Hub71, Abu Dhabi’s global tech ecosystem, has welcomed 25 new startups as part of its latest cohort. The selected startups will enter Hub71’s ‘Access’ program, and specialist ecosystems Hub71+ Digital Assets and Hub71+ ClimateTech, bringing the total number of startups currently in Hub71’sprograms to 223. Hub71’s Cohort 14 has raised a total of over USD 122 million in funding, with each startup raising USD 5 million on average.
Hub71 continues to attract a diverse range of international tech startups to Abu Dhabi, receiving over 1200 applications, with more than 65% from international markets. The onboarded startups hail from countries across the region, including the UAE, Egypt, and Saudi Arabia, as well as ventures from the USA, UK, Canada, Singapore, Sweden, New Zealand, Spain and South Korea,reinforcing Abu Dhabi’s global appeal as a leading tech hub and launchpad for startup growth. In addition, 64% of the cohort are Seed and Series A, reflecting Hub71’s ability to scale high-potential startups from early stages of growth. Operating in nine sectors, including FinTech, ClimateTech, HealthTech, EdTech, and Mobility &Logistics, the startups will play a vital role in future-proofing key sectors of Abu Dhabi’s economy.
Five startups in the cohort will join Hub71+ ClimateTech,representing the first batch of startups to join the specialist ecosystem dedicated to advancing technologies that drive decarbonization and support a net-zero future.Startups in Hub71+ ClimateTechwill benefit from a broad network of leading regional and global corporations, investment partners and Abu Dhabi’s progressive regulatory environment to globally scale their climate technologies. Among the startups is Canadian-headquartered, Basetwo, that has raised $6 million in funding and provides an AI co-pilot platform designed for engineers offering tactical recommendations to optimize production yield to reduce cycle time and costs, without compromising product quality. Additionally, Swedish startup Graphmatech has raised USD 10 million and employs cutting-edge graphene technology to develop solutions for the hydrogen economy and high-performance batteries.
Similarly, Hub71+ Digital Assets, the specialist ecosystem focused on unleashing the growth potential of Web3 and digital assets, continued to witness significant growth with the onboarding of nine new startups, increasing the total number of startups in the specialist ecosystem to 17. Notable additions joining the specialist ecosystem include Bit2Me,an industry-leading crypto brokerage in Europe, which has raised USD 15 million and Immersve, an end-to-end solution for Web3 wallets, to support centralized and decentralized payment experiences which has raised $9 million.
Ahmad Ali Alwan, CEO of Hub71, said: “As Abu Dhabi continues to empower innovative tech companies, Hub71’s revamped programs and specialist ecosystems provide startups with the resources they need to succeed in a market embracing transformation and visionary founders. Cohort 14 is particularly noteworthy. The cohort’s startups’ track record of successful fundraising emphasizes the strong growth potential Hub71 programs aim to unlock. Furthermore, this cohort also includes the first startups joining the Hub71+ ClimateTech specialist ecosystem, which aims to develop solutions aimed at addressing global climate challenges and supporting the UAE’s sustainability ambitions.”
By joining Hub71’s ‘Access’ program, Hub71+ ClimateTech or Hub71+ Digital Assets, startups will benefit from up to AED 250,000 worth of in-kind incentives and AED 250,000 in cash for equity. High-performing startups will also be eligible to receive a top-up of up to AED 250,000 in exchange for additional equity, after one year. Startups will also receive expert mentorship,tailored advice and will be able to tap into Hub71’s growing network of market and capital partners to unlock growth opportunities.
