RIYADH, Saudi Arabia – 500 Global, a leading global venture capital firm, and Sanabil Investments, a financial investment company focused on global private investments in venture capital, growth and small buyouts, unveiled today 14 startups in Batch 3 of the Sanabil 500 MENA Seed Accelerator Program 2022. They were selected out of more than 500 applicants from MENA – which represents an acceptance rate of less than 3%.
The Sanabil 500 MENA Seed Accelerator Program provides pre-seed and seed-stage startups across the Middle East and North Africa with the foundation they need to validate and scale their business regionally and globally.
The finalists in Batch 3 are working to address solutions in a diverse range of sectors, including fintech, e-commerce, education, and NFTs. Applications were received from across MENA, with the top three countries being Egypt, Saudi Arabia and the UAE.
“Nearly 40 companies have graduated so far from the Sanabil 500 MENA Seed Accelerator since its launch a year ago. They represent the seeds of the future in an ecosystem that is gaining momentum rapidly. At 500 Global, we are thrilled to play our part in equipping founders with the tools they need to scale and contribute to the region’s economic development,” said Amal Dokhan, Partner, 500 Global.
“We are delighted with the quality of this batch of startups. Our finalists reflect the evolving breadth and depth of today’s entrepreneurial ambitions and where founders believe their products and services could soon make a difference in our everyday lives. We look forward to this exciting Demo Day to witness firsthand how the founders will articulate the transformation of their visions into commercial realities,” said Sanabil Spokesperson.
The 11-week program offers founders one-on-one mentorship with a focus on business strategy development, fundraising, and growth. It culminates on June 1, 2022 with Demo Day at the Fairmont Hotel in Riyadh, in front of a live audience of key stakeholders, including accredited investors, corporates and industry professionals. The event will also be livestreamed to a general audience on YouTube.
Here are the Batch 3 companies:
Ajjerni (Lebanon): Rental marketplace that allows users to rent everyday items from others in their community.
Amused (Saudi Arabia): Connects buyers and sellers of authentic pre-owned high-end luxury fashion.
Countd (UAE): Allows customers to pre-schedule healthy meals from favorite restaurants, based on fitness goals and diet preferences.
Drahim (Saudi Arabia): Manages wealth through auto-saving and investing based on a customer’s risk tolerance and financial goals.
Efreshli (Egypt): Curated home furniture destination.
Fawaterak (Egypt): Complete payment and financial solution for social commerce merchants.
Impactyn (Egypt): Crowd marketing platform.
Jade Autism (UAE): Fast-tracks the education of autistic children.
Rabbit (Egypt): Enables quick, eco-friendly, short-distance trips by renting e-scooters and e-bikes.
Remooz (Egypt): Free social marketplace to create and trade NFTs.
Siolla (Saudi Arabia): Turns spare cash into a stream of passive income.
Stllr Network (Egypt): Sources qualified experts for marketing campaign needs.
Sweater (Saudi Arabia): Car-cleaning inside and out, anywhere and anytime.
Yanzo (UAE): Text-based, on-demand personal assistant that handles day-to-day errands.
To attend demo day, please request an invite here.
About 500 Global
500 Global is a venture capital firm with $2.7B in assets under management that invests early in founders building fast-growing technology companies. We focus on markets where technology, innovation, and capital can unlock long-term value and drive economic growth. We work closely with key stakeholders and advise governments and corporations on how best to support entrepreneurial ecosystems so startups can thrive. 500 Global has backed over 5,000 founders representing more than 2,600 companies operating in 81 countries. Our portfolio includes 45 companies valued at over $1 billion and 130+ companies valued at over $100 million. Our 140+ plus team members are located in more than 20 countries and bring experience as entrepreneurs, investors, and operators from some of the world’s leading technology companies.
About Sanabil Investments
Sanabil is a financial investment company that commits approximately $2 billion in capital per annum into private investments that include venture capital, growth, and small buyouts. Since our 2009 inception with $8 billion in paid-up capital, we have seen firsthand how bold ideas can disrupt traditional business models; ideas that enable new and improved ways of producing, consuming, and experiencing things. We choose to partner with the architects of these ideas. We are a dynamic, nimble, and highly experienced team of investment professionals that provides partners with patient capital, the ability to invest across multiple funding rounds, and access to the GCC investment ecosystem. At Sanabil, we identify, invest in, and transform groundbreaking ideas into tangible realities.
Notes:
500 GLOBAL PROGRAMS ARE OPERATED BY 500 STARTUPS INCUBATOR, L.L.C. (TOGETHER WITH ITS AFFILIATES, “500 GLOBAL”) AND 500 GLOBAL FUNDS DO NOT PARTICIPATE IN ANY REVENUE GENERATED BY THESE ACTIVITIES. PARTICIPATION IN THE ACCELERATOR DOES NOT GUARANTEE INVESTMENT BY A 500 GLOBAL FUND AND INVESTMENTS MAY NOT HAVE BEEN COMPLETED IN ALL COMPANIES AS OF DEMO DAY.
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THE TITLE “PARTNER” IS USED IN ACCORDANCE WITH CUSTOMARY BUSINESS PRACTICE IN THE VENTURE CAPITAL INDUSTRY AND DOES NOT INDICATE A LEGAL STATUS AS “PARTNER” IN A PARTNERSHIP.
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*Source: AETOSWire
