Saudi Arabia has been named the fastest-growing startup ecosystem in the world in the 2025 StartupBlink Global Startup Ecosystem Index, with a growth rate exceeding 200%—the only country in the global top 100 to achieve this milestone. This surge has earned the Kingdom the “Country of the Year” title, highlighting its transformation into a global innovation leader.

The report ranks 110 countries and 1,400 cities, with three Saudi cities—led by Riyadh—making the global top 1,000. Riyadh entered the world’s top 100 startup cities, posting a 134% growth rate, and solidifying its role as a regional tech hub.

Saudi Arabia now leads globally in HealthTech, nanotechnology, and transport tech, and ranks among the top in sectors like fintech, e-commerce, logistics, and gaming. The Kingdom’s rapid progress is fueled by Vision 2030, robust government support, and record venture capital investment, making it the most funded VC market in MENA.

Startups such as Tabby, Tamara, and Jahez exemplify this momentum, as Saudi Arabia emerges as a top destination for innovation and entrepreneurship.

The Supreme Court of India has granted interim relief to Paytm’s gaming arm, First Games, by staying proceedings on a ₹5,712 crore GST notice issued by the Directorate General of GST Intelligence (DGGI). The notice, sent in April 2025, demanded GST for the period January 2018 to March 2023, based on the department’s view that 28% GST should be levied on the total entry amount, rather than the 18% GST currently paid on platform fees.

First Games challenged the notice in the Supreme Court, which on May 23, 2025, ordered a stay on all further proceedings until a final decision is reached. The dispute is part of a broader industry-wide debate over the correct GST treatment for real money gaming platforms, with similar cases pending before the court. Following the stay, Paytm shares rose nearly 2% in early trading, reflecting investor optimism.

The Supreme Court’s order provides temporary relief to First Games and signals ongoing judicial scrutiny of GST demands across India’s online gaming sector.

Former 100X.VC partners Yagnesh Sanghrajka and Shashank Randev have launched a new venture capital firm, 247VC, unveiling a maiden fund with a target corpus of INR 250 crore (about $30 million). The SEBI-registered Category II AIF includes a base of INR 200 crore and a INR 50 crore greenshoe option, and is focused on backing 30 seed-stage startups across India over the next three years.

247VC will target high-potential founders in sectors like deeptech, enterprise tech, consumption, and Industry 5.0, with initial cheque sizes ranging from INR 3 crore to INR 4 crore and follow-on capital for top-performing companies. The fund has attracted prominent early backers, including Sachin Tagra (JSW Ventures), Vivek Mathur (ex-Elevation Capital), and Shailendra Majmundar (Johns Hopkins University).

Sanghrajka and Randev, who together have invested in over 200 startups previously, aim to support ambitious founders building for scale and innovation, especially in emerging and underexplored markets. The launch comes as seed-stage investing gains momentum in India, with average cheque sizes rising despite a cautious funding environment.