OneMena, a China-based mobile internet company, has recently raised a Series A financing round led by IDG Capital and Kuaishou, the latter is one of China's largest short-form video streaming platforms.
Prior to this round, the company had completed a Seed round where it got funding from Sequoia Capital. Together, both rounds have secured $20 million for OneMena.
Founded in 2017, OneMena provides software development services targeting the Arabic mobile internet market in the MENA region with mobile applications including Hayaa, KooraCafa, Anawin, TeflyLife, and Funcy.
“We are planning and working on new projects for the MENA region, and our main target is to develop different products for male and female users; and our application ‘Hayaa’, the top health app in the MENA, is our first step,” Shahala Xiao, public relation supervisor in OneMena, told Wamda.
Although it only tapped the region a year ago, OneMena has already managed to attract ten million registered users, with approximately five million customers using its products every month. The company addresses the scarcity of both content and entertainment in the MENA region.
According to Xiao, both content and entertainment have turned into the next internet hotspot within the MENA region. She believes that even though local Arab companies — due to their more intimate familiarity with the culture — tend to be more competitive than Chinese firms in terms of producing entertainment content, the Chinese internet companies still have a lot of advantages in tech development and operating models. And to familiarize itself more with the regional culture, OneMena has set up teams in Saudi Arabia and Egypt and hired several local talents who will help improve the quality of the company’s content and entertainment services.