Oraseya Capital, the enterprise capital funding arm of the Dubai Built-in Financial Zones Authority (DIEZ), introduced over $1 million in investments, unfold over seven know-how startups.
The investments, introduced on the conclusion of the fourth accelerator programme by SANDBOX, envisage every startup receiving $150,000 (AED 570,000).
The seven startups that acquired funding embrace Qureos, a recruitment tech startup, Herogo, the sustainable meals tech subscription platform for fruit and greens, Lisan, a deeptech generative AI startup specialising in Arabic linguistics, Sthrive, a B2B SaaS platform for retailers designed to spice up gross sales and worker efficiency and Zoya, a fintech startup that makes halal investing straightforward and accessible for Muslims worldwide.
JobEscape, a productiveness startup upskilling freelancers and staff alike with AI instruments, and Opteam, leveraging AI-driven optimisations to mission administration within the building sector, are the opposite ventures which acquired funding.
“We’re happy with the milestones that Oraseya Capital has achieved in startup investments inside only a few months of its launch in the long run of 2023,” mentioned Hassan Waheed, Vice President of Company Finance and Treasury at DIEZ and Companion at Oraseya Capital.
“The excessive stage of curiosity in its SANDBOX programme, in addition to the numerous progressive and inventive concepts and bold initiatives, mirror the long-term significance of this strategic initiative in selling the expansion of small and medium-sized enterprises in varied sectors,” he mentioned.
Waheed mentioned the enterprise capital has invested in startups which have confirmed excessive progress alternatives, characterised by artistic concepts and progressive visions.
He mentioned that along with these new investments, Oraseya Capital has strengthened its efforts by main an funding spherical in Growdash, a Dubai-based SaaS platform that focuses on empowering the advertising and marketing and operations efforts of eating places.
Oraseya Capital has additionally participated in a sequence of funding rounds for a number of different startups, together with RemotePass, an HR tech-platform streamlining administration of distant groups, and iSchool, an EdTech upskilling youth with digital capabilities.
SANDBOX is a 5-month accelerator programme spanning 2 phases.
Startups taking part within the programme profit from greater than 50 hours of workshops that embrace entry to an built-in package deal of economic analytics, advertising and marketing methods and authorized compliance packages.
Entrepreneurs within the SANDBOX programme additionally obtain greater than 30 hours of mentoring from trade specialists and have the chance to community with regional buyers.
The fifth version of SANDBOX, which has already acquired greater than 1,100 purposes, will begin originally of September 2024.
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