Oraseya Capital Invests in Seven Technology Startups Through UAE Sandbox Program

Oraseya capital invests in 7 technology startups through Sandbox: UAE - Times of India

Sandbox, an accelerator program part of Oraseya Capital and the Dubai Integrated Economic Zones Authority (DIEZ), recently completed its fourth cohort. This program, aimed at helping technology startups grow, received over 1,500 applications. Seven startups were selected to receive an investment of AED 570,000 (USD 150,000) each from Oraseya Capital. Hassan Waheed, Vice President of Corporate Finance and Treasury at DIEZ and Partner at Oraseya Capital, expressed pride in the progress made by Oraseya Capital since its launch in late 2023. He emphasised Sandbox's role in promoting the growth of small and medium-sized enterprises across different sectors and supporting the Dubai Economic Agenda D33. Waheed also highlighted the commitment to boosting Dubai's digital economy and competitiveness in attracting and financing tech startups. Besides the investments through Sandbox, Oraseya Capital led an investment round in Growdash, a SaaS platform for restaurant marketing and operations, and participated in funding rounds for startups like RemotePass, an HR tech platform, and iSchool, an EdTech company. The seven startups funded in the fourth Sandbox cohort are Qureos, Herogo, Lisan, Sthrive, Zoya, JobEscape, and Opteam. These startups cover various sectors such as recruitment tech, sustainable food tech, AI, B2B SaaS, fintech, productivity, and construction project management. Saad Malik, CEO of Zoya, and Alex Epure, CEO of Qureos, praised the Sandbox program for its mentorship, supportive community, and structured approach, which helped their startups grow. The Sandbox Accelerator is a 5-month program with an 8-week "Evaluation phase" and a 3-month Accelerator phase, offering mentorship, workshops, and networking with regional investors. The fifth edition of Sandbox, which has already received over 1,100 applications, will start in September 2024. At TOI World Desk, our dedicated team of seasoned journalists and passionate writers tirelessly sifts through the vast tapestry of global events to bring you the latest news and diverse perspectives round the clock. With an unwavering commitment to accuracy, depth, and timeliness, we strive to keep you informed about the ever-evolving world, delivering a nuanced understanding of international affairs to our readers. Join us on a journey across continents as we unravel the stories that shape our interconnected world.

UAE: Oraseya Capital invests in seven technology startups through SANDBOX

Seven technology startups received investment from Oraseya Capital, with each startup receiving AED 570,000 (USD 150,000) following their success in the programme, which attracted over 1,500 applications. Hassan Waheed, Vice President of Corporate Finance and Treasury at DIEZ and Partner at Oraseya Capital, said: "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. The high level of interest in its SANDBOX programme, as well as the many innovative and creative ideas and ambitious projects, reflect the long-term importance of this strategic initiative in promoting the growth of small and medium-sized enterprises in various sectors. We are committed to supporting the digital economy sector in the Emirate of Dubai and contributing to the goals of the Dubai Economic Agenda D33." "Oraseya Capital has invested in startups that have proven high growth opportunities, characterized by creative ideas and innovative visions. Seeking to change the reality and future of the advanced and modern technology sector, we look forward to realizing new levels, all in line with our efforts towards enhancing the competitiveness of Dubai in terms of attracting and financing technology startups, bolstering its stellar reputation as a destination for global investments," he added. Hassan Waheed said that in addition to these new investments, Oraseya Capital has strengthened its efforts by leading an investment round in Growdash, a Dubai-based SaaS platform that specializes in empowering the marketing and operations efforts of restaurants, as well as building, implementing, and managing their growth strategies through digital sales channels. Oraseya Capital has also participated in a series of investment rounds for several other startups, including RemotePass, an HR tech-platform streamlining management of remote teams, and iSchool, an EdTech upskilling youth with digital capabilities. The seven startups that received funding from the fourth cohort of the SANDBOX Accelerator programme are: Qureos, a recruitment tech startup matching talent with jobs 10x faster; Herogo, the sustainable food tech subscription platform for fruit and vegetables; Lisan, a deeptech generative AI startup specialising in Arabic linguistics; Sthrive, a B2B SaaS platform for retailers designed to boost sales and employee performance; Zoya, a fintech startup that makes halal investing easy and accessible for Muslims worldwide; JobEscape, a productivity startup upskilling freelancers and employees alike, with AI tools; and Opteam, leveraging AI-driven optimisations to project management in the construction sector. For more information about the seven startups, click here. Saad Malik, Co-founder and CEO of Zoya, said: "SANDBOX provided an invaluable foundation for Zoya. Their mentorship and supportive community empowered us to refine our startup and prepare for the next stage of our journey. We're excited to apply these insights as we move forward." Alex Epure, CEO and Co-founder of Qureos, said: "The SANDBOX Accelerator programme is very well structured with lots of value. It's backed by Oraseya Capital which can follow on future investment rounds which is not always the case with other programmes." SANDBOX is a 5-month Accelerator programme spanning 2 phases. The first phase is an "Evaluation phase" lasting 8-weeks, which culminates with startups pitching to the Investment Committee of Oraseya Capital. Successful startups then formally proceed into the 3-month SANDBOX Accelerator programme, each receiving an investment offer from Oraseya Capital. The SANDBOX programme encourages a mindset of experimentation and is focused heavily on revenue generating activities and well as further fundraising efforts. Startups benefit from mentorship hosted by experts in the world of business and technology, as well as exposure to fellow investors. Startups participating in the programme benefit from more than 50 hours of workshops that include access to an integrated package of financial analytics, marketing strategies and legal compliance programs. Entrepreneurs in the SANDBOX programme also receive more than 30 hours of mentoring from industry experts and have the opportunity to network with regional investors. The fifth edition of SANDBOX, which has already received more than 1,100 applications, will commence at the beginning of September 2024. (ANI/WAM)