Morocco's Royal Investment in AI Innovation
In a significant move for the Moroccan tech landscape, Al Mada Ventures, the venture capital division of Al Mada—an investment holding controlled by the Moroccan royal family—has successfully led a $12 million Series A funding round for Journify, an innovative startup specializing in advertising data solutions. This funding round, announced on November 3, 2026, marks a substantial increase in Journify's valuation, which has quadrupled since its previous funding phase.
Returning investor Silicon Badia co-led the investment, which saw the participation of various stakeholders including Shorooq and Bunat Ventures, who increased their stakes, alongside new investors Du Ventures and Oraseya Capital. The infusion of capital is poised to drive Journify's expansion into lucrative markets such as the United States and Europe, while simultaneously enhancing the artificial intelligence capabilities of its platform.
Founded in 2022 by a trio of entrepreneurs—Taoufik El Jamali, Amine Chouki, and Omar Al Shoubaki—Journify has established its headquarters in San Francisco with additional offices in Dubai and Riyadh. The startup's platform leverages customer data to optimize online advertising by sending critical sales information to major platforms like Google, Meta, TikTok, Snap, and Amazon Ads, enabling more precise ad targeting. Over 100 businesses currently utilize Journify's services, collectively accounting for substantial annual advertising expenditures, exemplified by Saudi retailer Jarir Bookstore's remarkable 182% increase in return on ad spending after adopting the platform.
El Jamali, Journify's co-founder and CEO, emphasized the transformative impact of AI in the advertising sector, remarking, "AI is transforming advertising, but the intelligence behind it is only as good as the signals it receives." Omar Laalej, managing director of Al Mada Ventures, expressed enthusiasm for Journify's commitment to a privacy-first approach, which aligns with the evolving demands of the digital advertising space.
The growth trajectory of Journify is evident, as highlighted by Hossam Shafick, a partner at Silicon Badia, who noted that the company's valuation has increased over four times and its revenues have surged more than fivefold since their initial investment in February 2025. This showcases the robust market potential and operational effectiveness of Journify's innovative solutions.
Al Mada's establishment of Al Mada Ventures aims to create a sustainable investment ecosystem within Africa, with an initial fund of approximately 1.1 billion dirhams (around $110 million) sourced entirely from African capital. The venture firm strategically invests between $500,000 to $1 million at the seed stage and $2 million to $6 million in Series A and B rounds, targeting a diverse portfolio of around 20 companies. Al Mada itself, based in Casablanca, stands as one of Africa's largest private investment groups, holding influential stakes in major Moroccan companies such as Attijariwafa Bank and telecom giant Inwi, while actively investing across 27 countries, predominantly within Africa.
This latest investment not only underscores the royal holding's commitment to fostering innovation within Morocco but also positions it strategically within the global advertising market, particularly as Journify prepares to tap into the U.S. market, which generated $294.6 billion in digital ad revenue last year. The collaboration signifies a pivotal step in merging Moroccan entrepreneurial spirit with the expanding global tech landscape.
As reported by billionaires.africa.
