TLDR:
- Oraseya Capital invested in 7 technology startups through Sandbox: UAE
- The startups received an investment of AED 570,000 (USD 150,000) each
Oraseya Capital, through its accelerator program, Sandbox, invested in seven technology startups in the UAE. The program, aimed at supporting the growth of tech startups, received over 1,500 applications and selected these seven startups to receive significant funding. The startups cover various sectors such as recruitment tech, sustainable food tech, AI, B2B SaaS, fintech, productivity, and construction project management.
Hassan Waheed, VP of Corporate Finance and Treasury at DIEZ and Partner at Oraseya Capital, expressed pride in the progress made by the organization and highlighted Sandbox’s role in promoting small and medium-sized enterprises in line with Dubai’s Economic Agenda D33. Apart from investing in these startups, Oraseya Capital also led investment rounds in other tech companies, showcasing their commitment to boosting Dubai’s digital economy and competitiveness in attracting and financing tech startups.
The Sandbox Accelerator program provides mentorship, workshops, and networking opportunities for startups over a 5-month period. The program’s structured approach has been praised by startup CEOs, Saad Malik of Zoya, and Alex Epure of Qureos, for its role in helping their businesses grow. The fifth edition of the Sandbox program, set to begin in September 2024, has already received over 1,100 applications, reflecting the continued interest and success of the initiative in supporting tech startups in the region.
