain infrastructure can often act as barriers.

V2’s BlaaS streamlines the process, allowing businesses to easily create, manage, and operate blockchain applications in its cloud environment. BlaaS simplifies the adoption of blockchain, making it a usable and affordable tool for businesses.

This collaboration follows the successful enablement of the Blockchain-as-a-Service capability powered by Red Date Technology’s RDCloud Software platform into the V2 Cloud in Saudi Arabia.

As the first local BlaaS provider in Saudi Arabia, V2’s BlaaS offering is uniquely positioned to revolutionize the region’s digital and economic landscape, empowering dramatic cost reductions—up to 89% in development, 66% in training, and 45% in overall operational expenses—making it a cost-effective solution for businesses of all sizes.

Moreover, V2 stands out in the Saudi market with its strong local presence, which ensures compliance with national regulations and offers customer service tailored to the local business environment, which is further enhanced by V2’s connection to major Saudi telecom providers, ensuring high-speed and secure data transmission across the network.

Hazem Sandouka​, COO at Virtual Vision​, noted, “We are thrilled to announce the launch of the Blockchain as a Service (BlaaS) on our cloud platform, a pioneering initiative specifically tailored for Saudi Arabia. This strategic expansion is not just about technology adoption, it’s about seamlessly integrating blockchain into the heart of digital transformation efforts across the kingdom. By offering this service, we aim to empower organizations in Saudi Arabia to meet their unique needs with sovereign cloud solutions, ensuring that data sovereignty and security are at the forefront. Our commitment is to provide a robust infrastructure that enhances transparency, efficiency, and trust, aligning with Saudi Arabia’s visionary goals for a digital-first future.”

Tim Bailey​, VP of Global Business & Operations at Red Date Technology​ added, “The Middle East is a strategically important region for our global expansion, and we are proud to partner with Virtual Vision and CloudSigma to deliver innovative decentralized solutions to customers in Saudi Arabia. We believe that our partnership with both technology leaders will enable us to continue to expand our global footprint, deliver even greater value to our customers, and help drive innovation in the blockchain industry.”

This collaboration combines the technical strength and commercial expertise of three industry leaders in their respective business segments. Together, Virtual Vision, CloudSigma, and Red Date Technology are set to reshape the digital frontier in Saudi Arabia, offering businesses and institutions the transformative power of blockchain that will enable innovative applications.

Blockchain and AI IO Research secures $30 million valuating it at $1 billion

Blockchain and AI IO Research secures $30 million valuating it at $1 billion

IO research, a, blockchain and AI startup, founded and headed by Ahmad Al Shadid, has raised $30 million in a series A funding, valuating the company at $1 billion.

IO research, the creators of Depin, is a Solana based decentralized AI compute cloud. IO Research launched DEPIN in November 2023. At the time this was considered as an opportunity for cryptocurrency miners in possession of underutilized GPUs, as well as clients requiring a scalable and affordable computing solution amid rising costs.

In November, Founder and CEO Ahmad Shadid has noted, “This is a monumental moment for io.net and the entire decentralized computing community. We are not simply launching a platform; we are pioneering a global movement towards optimal utilization of computational resources. Our vision has always been to bridge the gap between underutilized resources and rising computational demands facing AI and ML engineers, not to mention crypto miners. I believe we can make a significant contribution to the AI revolution over the coming months and years.”

With deployment speeds of less than 90 seconds, io.net will enable ML and AI engineers to deploy massive enterprise-level clusters to power models for training and inference. io.net is said to be up to 90% more cost-effective than traditional GPU providers such as AWS and Azure.

Few months later, March 2024, IO.net, DEPIN has received $30 million in funding spearheaded by Hack VC in collaboration with several angel investors including Multicoin Capital, 6th Man Ventures, Solana Ventures, OKX Ventures, Aptos Labs, Delphi Digital, The Sandbox, Sebastian Borget of the Sandbox, and others.

In addition, there was investment from Matty Taylor, Ian Krotinsky (founder of Tiplink), MH Ventures, Amber Group, Arkstream, Modular, Continue Capital, Foresight, Longhash, SevenX, and Delphi Digital.

According to sources familiar with the Series A funding, the funds were raised in tranches coupled with the fact that it is structured as a simple agreement for future equity (SAFE), with token warrants in a 1:1 ratio. The first tranche happened in January but it was not until recently that the final one was completed.

The CEO and founder of io.net Ahmad Shadid, explained the terms of the investment, stating that investors have a minimum one-year lock-in period for tokens.

This $30 million fund will help the Artificial Intelligence (AI) protocol enhance the aggregation of blockchain distributed GPUs.

Could Qatar be creating a cloud based blockchain platform to accelerate its Blockchain blueprint strategy?

Could Qatar be creating a cloud based blockchain platform to accelerate its Blockchain blueprint strategy?

Dr Mohamed Abdallah and Dr Aiman Erbad, Associate Professors at  Qatar’s HBKU College of Science and Engineering published an article on how Qatar’s Blockchain blueprint will boost the adoption of blockchain and their recommendations for accelerating the growth. They proposed hosting a high-performance cloud based blockchain platform to accelerate prototyping and testing or creating a physically distributed blockchain network among different institutions, including ministries and universities, which can serve as a test bed that can also host actual blockchain applications, among other recommendations.

The College of Science and Engineering at Hamad Bin Khalifa University (HBKU), as well as the College of Engineering at Qatar University (QU), and the Communications and Regulatory Authority jointly developed the National Blockchain Blueprint, aimed at defining the requirements and incentives necessary for the adoption of blockchain technology in Qatar.

As per the article, the blueprint has several goals, including facilitating the emergence of startups and new companies, identifying successful methods through pilot projects, promoting creativity and innovation, and upgrading infrastructure to enable a conducive environment for blockchain technology.

The authors also discuss various recommendations that could be incorporated within the Blockchain blueprint.

One of the key recommendations of the blueprint is to encourage the development of pilot projects in priority sectors such as Fintech, Energy, and Health.

The Blockchain blueprint also wants to provide an adequate incubation environment for promising blockchain startups. The authors recommend creating a new consortium-based funding organization that involves all stakeholders to promote blockchain-based startups and businesses.

To facilitate the deployment and testing of new blockchain applications, The authors also recommend hosting a high-performance cloud-based blockchain platform to accelerate prototyping and testing.

The final recommendation is to create a physically distributed blockchain network among different institutions, including ministries and universities, which can serve as a test bed that can host actual blockchain applications. By having a distributed network, blockchain-based solutions can be tested in a real-world environment, and the risks and potential opportunities can be identified.

Qatar has been moving forward with its blockchain initiatives and the Qatar Financial Centre Authority has been at the forefront of integrating blockchain, DLT, digital assets into the financial market. More recently they even discussed digital assets for Islamic Finance and signed an MOU with Malaysian Labuan IBFC well known for its Islamic finance products.

Finally and most recently Qatar Financial Authority were in discussions with Qatar Development Bank to discuss the need for digitization of products and services in digital assets, kYC, SMEFinance and the metaverse. 

It would seem that the Qatar Blockchain blueprint is moving forward in great strides. 

UAE Blockchain firm partners with Cloud based AI gaming entity the Game Company for esports

UAE Blockchain firm partners with Cloud based AI gaming entity the Game Company for esports

UAE Blockchain firm, O1X, and cloud based AI gaming entity, The Game Company has partnered to create a decentralized economy within the Game Company’s cloud-based AI platform, transforming the way users are rewarded for their active participation and engagement on the platform.

The collaboration brings forth player-driven curation for esports tournaments, restructuring the competitive gaming industry. Players take an active role in creating the gaming experience when they have the ability to design and manage tournaments.

According to the news,this taps into a booming business, taking advantage of the enormous expansion of the global esports market, which is projected to reach USD 6.75 billion by 2030. Through the decentralized nature of the platform, tournament hosts can establish their own rules, formats, and reward structures, creating a dynamic and diverse competitive environment.

Osman Masud, CEO of The Game Company, shared his excitement, stating, “Our collaboration with 01X is a turning point for the esports sector. By integrating blockchain and decentralized economies, we are putting the power back into the hands of esports players. They can now create competitions, take control of their gaming experiences, and alter the competitive landscape. We’re dedicated to building a player-centric ecosystem where their voices are heard, and their contributions are celebrated.”

Joachim Godet, Managing Director of 01X, added,  “Our collaboration with The Game Company signifies a pivotal moment in the gaming industry. By merging our expertise in blockchain and game economics, we’re paving the way for a future where players have unprecedented control over their gaming experiences and reap tangible rewards for their engagement.”