Syrian super app Labby has raised $10mn from a consortium of investors in the United Arab Emirates and Saudi Arabia, in what officials called the first direct foreign investment in a Syrian technology startup, according to a statement from Syria's Ministry of Communications and Information Technology on July 22.

The investment was announced at a signing ceremony in Damascus attended by minister Abdul Salam Haykal, alongside the company's founders, investors and entrepreneurs.

Labby, founded in 2024, operates a single platform combining ride-hailing, food delivery, e-commerce, digital payments and other on-demand services for users across Syria. The application will initially focus on transport and delivery before expanding into further digital services.

The company said the funding would go towards accelerating product development, broadening its digital services, strengthening its technical infrastructure and expanding across the Syrian market. It is also expected to support hiring and product innovation as the platform scales.

The ministry framed the deal as a milestone for Syria's startup ecosystem, where venture capital activity has been limited for years, and said it was part of wider efforts to build a more supportive regulatory and investment environment for technology firms.

The raise ranks among the largest disclosed technology investments in Syria to date. It follows a record year for startups across the Middle East and North Africa, which drew $7.5bn in 2025.