Oraseya Capital Fuels Growth Of Seven Tech Startups With Strategic Investments

SANDBOX, an accelerator programme under Oraseya Capital, part of the Dubai Integrated Economic Zones Authority (DIEZ), has concluded its fourth cohort. Seven tech startups received AED 570,000 (USD 150,000) each from Oraseya Capital. The programme attracted over 1,500 applications.

Hassan Waheed, Vice President of Corporate Finance and Treasury at DIEZ and Partner at Oraseya Capital, highlighted their achievements. "We are proud of the milestones that Oraseya Capital has achieved in startup investments within just a few months of its launch in the end of 2023," he said. He emphasised the strategic importance of promoting small and medium-sized enterprises across various sectors.

Waheed added that Oraseya Capital focuses on startups with high growth potential and innovative ideas. "Oraseya Capital has invested in startups that have proven high growth opportunities, characterised by creative ideas and innovative visions," he noted. The aim is to enhance Dubai's competitiveness in attracting and financing technology startups.

In addition to these investments, Oraseya Capital led an investment round in Growdash, a SaaS platform aiding restaurant marketing and operations. They also participated in rounds for RemotePass, an HR tech platform managing remote teams, and iSchool, an EdTech startup enhancing youth digital skills.

The SANDBOX Accelerator programme spans five months and includes two phases. The first phase is an eight-week evaluation period where startups pitch to Oraseya Capital's Investment Committee. Successful startups then enter a three-month accelerator phase with investment offers from Oraseya Capital.

Mentorship and Workshops

The programme encourages experimentation and focuses on revenue generation and fundraising efforts. Startups receive over 50 hours of workshops covering financial analytics, marketing strategies, and legal compliance. Additionally, they benefit from more than 30 hours of mentoring from industry experts.

The seven funded startups include Qureos, Herogo, Lisan, Sthrive, Zoya, JobEscape, and Opteam. Each startup brings unique innovations to their respective fields such as recruitment tech, sustainable food tech subscriptions, AI-driven Arabic linguistics solutions, B2B SaaS for retailers, fintech for halal investing, productivity tools for freelancers and employees using AI, and AI optimisations for construction project management.

Testimonials from Founders

Saad Malik of Zoya praised SANDBOX: "SANDBOX provided an invaluable foundation for Zoya. Their mentorship and supportive community empowered us to refine our startup." Alex Epure of Qureos also commended the programme: "The SANDBOX Accelerator programme is very well structured with lots of value."

The fifth edition of SANDBOX will begin in September 2024 with over 1,100 applications already received. This continued interest underscores the programme's success in fostering innovation among tech startups.

This initiative aligns with Dubai's goals under the Dubai Economic Agenda D33 to support the digital economy sector. The ongoing commitment to nurturing tech startups reflects Dubai's ambition to be a global investment hub.

With inputs from WAM