500 Global and Sanabil Investments announce Batch 7 of the Sanabil 500 MENA Seed Accelerator Program
2024年5月14日 - 5:38PM
ビジネスワイヤ(英語)
Twelve companies will present live at Demo Day
on May 29th, 2024 at the Four Seasons Hotel in Riyadh
Multi-stage venture capital firm 500 Global and KSA-based
Sanabil, a financial investment company [wholly owned by the Public
Investment Fund (PIF)] announced the seventh batch of their Sanabil
500 MENA Seed Accelerator Program, aimed at helping up-and-coming
companies scale up in the region.
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The final selected companies are focused on developing solutions
across a diverse range of sectors, including Fintech, Foodtech,
SaaS, ML & Software, E-Commerce, AgTech, AdTech, and Proptech.
The twelve companies were selected out of around 400 applicants.
The applicants come from the Middle East & North Africa, with
Saudi Arabia, UAE, and Egypt as the top three countries.
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. Seventy-seven companies have already
graduated from the program.
“This batch represents the 7th edition of the Sanabil 500 MENA
Seed Accelerator, and showcasing these startups at the upcoming
demo day fills us with pride. Their maturity and the exciting,
diverse opportunities they offer, coupled with the keen interest
from numerous international investors looking to engage with the
region, highlight the vibrant theme of this era in the region. We
are privileged to be contributing significantly to the development
of this ecosystem as a global platform is exhilarating,” stated
Amal Dokhan, Managing Partner at 500 Global MENA.
“This is our seventh Sanabil 500 MENA Seed Accelerator Program
and the competition is as intense as we have ever seen it. With
around 400 applicants, this year’s 12 finalists represent come from
a diverse range of sectors including, food and agritech and other
solutions-based tech from their industry. We believe the program
will help shape their entrepreneurial journey and we remain
committed to supporting and guiding them as they validate their
product and plot a path to profitability,” said a Sanabil
spokesperson.
The 12-week program offers founders one-on-one mentorship with a
focus on business strategy development, fundraising, and growth. It
culminates on May 29, 2024, with Demo Day at the Four Seasons Hotel
in Riyadh, in front of a live audience of key stakeholders,
including venture community members, corporates, and industry
professionals. The event will also be live-streamed to a general
audience on YouTube.
The following is the list of Batch 7 companies that have made it
through to the final round:
- Agile Loop (Saudi Arabia): A self-learning AI that listens to
users, learns their tasks, and operates computers on their
behalf.
- Comfi (UAE): Frees up cash flow for B2B suppliers by paying
them upfront while offering flexible payment terms for their
buyers
- Desert Farms (USA): A D2C baby formula that delivers the
superfood benefits of Camel Milk.
- Doos (Saudi Arabia): A lifestyle app that delivers your daily
needs and wants with premium experience in less than 30
minutes
- Fai (Saudi Arabia): An easy solution that automates tax
management for SMEs and individuals, to ensure compliance.
- Metric (UAE): A financial analytics app that helps business
owners make better decisions by organizing their scattered
financial data into actionable insights.
- MLNetworks (Morocco): Helps Telcos to design, operate and
optimize their networks more intelligently through an end-to-end
data platform.
- Octa (UAE): A one-click automated invoice collection process
helping B2B companies get paid on time.
- Poultry Sync (UAE): A genetics-to-table AI-powered platform to
comply with safety regulations and boost profits for poultry
producers.
- Reno (UAE): Digital platform enabling homeowners make dream
homes a reality by simplifying and managing the whole renovation
process.
- Sav (UAE): An inclusive platform helping consumers spend and
save smarter through gamified personalized journeys.
- Sweply (Saudi Arabia): Makes it simple to create, manage, and
analyze digital marketing campaigns on multiple platforms from one
place.
With the seventh cohort of the program concluding in May, the
program is already accepting applications for the next batch. We
invite innovative startups to apply for our upcoming batch and join
us in this exciting journey by clicking here.
About 500 Global
500 Global is a multi-stage venture capital firm with $2.4B in
assets under management as of March 31 2024 that invests 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 on how best to support
entrepreneurial ecosystems so startups can thrive. 500 Global has
backed over 5,000 founders representing more than 2,900 companies
operating in 80+ countries. We have invested in more than 35+
companies valued at over $1 billion and 160+ companies valued at
over $100 million (including private, public, and exited
companies). Our 200+ team members are located in over 30 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, wholly owned by the
Public Investment Fund (PIF). We commit more than USD 3 billion in
capital per annum into global private investments that include
VC/growth and small buyout assets. We are a dynamic, nimble, and
highly experienced team of investment professionals. We provide
partners with patient capital, the ability to invest across
multiple funding rounds, and access to the region. At Sanabil, we
invest in great ideas, great minds, and great companies. For more
information, please visit www.sanabil.com.
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