The UAE’s starup community will emerge stronger in 2021 as it gets ready to … Over the last few months, we have researched and come across some brilliant and innovative new companies in the Middle East. Visit a place frequently? 80% of the population of the UAE consists of foreigners who are in the country on 3-year visas. H.A.D Consultants is a team of three women — Hala Bou-Alwan, Amrika Bhogaita and Dalia El Kilany — who believe that empowering individuals has a snowball effect, leading to stronger, more resilient teams, businesses, communities and societies as a whole. (File photo) Platform offers SMEs crowd funding and peer to peer finance. The company motto believes that “a buoyant start can make all the difference”. Regional start-ups enjoyed record funding in 2017. The nation displayed a unique ability to tackle challenges — be it global or regional — making it the most vibrant regional player both in terms of deals and funding. UAE's micromobility startup secures $3.8mln funding led by Israeli VC. Fenix scooters. Careem. From the very beginning, it is the strategic use of funds that decides the amount of profits your venture makes in the long run. Tap Payments is hoping for a similar trajectory in MENA. Not only has a much larger subset of customers become used to the convenience of e-commerce, the services on offers have also been enhanced. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. By tracking and analysing startup investments in 19 countries and counting, we have been able to provide real-time intel to governments, founders and investors to support them in making informed decisions and policies,” added Bahoshy. Repeat is … Our tactics is mainly built on 3 key pillars – Expertise, we have lined up to secure and undertake unique … They were placed on your computer when you launched this website. Source: Khaleej Times. CurrentRequestUnmodified: /business/indian-textile-major-raymond-sizes-up-fashion-industry Last year, Pakistan recorded $77 million in 48 deals, and Turkey recorded $383 million in 140 deals. “Covid-19 rapidly accelerated the adoption of technology across emerging markets, creating larger markets and more opportunities to scale. 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The three main innovation hubs — the UAE, Egypt and Saudi Arabia — accounted for 68 per cent of total deals disclosed in 2020. Last year, Pakistan recorded $77 million in 48 deals, and Turkey recorded $383 million in 140 deals. Speaking of the launch and funding for Fenix, IQ Sayed, in a press statement said, “The … Roberto Croci, managing director of Microsoft for Startups MEA, said: “The UAE has all the ingredients to become a vibrant hub for start-ups, underpinned by effective public-private partnerships and fast regulatory decision-making. Get the best prices at the sites you frequent the most. Add to this the inherent advantages e-commerce offers businesses in terms of market penetration, and it’s clear that growth in the sector will only accelerate.”. Agthia Group acquires majority stake in Nabil... UAE takes strides in the switch to natural gas, Dubai announces new Covid safety rules: Full list. The market now has more appetite for mental health services.” — sandhya@khaleejtimes.com, The UAE is Africa’s fourth-largest global investor with an... READ MORE, Abu Dhabi Sustainability Week 2021 consists of a series of high-level ... READ MORE, The acquisition will be another step towards cementing Agthia’s ... READ MORE, Natural gas will play a leading role in national energy strategies... READ MORE, Dubai authorities tighten rules to keep residents, tourists safe from ... READ MORE, Dubai Tourism has put all entertainment activities on hold until... READ MORE, UAE doctors have put his fears to rest, saying: Men looking to have... READ MORE, The scourge has killed over 2 million people worldwide. The news is made all the sweeter by the fact that the announcement has coincided with the peer-to-peer payment app being chosen for Y Combinator’s winter 2021 … Eureeca is the place to find, invest in and support new businesses and ideas. macro_profile: , macro_adspot: ©2021 Galadari Printing and Publishing LLC. Dubai-based home services startup MoveSouq.com has closed a $3m funding round at an undisclosed valuation, it announced on Tuesday. Today, Tap offers bill management, online payments, a payments app and a robust API, supporting the unique payment processing environment that is the Middle East and … UAE startups top in funding, deals led by ecommerce in 2020. Apply. Despite the challenges stemming from Covid-19, e-commerce and fintech, retained top spots by the number of deals, with the two sectors together representing 24 per cent of all deals in 2020. Also, nearly half of all companies registered in Dubai are early stage startups. “This is the second … Business funding Dubai: Banks in the United Arab Emirates [UAE] lend to businesses only with a 3-year track record. Etihad Credit Insurance, TDB sign agreement. By tracking and analysing startup investments in 19 countries and counting, we have been able to provide real-time intel to governments, founders and investors to support them in making informed decisions and policies,” added Bahoshy. 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Startup Funding From A-Z With Marcel Muenster & Global Entrepreneurship Summit Call For Applications Startup Grind Abu Dhabi Welcomes Careem’s Magnus Olsson LinkedIn Makeover with Referbility.com’s Clemens Mielke & LinkedIn Influencer Sohaib Hasan Abu Dhabi’s First Startup Grind & LinkedIn Local Networking Mixer Derek Andersen (Startup Grind + Bevy CEO) Nina Curley (Flat6Labs Abu Dhabi) Majid … Total Funding: $203k. Try to raise fund through Eureeca crowdfunding platform. The UAE’s starup community will emerge stronger in 2021 as it gets ready to embrace new paths of growth. So new businesses must find innovative ways to sustain themselves. We are passionate about entrepreneurs and teams that have taken … The building blocks for a successful start-up. Knowledge should be free, and that’s why we’ve decided to share this list of best startups in the region (Dubai, Abu Dhabi, UAE, Jordan, Qatar, Saudi Arabia, Oman, etc). Ally Salama, CEO, EMPWR, said: “Traction and startup business in mental health means less stigma, and more marketing, education and awareness. UAE-based Fenix, a new micromobility venture focused on the Middle East, has secured a $3.8 million seed … Lessons of 2020 indeed impart a new meaning to resilience as the startup community received a stronger government support in various forms of sops, with Mena startups raising over a record $1 billion of investment in 2020, indicating a 13 per cent increase year-over-year. You can change your cookie settings through your browser. The three main innovation hubs — the UAE, Egypt and Saudi Arabia — accounted for 68 per cent of total deals disclosed in 2020 and once again, the UAE ranked first and accounted for the lion’s share of total funding and the highest number of deals in Mena, representing 56 per cent of all capital deployed across Mena (26 per cent), with 129 deals and $579 million in funding in 2020. Founders. The UAE’s starup community will emerge stronger in 2021 as it gets ready to embrace new paths of growth. A tech startup based in Cairo has just raised a six-figure amount of investment funding to expand its platform to offer digital services to closed communities in the Middle East and North Africa. The company said, that the fresh capital will be deployed towards boosting App4Legal’s growth plans across Asia and Europe. Souq.com received initial seed funding, grew astronomically, ... and investing in UAE startups leveraging the platforms and services offered by the Dubai ecosystem. UAE start-up inks deals to expand online B2B marketplaces into the US, Australia “We are currently raising a funding round which has attracted great interest from multiple investors, both larger Angel investors and also from VCs,” Haisam Jamal, co-founder and CEO of Distichain, told Arabian Business in an exclusive interview. September 23, 2020 September 23, 2020 … 14 Jan. UAE startups top in funding, deals led by ecommerce in 2020. A draft regulation for crowdfunding Crowdfunding in the UAE Read More . Similarly, the amount invested in healthcare startups more than tripled, increasing by +280 per cent to $72 million. 9. “2020 was a rollercoaster year that highlighted the importance of leveraging data to make opportunities visible across borders,” said Philip Bahoshy, Magnitt’s CEO. Portfolio. Handout via Fenix . UAE-based legal-tech software editor, App4Legal, on Monday raised Pre-Series A funding from Betatron, a venture capital fund, and Dubai Angel Investors (DAI). Examples of crowdfunding platforms in the UAE are Beehive, Humming Crowd Realty, Eureeca. This will mean implementing data driven machine learning operations, enhanced omni-channel engagement, and personalised services that leverage customer data effectively,” added Azmi. A15, an entrepreneurial company develops and invests in digital products and tech brands. Top Story . Much of this has been driven by SMEs and Startups, which are often at the forefront of fresh ideas – in many ways they can be considered the lifeblood of the UAE commercial spirit. Crowdfunding is the practice of funding a project by raising money from a large number of people through licensed online platforms. BRINGING CAPITAL AND EXPERTISE TO ENTREPRENEURS. The Mohammed Bin Rashid Fund (MBRF), which is the financial arm of Dubai SME, and … Stripe has quickly grown into one of the most valuable startups of all time (latest valuation: $20B). Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Saudi Arabia saw dramatic growth, up 55 percent with $152 million of funding, with the biggest increase in the number of deals across the region, up by 35 percent. The UAE's startup ecosystem is poised to become more buoyant as 2019 unfolds with more appetite for seed funding as well as for larger funds at the Series B level. 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