- Hub71 welcomed 21 startups in its 15th cohort, with these ventures collectively raising over USD 130 million in funding.
- 80% of the selected startups are headquartered outside the UAE, highlighting Hub71’s global appeal.
- Nine startups will join Hub71’s Access program, while seven will join Hub71+ ClimateTech, and five will enter Hub71+ Digital Assets.
- The cohort includes innovative startups like EpiBone, which raised USD 43 million, and Partanna Oasis, which raised USD 26 million.
- Startups will benefit from access to investors, mentors, and in-kind incentives of up to AED 250,000.
Hub71, a leading global tech ecosystem based in Abu Dhabi, has introduced 21 new startups to its 15th cohort. These ventures collectively raised more than USD 130 million in funding and represent a broad range of industries, further reinforcing Hub71’s ability to attract high-potential startups worldwide.
- Abu Dhabi continues to establish itself as a preferred global technology hub, with 80 percent of the startups in this cohort headquartered outside the UAE.
- The new additions expand Hub71’s total number of supported ventures to 243, significantly contributing to the technological innovation driving the region’s diversified economy.
Global Reach and Diversity in Cohort 15
Cohort 15’s selection process was highly competitive, with over 1,228 applications from startups across various countries, including the United States, United Kingdom, France, and Germany.
The selection highlights Hub71’s global reach and its focus on bringing international expertise to Abu Dhabi. Seventeen of the chosen startups were founded in global markets, enhancing Abu Dhabi’s reputation as a destination for tech-driven entrepreneurship.
These startups are set to benefit from Hub71’s Access program and its specialized ecosystems, which include Hub71+ Digital Assets and Hub71+ ClimateTech, helping drive Abu Dhabi’s ambition to become a tech hub of global significance.
- Among the notable startups in this cohort is EpiBone, a US-based HealthTech company that has raised USD 43 million (AED 158 million) in funding.
- EpiBone is a leader in regenerative medicine, focusing on bone and cartilage repair using cutting-edge AI and stem cell technology.
- Their participation in Hub71 signals the growing demand for health innovations that cater to the needs of diverse populations.
Another standout is Partanna Oasis, a material science company co-founded by NBA legend Rick Fox, which has raised USD 26 million (AED 98 million). Partanna Oasis is transforming the construction industry by introducing carbon-negative concrete that helps combat climate change.
This startup will join Hub71+ ClimateTech, a specialized ecosystem focused on fostering sustainable solutions to support global environmental goals. Meanwhile, UK-based Greengage, a Web3 FinTech company providing financial solutions for small businesses and family offices, has raised USD 10 million (AED 36 million) and will join the Hub71+ Digital Assets ecosystem, highlighting the variety and innovation present within this cohort.
Supporting Innovation Across Diverse Sectors
Hub71 plays a crucial role in scaling ventures from early-stage development to successful growth. The new cohort includes a mix of startups from various sectors such as FinTech, HealthTech, EdTech, and ClimateTech.
More than half of the selected companies are Seed and Series A startups, emphasizing Hub71’s focus on supporting early-stage ventures. These companies will gain access to Hub71’s extensive network of mentors, investors, and market opportunities, helping them secure commercial deals and attract further investment.
One example is Autone, a US-based logistics startup that integrates artificial intelligence (AI) into inventory management systems. Autone’s AI-driven platform offers real-time data and decision intelligence to help enterprises manage their supply chains more efficiently. The company has already secured USD 4.8 million (AED 17 million) in funding and will join the Access program to further its growth in Abu Dhabi and beyond.
Hub71+ ClimateTech: A Growing Focus on Sustainability
In line with global environmental goals, seven startups from Cohort 15 are joining Hub71+ ClimateTech, a specialized ecosystem designed to support companies that aim to tackle climate change and promote sustainability.
These startups will receive access to tailored resources and support packages to accelerate their mission of creating a more sustainable future. Hub71+ ClimateTech now boasts a total of 12 startups working toward sustainability goals, a testament to Abu Dhabi’s commitment to addressing environmental challenges.
One of the key players in this space is Plenesys, a French startup developing innovative solutions for producing clean hydrogen without CO2 emissions. Using plasma methane pyrolysis, Plenesys provides a more cost-effective and eco-friendly alternative to traditional electrolysis, reducing the environmental footprint of hydrogen production.
The company recently secured USD 3 million (AED 11 million) in funding and will be leveraging Hub71+ ClimateTech’s resources to expand its operations and drive its mission forward.
Partanna Oasis, another company within the ClimateTech ecosystem, is revolutionizing the construction industry with its carbon-negative concrete. The company’s innovative material offers a sustainable alternative to traditional cement, which is known for its high carbon emissions.
By joining Hub71, Partanna Oasis will have the opportunity to collaborate with industry leaders, gain access to investment opportunities, and accelerate the adoption of its green building solutions.
Expanding the Digital Assets Ecosystem
Hub71+ Digital Assets is another specialized ecosystem that continues to grow with the addition of five startups from Cohort 15. This ecosystem is focused on the burgeoning Web3 and digital assets sector, providing companies with the tools and resources needed to thrive in this fast-evolving industry. Hub71+ Digital Assets now includes 22 startups, all contributing to the advancement of blockchain technologies and digital financial services.
Gateway.fm, a Norwegian startup, is one of the prominent companies joining Hub71+ Digital Assets. The company provides distributed blockchain infrastructure and turnkey solutions for enterprises, simplifying the deployment and management of private blockchains.
Gateway.fm has raised USD 6 million (AED 22 million) and is poised to make a significant impact on the digital assets industry by offering scalable, automated solutions that meet the demands of modern businesses.
Chainsight, another addition to the Digital Assets ecosystem, aggregates on-chain and off-chain data, including real-world assets, to provide comprehensive insights through time-series analysis.
The platform’s innovative approach to data aggregation and analysis enables businesses to make informed decisions in the rapidly evolving digital assets space. By joining Hub71+ Digital Assets, Chainsight will be able to leverage Abu Dhabi’s tech ecosystem to further develop its platform and attract investment.
Fostering Entrepreneurial Growth in Abu Dhabi
Through its Access program, Hub71 offers startups in Cohort 15 a wealth of opportunities to grow and scale.
By tapping into Abu Dhabi’s vibrant community of mentors, partners, and investors, these startups can gain access to market opportunities, top talent, and capital, significantly enhancing their prospects of securing commercial deals and attracting further investment.
Startups participating in the program are eligible to receive up to AED 250,000 worth of in-kind incentives and AED 250,000 in cash for equity, with high-performing startups eligible for an additional AED 250,000 top-up in exchange for more equity.
Hub71’s Access program also provides startups with the support they need to navigate the challenges of scaling a business. By connecting them with industry experts and investors, the program accelerates their journey toward becoming market leaders.
Startups in the program have the opportunity to showcase their products and services to a global audience, enhancing their visibility and opening doors to new partnerships and opportunities.
List of Notable Startups in Cohort 15
Several standout startups are joining Hub71’s various programs, each bringing unique innovations and substantial funding:
Access Program
- Autone: This US-based logistics company offers an advanced inventory management system that integrates artificial intelligence (AI) to deliver real-time data and decision-making insights for enterprises. Autone has secured USD 4.8 million (AED 17 million) in funding.
- Add Value Machine: This platform addresses security concerns for enterprise customers by deploying generative AI workloads, ensuring compliance and governance.
- Capcade: This software facilitates secure data sharing and collaboration across organizations and workflows, enhancing operational efficiency.
- EpiBone: A regenerative medicine company specializing in bone and cartilage repair through AI, 3D fabrication, and stem cell technology. EpiBone has raised USD 43 million (AED 158 million).
- Spontivly: This data analytics platform empowers teams to create dashboards without the need for an in-house data engineer.
- Mamotest: An AI platform connecting healthcare facilities with radiologists worldwide, Mamotest ensures accurate cancer screening, diagnosis, and treatment access.
- Wuilt: A no-code solution enabling enterprises to build e-commerce websites in Arabic.
- Enrichly: A self-esteem development platform using AI and gamification to support youth education.
- Vault: This wealth management platform provides AI-driven financial planning and access to alternative investments.
Hub71+ ClimateTech
- AtmoCooling: Specializes in transforming arid regions into arable land for agriculture through droplet size control management.
- Blusink: A nature-based ocean carbon removal company that enhances carbon capture on seafloors by stimulating wild macroalgae calcification.
- Circa Biotech: Converts organic food waste into high-quality animal feed and sustainable aviation fuel.
- Electrogenos: Produces green hydrogen by reducing electrolyzer costs and shortening factory deployment times.
- Partanna Oasis: Known for creating carbon-negative concrete, Partanna Oasis, co-founded by NBA legend Rick Fox, has raised USD 26 million (AED 98 million).
- Plenesys: This French company develops innovative solutions for clean hydrogen production using plasma methane pyrolysis, achieving a 50 percent cost reduction compared to electrolysis.
- Terrax Environmental: Utilizes plastics to transform waste into sustainable construction materials and circular products.
Hub71+ Digital Assets
- Chainsight: Aggregates on-chain and off-chain data, including Real World Assets (RWAs), to provide comprehensive insights through time-series analysis.
- easeflow: Simplifies node setup, operation, and management for blockchain node operators through an AI-enabled management tool.
- Gateway.fm: Offers distributed blockchain infrastructure solutions, automating the deployment of private blockchains for enterprises. This Norwegian startup has raised USD 6 million (AED 22 million).
- Greengage: A UK-based Web3 FinTech company providing accounts and lending services for SMEs and family offices.
- Stables: Offers a mobile-first digital wallet, utilizing stablecoins for cross-border remittances, available in 130 countries.
Hub71’s Impact and Vision
Ahmad Ali Alwan, CEO of Hub71, expressed enthusiasm about the latest cohort, stating, “Cohort 15 is abundant with pioneering startups that are positioned to contribute to Abu Dhabi’s innovation ecosystem. By providing these startups with access to investment opportunities and market reach, Hub71 supports their journey in Abu Dhabi and accelerates their transformative impact globally.”
The presence of these startups aligns with Abu Dhabi’s goals of fostering innovation and supporting the growth of a diversified economy. Over half of Cohort 15’s participants are Seed and Series A startups, reflecting Hub71’s capability to scale ventures from their early stages.
These startups span multiple sectors, including FinTech, ClimateTech, HealthTech, EdTech, and Mobility & Logistics, all poised to enhance the resilience and sustainable growth of Abu Dhabi’s economy.
Looking Ahead
Hub71’s 15th cohort underscores the organization’s success in attracting and nurturing high-potential startups. With a diverse range of international participants and significant funding, these startups will contribute to Abu Dhabi’s growing reputation as a global tech hub.
By offering robust support through its Access Program and specialized ecosystems, Hub71 continues to play a pivotal role in shaping the future of technology and innovation in the UAE and beyond.
Last Updated on September 12, 2024 by Safiya K
