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- Web Summit Qatar Day 1; Kitopi Bags More Millions; Wynn in RAK is Picking Up Speed
Web Summit Qatar Day 1; Kitopi Bags More Millions; Wynn in RAK is Picking Up Speed
Monday, February 2, 2026
Happy Tuesday everyone!
Web Summit Qatar 2026 welcomed 30,000+ attendees on Day 1 and it was difficult to find walking space (yes, we are here in Doha). A lot happened on Day 1, including a ladder on the mainstage. Scroll down for all the updates.
Meanwhile, UAE-born Kitopi has raised $50 million, and Wynn Al Marjan is taking real shape with work on the bridge to connect it to major highways half-done now.
Also, World Governments Summit kicks off in Dubai. We will keep an eye on it for you!
Markets
EGX 30 | 47,662.74 | 0.26% |
DFMGI | 6,435.36 | Closed |
ADX | 10,281.76 | Closed |
Tadawul | 11,167.48 | 1.89% |
Web Summit Qatar: Who said What on Day 1
Her Highness Sheikha Moza Bint Nasser spoke about re-centering ethics in the age of artificial intelligence, emphasizing the importance of maintaining human values in digital transformation. Eduardo Saverin (Facebook & B Capital co-founder) and Raj Ganguly (B Capital) discussed building the next global growth corridor from MENA to South Asia.
Her Excellency Sheikha Al Mayassa bint Hamad bin Khalifa Al Thani and Michael Govan (LA County Museum of Art) discussed investing in culture, museums, creative industries, and the knowledge economy. Max Klymenko was on the main stage with his career ladder and tried to guess the job/business of his guests.
Hamad Al-Hajri (Snoonu CEO) and Amal Dokhan (500 Global) explored opportunities to the GCC and beyond. Abir El Saghir, Prajakta Koli, and Noel Robinson discussed breaking the platform mold in digital content creation.
Qai Chairman Outlines Qatar’s AI Infrastructure Push And Trust-First Strategy At Web Summit 2026
At Web Summit 2026, Abdulla Hamad Al Misnad, Chairman of Qai, said the AI platform — launched publicly around two months ago after months in stealth development — is Qatar’s national effort to build large-scale artificial intelligence infrastructure and operating systems for domestic and global use. He stressed that Qai, owned by Qatar Investment Authority, is distinct from the sovereign wealth fund itself, acting instead as its delivery arm for AI deployment.
Al Misnad pointed to Qatar’s early work in artificial intelligence, citing research initiatives dating back to 2018–19 and recent government partnerships aimed at accelerating adoption. He said Qai was created to tackle practical challenges in scaling AI, particularly the need for advanced infrastructure and enterprise-ready systems that can support real-world deployment across sectors.
Central to Qai’s strategy, he explained, is what the team calls “Triple S”: security, safety and systems trust. Alongside building specialized AI infrastructure, Qai is developing operating platforms designed to protect data, ensure models behave as intended, and give governments and enterprises confidence in how AI is used — a focus Al Misnad described as critical as the technology’s global footprint rapidly expands.
Web Summit Qatar is hosting 1,600 startups and more than 30,000 attendees in 2026. The summit runs from February 1 to 4, 2026, reinforcing Qatar’s ambition to position itself as a regional technology hub.
Kitopi Secures $50 Million Growth Round Led By Temasek–DBS Platform EvolutionX
What Is It About?
Dubai-based F&B technology group Kitopi has raised $50 million in growth capital, led by EvolutionX, the private credit platform established by Temasek and DBS Bank. The funding follows Kitopi’s move into profitability and will support expansion of its homegrown restaurant brands, franchising strategy, and digital ecosystem across the UAE, Saudi Arabia, Qatar, Bahrain and Kuwait.
Why It Matters?
The deal highlights rising global investor confidence in profitable, tech-enabled consumer platforms emerging from the GCC. It also marks EvolutionX’s first investment in the region, reinforcing the Gulf’s status as a fast-growing innovation hub for scalable businesses and signaling continued inflows of international capital into Middle Eastern food-tech and consumer ventures.
What’s Next?
Kitopi plans to accelerate regional rollouts, grow its loyalty platform, and push into international franchising markets. EvolutionX, meanwhile, is expanding its GCC footprint as part of a broader strategy to back growth-stage companies preparing for pre-IPO phases across sectors ranging from consumer and fintech to healthcare and digital infrastructure.
Wynn Al Marjan Island Bridge Reaches Major Milestone As Resort Development Accelerates Toward 2027 Opening
What Is It About?
Construction of the 548-metre Wynn Bridge in Ras Al Khaimah has reached 48% completion, creating a direct future link between Wynn Al Marjan Island, Dubai and the Northern Emirates via the E311 and E611 highways. The bridge is scheduled for completion in late 2026, while the resort’s 299-metre signature tower, guest accommodations and low-rise structures continue to advance rapidly.
Why It Matters?
The infrastructure milestone highlights the scale and pace of development behind Ras Al Khaimah’s first integrated resort and its ambition to become a global tourism hub. Enhanced road connectivity will be critical for visitor flows, while the project’s size — spanning more than 60 hectares with thousands of rooms, dining venues and leisure facilities — underscores growing investor confidence in the emirate’s hospitality sector.
What’s Next?
Interior fit-outs will intensify across the resort as façade and roofing works progress toward completion. Wynn will also advance pre-opening preparations, including the launch of Oasis: A Wynn Community in Summer 2026 to house staff. With bridge construction due to finish late next year, focus will increasingly shift toward operational readiness ahead of the planned Spring 2027 debut.
🦄 World of Startups
Notion Expands into Middle East with Launch of Arabic Support
Wio Bank Partners with Pine Labs to Revolutionise UAE Payment Processing
Vennre Secures $9.6M to Democratise Wealth-Building in Saudi Arabia
Jeel and Ripple Join Forces to Revolutionise Saudi Payments with Blockchain
AI Integration Gains Momentum in UAE as Firms Reap Early Rewards
Argentum AI Taps Saudi Golf Leader Majed Al Sorour for Global Expansion Drive
SIRBAI and EDGE Forge Strategic UAE Alliance to Elevate Drone Autonomy
👨💻From Smashi Business’ Desk
Binghatti Holding Puts IPO on Hold, Focuses on Expansion with Strong Cash Reserves
Dubai’s Eat App Secures $10M to Expand Global Restaurant Booking Platform, Enters India via Swiggy Partnership
Egypt’s Zeal Raises $4M, Eyes F1 Star Lando Norris as Angel Investor to Boost AI-Powered Retail Platform
Trump Taps Israeli Billionaire Yakir Gabay for Controversial Gaza “Board of Peace”
Damac Founder Hussain Sajwani Sparks Viral Debate at Davos: “There’s No Such Thing as 9 to 5 in Business”
🔍In other news…
Libya Emerges as Top Destination for US Oil Firms Over Venezuela
Saudi Arabia Opens Property Market to Foreign Buyers From $270
Saudi Arabia Targets Wealthy Families in Fresh Capital Drive
Lunate targets doubling of assets under new leadership
🗓️ Plan Your Events (Jan-Feb 2026)
UAE
3-5 February: The World Governments Summit, Dubai.
9-12 February: World Health Expo (WHX), Dubai.
11-12 February: STEP Dubai Conference, Dubai Internet City. (Media Partners)
Saudi Arabia
2-4 February: Saudi Media Forum, Riyadh.
2-4 February: Women Leaders Summit and Awards KSA, Riyadh.
8-12 February: World Defense Show, Riyadh International Convention and Exhibition Center, Riyadh.
Egypt
5-7 February: RiseUp Summit, Cairo. (Media Partners)
11-12 February: Ai Everything Egypt (Organized by GITEX Global), Cairo. (Media Partners)
Qatar
1-4 February: Web Summit Qatar, Doha. (Media Partners)
2-5 February: 21st International Conference & Exhibition on Liquefied Natural Gas (LNG2026)
