Abu Dhabi - Sharikat Mubasher: UAE telecom company e& participated in the second tranche of a $10 million funding round for MagicCube, a software-based security platform for payments, identity, and digital assets, through its investment arm e& Capital.
This strategic investment underscores the position of the Gulf region as a major hub for AI infrastructure and digital innovation, according to the official statement.
The round’s first close included payments technology company Verifone as a strategic investor, alongside existing backers Bold Capital Partners and Mosaik Partners.
Eddy Farhat, Executive Director of Corporate Ventures at e& Capital, emphasized that the investment reflects e& Capital’s focus on backing technologies that strengthen trusted digital infrastructure and open new opportunities across high-growth markets.
For his part, Sam Shawki, CEO and Co-Founder at MagicCube, commented: “Following Verifone’s support, and at a time when the Gulf is shaping the future of AI and digital infrastructure, having e& in our corner is both a powerful endorsement and a strategic signal. Together with e&, we are building secure identity and AI rails not tied to any single hyperscaler, hardware vendor, or jurisdiction.”
MagicCube’s Software Defined Trust platform secures payments, digital identities, and AI-driven services across smartphones, tablets, vehicles, self-checkout kiosks, and IoT devices without reliance on hardware security components.
The platform is designed to operate across clouds, devices, and jurisdictions, giving governments, banks, and enterprises control over how and where their critical data and AI models are protected.
