Digital Boom

Category: Startups

  • Egyptian real estate platform ‘iCommunity’ raises $600K in Series A funding

    Egyptian real estate platform ‘iCommunity’ raises $600K in Series A funding

    ​iCommunity​, Egypt’s mobile community platform for the real estate industry, has announced $600K in Series A funding from Algebra Ventures.

    Founded in 2016, iCommunity is a community management platform and private social network that connects residents, real estate developers, and facility management all in a single, unified, extensible solution. With a focus on top-tier gated communities, iCommunity has been growing fast and helping transform customer engagement and service provisioning for developers and residents. The company now captures a significant market share of the gated community in Egypt.

    Algebra Ventures’ Managing Partner, Tarek Assaad, is enthusiastic about the investment, ‘The Algebra team enjoyed working with the iCommunity team to better understand their business and vision for the future of the company. We are impressed by the remarkable traction they achieved with the leading real estate developers in Egypt,’ says Assaad.

    Talking about the fast growth of the platform, iCommunity co-founder & CEO Karim Akram attributes the traction to the focus on customer experience, ‘We believe in the paramount importance of customer satisfaction in gated communities beyond just moving in. We aspire to make sure residents have exceptional experiences within their communities.’

    ‘With our targeted strategy and fast-growing platform, we’re in a great position to offer exceptional value to both developers and residents as we have a unique understanding of our residents’ needs,’ says Akram.

    ‘Startups that go after sizable multi-billion dollar industries, like real estate, attract Algebra’s attention,’ says Assaad, ‘The digitization of the real estate industry will create significant value in the MENA region and iCommunity is at the forefront of that transformation. We look forward to continuing to support the company as it further expands its reach and grows its customer base.’

    The company plans to use the acquired investment in two key areas, ‘We will use the funds to grow faster in Egypt and internationally,’ says Akram, ‘and to do that we need to invest in our organization. We want to build the best team to deliver a world class platform that disrupts the real estate industry.’

  • Vezeeta raises $12 million from Saudi Technology Ventures

    Vezeeta raises $12 million from Saudi Technology Ventures

    Egyptian digital healthcare startup Vezeeta has raised a $12 million Series C funding round led by Saudi Technology Ventures (STV).

    Vezeeta is a digital healthcare booking platform and practice management software. Patients are able to search, compare, and book the best doctors in just few minutes. Doctors also provide Patients with more organized healthcare experiences through the clinic management software.

    Vezeeta has managed three million bookings in the region, served 2.5 million patients and connected more than 10,000 doctors in Egypt, Saudi Arabia, and Jordan.

    Crunchbase estimates the total funds Vezeeta raised since launched in 2013 with $22.5 million. According to Crunchbase, Vezeeta had raised over $1,3 million in 2013 (Series A), 2.6 million in 2014 then 6.5 million in 2017 (Series B), followed by today’s (Series C) investment.

    Amir Barsoum, co-founder and chief executive officer (CEO) of Vezeeta said:

    “We are thrilled to see STV leading this round, we could not find a better investment team or strategic partner to help us take Vezeeta to its next stage in the region. We also welcome to our prominent investors profile CE-Ventures, and we are proud to receive the continuous support from our current investors BECO Capital, Vostok New Ventures and Silicon Badia.”

    STV partner Hani Enaya said “We love to support high-calibre founders who are transforming major industries.”

    “Upon meeting Amir and Vezeeta’s management team, it was immediately apparent to us that they are on such a mission. We believe Amir and the Vezeeta team can truly elevate the healthcare experience in the region,” he said.

  • A15 exits TPAY, sells 76% stake to Helios Investment Partners

    A15 exits TPAY, sells 76% stake to Helios Investment Partners

    A15, a leading tech investment fund based in the Cayman Islands; announced today that it has successfully sold 76% stake in its UAE-based fintech company TPAY Mobile, to Africa’s leading private investment firm Helios Investment Partners. TPAY is the fastest growing direct carrier billing “DCB” provider in the Middle East and North Africa region. 

    Following this deal, A15 became the first fund in the Middle East and Africa which created a Dragon from one of its investments, TPAY.

    A Dragon is an investment that returns the entire value of the fund when exited. In this case, TPAY returned a multiple of the value of the entire A15 Fund to its investors, a liquidity event that is very rare in the global tech investment space and a first of its kind in the MENA region. 

    This MENA’s First Dragon exit is the second major exit for A15 in three years after the sale of Otlob, one of the leading regional online food delivery businesses, to Rocket Internet. 

    Following the acquisition by Helios Investment Partners, A15 and the current executive team will continue to lead the implementation of TPAY’s growth strategy, with guidance from the new owners, and both will remain invested in a total of 24% of the company. 

    Established in 2014, TPAY was the first open mobile payment platform to be launched in the region and, today, commands the largest market share at 80% in the DCB space, also known as Direct Operator Billing, across 16 countries, with a total reach of 673 million users. The number of active digital content subscriptions set-up through TPAY’s platform grew at a compound annual growth rate (“CAGR”) of 149% since 2015. The company processed 622 million successful transactions since its launch. Through its partnerships with 33 leading mobile operators, the number of successful transactions processed by TPAY grew at a CAGR of 1,081% since its launch.

    The company was able to build strategic partnerships with key regional and international players such as GooglePlay, Wargaming, NetDragon,  CrossFire, Gameloft, OLX, Opensouq, MBC, iFlix, Abu Dhabi Media and Dubai Channels Network, amongst others.   

    The global DCB industry is expected to register a CAGR of 23% during the 2018-2022 period, according to the latest market research report by Juniper Research. TPAY achieved a year-on-year growth in Gross Revenue and EBITDA of 64% and 162%, respectively, well above the global DCB industry. 

    Karim Beshara, Chairman of A15, commented:

    “I would like to congratulate CEO Sahar Salama and her team for this significant milestone for the startup ecosystem as well as for TPAY, and to welcome our new partners, Helios. Creating a Dragon in our fund is ground-breaking for the region. TPAY is a company that became a fund-maker owing to the unique approach in which A15 manages its portfolio companies. The remarkable achievement of TPAY is the result of a success-focused team that shares knowledge, drives business, and delivers results, both at a fund level and at a portfolio company level. The DCB market fundamentals are very promising, and we strongly believe that with such a capable and experienced partner like Helios, TPAY is well-positioned to unlock its utmost potential. I am looking forward to continuing our work with Sahar and her exceptional team as well as with Helios to take TPAY to the next level of growth globally.”

    Fadi Antaki, Chief Executive Officer of A15, added:

    “TPAY as a portfolio company achieved this level of exponential growth driven by A15’s unique DNA and operating model; at the core of our value proposition as a tech investor is offering more than funding. Our fund teams provide strategic support and capacity, building best practices across key functions such as legal, finance, operations, HR and growth. A15’s ecosystem of regional offices and networks serve as a launchpad for our portfolio companies, as in the case of TPAY. We have an evident traction that our model not only increases the success rates of our portfolio companies but also generates outliers like TPAY. An integral part of our corporate culture is to create a sense of ownership amongst our employees in every company we fund and operate. Employees are literally invested in our successes, and they share in these successes, through the implementation of our employee stock ownership plans (ESOP). This approach played a pivotal role in TPAY’s phenomenal achievements. I am confident that TPAY is well placed to lead the future growth in the DCB sector within the mobile payment industry in the Middle East and Africa.”

    Babatunde Soyoye, Co-Founder and Managing Partner of Helios Investment Partners, said:

    “A15 and TPAY management have built an outstanding mobile payments platform that is profitable and still has a lot of room for growth in Africa and beyond given its applicability to a wide range of payment types and ease of use.  

    “TPAY’s business model leverages best-in-class technology and offers a high quality service to its partners; the company’s ability to develop strategic partnerships with key global merchants seeking an entry point into the Middle East and Africa speaks to the quality of the company’s offering and the management team. This is an exciting addition to the Helios’ payments franchise in Africa, and we look forward to working with the management team to achieve the next phase of innovation and growth for the Company.”

    DCB is expected to generate US $26 billion in End User Spend (EUS) in 2018 globally, and is predicted to grow to US$59 billion by 2022 according to Juniper Research, marking a 23% CAGR. 

    With an estimated 86% of adults who do not have a bank account in the MENA region according to Payfort &Wamda , mobile payments and DCB become key to buying digital and physical goods online. MENA is forecast to see the second fastest growth in smartphone adoption of any region over the next few years bringing smartphone adoption to 65% by 2020 as per the Global System for Mobile Communications Association (GSMA) report. 

    Sahar Salama, Co-Founder and Chief Executive Officer of TPAY, stated:

    “I am excited to be part of this next chapter of TPAY’s growth. The Helios team brings new energy from a vibrant and experienced team that will drive real value to the business. This partnership will expedite TPAY’s strategic growth plans and we are on track to double our year-on-year revenue in 2019. My team and I are very proud of the business that we have built, and we look forward to taking it to even greater heights with our new partners, and to continue to set new benchmarks for the sector in the region.” 

    TPAY plans to leverage this new partnership with Helios to expand into new markets with a focus on Africa and Asia, as well as expanding its footprint into new sectors to use DCB and introducing new partners to the market.

    As a leading tech investor, A15 generates a year-on-year growth of 30% and an annual revenue of US$158 million through its 17 portfolio companies operating in 20 markets with 17 offices and 1,000 employees. A15 will continue creating and investing in disruptive tech and tech-enabled companies as well as focusing on building stronger verticals in Fintech, E-Commerce, SaaS and Media with a vision of one day going public. 

  • ‘Startups Galaxy’ Vows to Reach 500 Egyptian Startups

    ‘Startups Galaxy’ Vows to Reach 500 Egyptian Startups

    Startups Galaxy is currently on a journey of “Road to 500 Startups” and we think this is a great chance for all entrepreneurs out there to join the first startups’ directory in Egypt

    Startups Galaxy is a platform promoting the discovery of startups in Egypt across more than 10 different categories. Their aim is to encourage the usage of startups by providing a free startups directory and enjoyable content. The directory has more than 190 startups registered and it rapidly adding more startups.

    Now, they are want to have 500 startups in Egypt on their directory as part of their #Roadto500Startups campaign. The initiative aims to centralize startups under one directory and make sure this is delivered in a simple and easy way. This is to make the entrepreneurial sector in Egypt much more clearer for new users, future entrepreneurs, and existing startups that can’t capture exposure.

    How to take part in #RoadTo500Startups?

    If you have a startup, submit your startup by filling their form for free. They are currently accepting startups in the following categories:  Shopping, Food & Ordering, Transportation, Home Services, Media & Design, Travel, Entertainment,  Business Services, Community, Career or Money Things.

    And they can also be under these exclusive new categories: Tech, Health, or Social Enterprise.

    Startups on the site can create their profile for free. Startups Galaxy provides possible upgrades as well, so they can get more visibility on the website too, and get hundreds of views.

  • How AI can open up Silicon Valley to international investors

    How AI can open up Silicon Valley to international investors

    Mobile apps are detecting skin cancer. Drones are delivering aid across continents. Artificial intelligence is disrupting every aspect of our lives. The venture capital world is no exception.

    VCs are heading in the same direction, where AI augments human intelligence. Lately, VCs have been following more or less the same pattern. They are waiting longer to see some startup traction. But this entails seeing a significant increase in the valuation of the startup. Even worse, they could end up excluded from the next funding round. AI can change these dynamics. It can help investors find promising startups in earlier rounds, pre-traction if necessary.

    This will open the door to SV. It will provide opportunities for investors and family offices from the Middle East. It will decentralize venture capital with new investors from all over the world. They may not have local expertise. But they come armed with data-driven investment decisions. The SV early-stage startup investment space may no longer be in the hands of a few.

    Catching the AI wave

    The VC world is changing fast. Many are exploring the rising popularity of data-driven investing. They are building their investment portfolios the Moneyball way.

    A KPMG report puts total investments in Q1 this year at USD 49 billion across 2,661 global deals. The report noted that AI and Machine Learning are the center of VC attention. More companies are integrating such enabling technologies into their solutions. And more investors are becoming aware of their disruptive potential.

    Data-driven VC Funds are on the rise. Key players include Correlation Ventures, SignalFire, and Google Ventures. More and more platforms are positioning themselves as trusted data providers. The go-to place for information on early-stage startups. Famous among those are CB Insights, Crunchbase, and Pitchbook. 

    Changing the traditional model 

    More VCs are using AI in their deal sourcing and selection to catch the next Airbnb or Facebook. It’s not a coincidence that SV is getting more data-hungry. Several companies are working with investors on honing data-driven decision-making. This includes Aingel, an AI startup I co-founded in 2016 with my Master of Science colleagues at NYU. It’s where we envisioned an algorithm that predicts the success of brand-new startups.

    VCs are taking a more data-driven approach toward investment decisions in Silicon Valley. This is where Aingel comes in. We help investors find those diamonds in the rough. Our team of data scientists is currently using a patent-pending algorithm. They score startups and match them with ideal VCs most likely to invest in their stage and space. This will help VCs focus on the next disruptive startups. It will attract more investors to Silicon Valley. More money is poured into fewer startups, especially in the early stages. 

    Stepping Stone to SV

    The data-driven investment models are an opportunity for new investors. They can enter, compete and succeed in Silicon Valley – a field dominated by few, big local players. Quality deal flow is important for both local and international investors. The more we use data, the better we are at finding and investing in great startups. This is before they even show traction and get popular among other investors. Our algorithms show that we can reduce portfolio risk and improve returns by 2.5x.

    Data-driven investing has the potential to open up Silicon Valley to the world. This will bring in a new funding channel that can fill the fundraising void for early-stage startups. Several investors from the Middle East would love to hop on. They would not hesitate to invest in the next game-changing startups in Silicon Valley. All they need is deal flow, data, and access.

    Beyond investing

    Besides opening up investment opportunities here, AI is creating jobs back home. There is ongoing rhetoric about the impact of AI on unemployment. But AI can also provide global employment and cultivate future talent.

    Let’s take Egypt as an example. Current data show a growing population approaching 100 million with a median age of 24. National statistics for employment in Egypt tell an interesting story. During such economic hardship, unemployment dropped 11.8% in 2017, down from 12.5% the previous year. 

    The country’s young tech talent can make use of remote work opportunities. They can contribute to disruptive technologies anywhere in the world. This will also reflect on their expertise and skills as they work on the latest in the tech field.

    At Aingel, we are hiring around 42 data researchers based in Cairo. We tried Amazon Mechanical Turk for aggregating data. But we discovered a need for more nuanced data. Most of my remote team works on aggregating startup founders’ data. We use this data in our work at Silicon Valley with top international and US investors.

    The VC world is investing in potential future disruptive startups. Our talent is setting the gears in motion and getting the job done. We hope data-driven investing will encourage VCs from the region to make it in Silicon Valley.

    Amr Shady
    Amr is the Co-founder and CEO of Aingel Corp., a spin-off from his research on predicting startup success at New York University. Aingel works with top Silicon Valley and international VCs to scale their deal flow sourcing and selection process. Its algorithms also help promising startups fundraise faster by identifying best-matching VCs. Aingel’s investors include Silicon Valley Bank, 500 Startups, Endure Capital, BECO Capital and OTG Ventures. Amr has over 18 years of experience in building and scaling companies. He founded TA Telecom at 22 and bootstrapped it with $50,000 to millions in revenue. He earned several international awards, including Deloitte’s Technology Fast 500 EMEA. The Financial Times also dubbed his first startup a “local hero.” Amr is a board member of Endeavor and TechWadi, two non-profits promoting entrepreneurship. He earned his MSc in Business Analytics from NYU. He graduated from Dalhousie University with a BSc in Electrical Engineering.

  • Egyptian social media monitoring tool ‘Crowd Analyzer’ raises $1.1 million

    Egyptian social media monitoring tool ‘Crowd Analyzer’ raises $1.1 million

    Crowd Analyzer, the Arabic-focused social media monitoring tool, has received pre-Series A funding of $1.1 million from a group of venture capital firms in Kuwait, Saudi and the UAE.

    The group of investors was led by Wamda Capital and included Arzan Capital, Faith Capital and Raed VC. This fund will enable Crowd Analyzer to scale up the business and expand its operations in Saudi Arabia and the MENA region.

    Crowd Analyzer was founded in 2014 by Egyptian entrepreneurs Ahmed Saad and Bahaa Galal, started commercial operations in 2016, with headquarters in UAE and Egypt. The company is specialized in Arabic-focused social media monitoring, analyzing content and conversations for sentiment, relevance and Arabic dialect.

    Crowd Analyzer’s portfolio includes major corporations in 10 different Arab countries and features international brands including Dubai Media Group, International Committee of the Red Cross, Expo 2020, Huawei, Souq.com, DHL and Uber.

    “For three years, Crowd Analyzer has delivered actionable intelligence and data enabling world-class companies in the region to harness the power of social media. As the only Arabic-focused social media monitoring platform, we offer our clients invaluable data that incorporates regional dialects, relevance and of course sentiment analysis. This latest round of funding will enable us to continue our growth in Saudi Arabia and allow us to explore further opportunities in the regional market.” Said Ahmed Saad, CEO and cofounder.

    Crowd Analyzer has supported major regional and international events such as the Creative Industry MENA, World Government Summit, Cannes Lions and Dubai Lynx through setting up command centers to garner real time information on the conversations surrounding the events on social media as well as PR mapping, competitor benchmarking, brand health audits and influencer analysis.

    Bahaa Galal, CTO and Co-founder of Crowd Analyzer, said: “Our use of AI and Machine Learning enables us to better monitor social media and mine data, providing brands and organizations with the most up-to-date and relevant insights.”

  • Jordanian Startup ‘Mawdoo3.com’ Raises US$13.5 Million

    Jordanian Startup ‘Mawdoo3.com’ Raises US$13.5 Million

    Jordanian startup Mawdoo3.com, the world’s most visited Arabic website with more than 45 million unique users per month, has completed a US $13.5 million Series B round. The raise was led by UK-based Kingsway, with participation from US-based Endure Capital.

    Mawdoo3 is a comprehensive online Arabic content platform, based in Jordan, that uses the wiki system similar to Wikipedia, and provides premium quality Arabic content.

    Mawdoo3 logo, Jordanian Startup 'Mawdoo3.com' Raises US$13.5 Million
    Mawdoo3 logo

    It was initially established in 2010 by Mohammad Jaber and Rami Al Qawasmi, and officially launched in 2012. It won the first prize for the Queen Rania National Entrepreneurship Award for the category of universities and academics in 2011. 

    This investment will enable Mawdoo3 to expand its content and AI technology as it seeks to further its mission of enriching the Arabic language online, with just 1% of web content in Arabic when more than 5% of the world’s population, some 420 million people, speak it.

    Currently the website serves 45 million unique users monthly and has nearly 150,000 articles online covering a wide-range of topics, ranging from lifestyle, health, education and food. The site continues to grow at pace, with the equivalent of two novels published on the platform every day.

    Earlier this year, the company announced its plans to launch ‘Salma’, an Arabic version of Siri and Alexa, which will be deployed to answer factoid questions from Mawdoo3’s platform, thus adding a new channel for consuming Arabic content. Salma will be used as an Arabic voice interface service for businesses in multiple sectors including travel, automobile, telecom and electronics, enabling consumers to engage and transact with these businesses via voice.

    Commenting on the investment, Rami Al-Qawasmi, Co-founder and CEO of Mawdoo3.com, said: “The world’s Arabic speakers are the most underserved online, with the availability of quality Arabic content limited and technology, particularly in voice, not having the same impact as other languages. Our mission is to change that and build on our strong position as the most visited daily Arabic website in the world today”.

    “This investment from international investors is a validation of Mawdoo3’s potential. Our success is a result of the trust built over the past six years with our users, which is a motivation for us for an even greater impact in the coming years as we expand our content and the channels through which we deliver that content to the Arabic-speaking world online.”

    Tarek Fahim, Partner at Endure Capital, said: “If you think being the number one Arabic destination worldwide with more than 45 million monthly unique visitors is enough, think again: this is just the beginning. Mawdoo3’s unique data sets and technical talents give them a head start on the AI race. We at Endure Capital are proud to be a part of their journey.”

  • Namshi Unveils Key Trends For The Season

    Namshi Unveils Key Trends For The Season

    It’s time to revamp your wardrobe, alright! Specially curated by the fabulous fashion team at Namshi, this season’s trend edit unveils a selection of contemporary outfits for the modern woman. From feminine silhouettes and playful embroideries to denim staples and sneakers that steal the show, the latest collection of womenswear offers the perfect look for everyone.

    Country Casual

    Denim, denim, everywhere! Featuring denim essentials with a playful twist, pair up your favourite pair of jeans with a statement hat and bold ankle boots for that effortless country style. Play around with quirky crop tops, unique jewellery pieces and printed turbans to create a look that is sure to make heads turn.

    Country Casual, Namshi.com, Namshi Unveils Key Trends For The Season
    Namshi.com

    Edgy Romance

    Ditsy florals and floaty silhouettes dominate this season. Throw in just the right amount of oomph to your wardrobe as Namshi unveils a stunning collection of summer favourites that combine feminine style with a bold attitude for that added edge.

    Edgy Romance, Namshi Unveils Key Trends For The Season
    Namshi.com

    Street Chic

    Every season is sneaker season! Strut out in style with a stunning pair of kicks that will definitely make you stand out. Find your dream pair of sneakers from leading brands and style it with a super cool slogan dress for the ultimate street style.

    Street Chic, Namshi Unveils Key Trends For The Season
    Namshi.com

    Human Nature

    Think vibrant embroideries and colourful fringed accessories. An ode to the everlasting Bohemian trend, this collection showcases a selection of loose and comfortable outfits highlighted by striking surface design and prints.

    Human Nature, Namshi Unveils Key Trends For The Season
    Namshi.com

    Namshi.com was founded in 2011 to three bright men with an even brighter idea, Namshi was created to offer a brand new shopping experience to the UAE. Merging accessible, directional fashion with leading digital innovation, our independent spirit soon had style-obsessed 20-somethings hooked on 500 new arrivals daily and the latest offering of trends on web and app. Now, our selection of 700 brands (and counting) includes huge global names, exclusive in-house labels, the latest sports collaborations, activewear, beauty, kidswear and much, much more, all carefully curated for our fashion forward community.

  • Farawlaya.com a startup that revolutionizes how Egyptians buy home wear

    Farawlaya.com a startup that revolutionizes how Egyptians buy home wear

    Farawlaya.com is the fastest growing specialty online retailer of women’s home wear in Egypt; serving women of all shapes and sizes. Farawlaya has a mission, which is making the home wear online shopping experience more private, easy and more enjoyable than visiting your favorite physical store.

    Farawlaya’s home wear products are the perfect choice for women and married couples in terms of fashion trends variety and convenience of price without sacrificing quality or privacy. In so, Farawlaya is disrupting the old home wear existing industry in Egypt at scale as well as offering a fully-fledged online experience that is new to the market.

    “Besides the huge offline demand for women’s home wear in Egypt, we are witnessing as an online retailer evident organic traction in a short period of time which shows the potential of this market, “said Haitham El Nemr, Farawlaya’s CEO. He adds, “Our platform gets an average of 15K monthly visitors and our Facebook page has 160K follower who actively engage with our product listings and offers.”

    Farawlaya team believes delivery convenience has many benefits on customer experience and business levels. In so, the Cairo-based startup delivery operations goes beyond the Egyptian capital to include governorates and the Middle East. In this context, El Nemr, said, “Delivery convenience and options are key to increasing online retailers’ basket size and providing compelling experience to online shoppers.”

    Variety is one the key value propositions that Farawlaya offers to women’s home wear online shoppers. El Nemr, commented on this, “We as an online retailer do not need to hold an inventory everywhere as brick and mortar businesses do.” He adds, “Using one touchpoint-our platform- online shoppers can browse and shop from a wide variety of products curated from various suppliers; so we are keen to fulfilling all women’s tastes through the variety aspect of our business as we are giving our clients access to more than 500 products in 10 different categories.”

    It is worth mentioning that Farawlaya’s Co-founder and CEO, Haitham El Nemr, announced closing a seed-funding round in Q4 2017 with A15 the leading technology investor. 

    A15 is an entrepreneurial company that invests in digital products and technology brands. Its team believes in people and aspire to empower the human race to overcome its limits and expand its capabilities by creating impactful technologies. It has a portfolio of 18 companies and employs around 1000 employee in more than 20 promising markets in the Middle East. 

  • 500 Startups MENA gearing up to host investor day

    500 Startups MENA gearing up to host investor day

    Silicon-Valley based 500 Startups, the most active early-stage Venture Capital Fund in the Middle East and North Africa (MENA) region, has announced it is gearing up to host Investor Day, which marks the culmination of 500 Startups MENA Dojo Series A ‘growth acceleration’ program.

    This high-profile event will be held at the Sheikh Jaber Al-Ahmad Cultural Centre, Kuwait on 10th May 2018.  Venture capitalists, VIP delegates, government officials, accelerators, financial organisations and entrepreneurs from across the MENA region are expected to attend.

    The key sponsors for the event include: Qatar Science and Technology Park (QSTP), Program Partners; Kuwait Achievers and Future Opportunities (KAFO) and Sirdab Lab as Organizing Sponsors; and Faith Capital, Microsoft and Sheikh Jaber Al-Ahmad Cultural Centre as Event Sponsors.

    The keynote and panel speakers for the event will feature Venture Capitalists and Investors from across the MENA region, including Hasan Haider and Sharif El-Badawi, Partners of 500 Startups.

    12 startups who were hand-picked and mentored by a team of international experts from 500 Startups will pitch their business concepts as part of an exciting fast-paced agenda. The aim of this high-profile event is to showcase the latest and greatest startups that have successfully completed their mentorship sessions and help them to pitch their business concept to the investors to raise the next round of funding.

    Commenting on the announcement, Hasan Haider, Partner at 500 Startups said: “We are eagerly looking forward to host Investor Day and would like to thank our sponsors for their invaluable support.  Our strategy, at 500 Startups is to bring our Silicon Valley honed Series A program to the MENA region, and equip our invested companies with international-grade skills, knowledge and perspective to operate at a pace that will help them dominate on a global scale. To this effect, the program was taught by a 500 Startups team of growth experts from all over the world, all of whom are former entrepreneurs themselves, having built and grown technology ventures, many of whom have successful exits. 

    “It has been an exciting journey over the past few weeks preparing for the pitch process and delighted by the drive and determination shown by the startups; the growth improvements which has surpassed our expectations yet again. We are very excited for them to share their progress at Demo Day and are confident that we have found more future unicorns to add to our portfolio, he added.”

    The second batch of new startups who received up to US$ 150,000 funding from 500 Startups MENA fund include:

    • Eyewa, online glasses and contact lenses retailer
    • GymNadz, fitness app for millennials
    • Keno, on-demand car wash app
    • La Reina, marketplace for renting dresses
    • at home doc, medical service app
    • Melltoo, second hand goods marketplace app
    • Mr Draper, personalized clothing stylists for men
    • MyU, education platform for parents, teachers and students
    • Nawah, scientific outsourced laboratory service
    • Plantshop, online nursery commerce
    • SocialDice, HR platform for recruiters
    • VBOUT, marketing technology platform

    The MENA Dojo Series A growth hacking program was held in two modules for the 12 seed and post-seed regional companies in Kuwait. The first module was held from April 1-12 and the second module is currently underway from April 29-9 May.  The topics discussed during the intense training program involved developing a scale-able growth machine to boost exponential growth. 

    With the first investment in the MENA region in 2012, 500 Startups has since committed to investments in over 80 startups across the region. With the launch of 500 Falcons, a MENA focused fund in 2017, 500 Startups plans to invest in approximately 100-150 companies over a three-year period in addition to follow-on investments into the top performing companies.