Flat6Labs, a Cairo-based seed and early-stage venture capital company, and DisruptAD, the venture capital platform of Abu Dhabi's holding company ADQ, have selected 10 start-ups under their Ignite programme.
Representing the third cohort of the programme, the companies — selected from a pool of more than 700 applicants from across the globe — will receive seed funding and mentorship from global experts.
“This currently stands as our Ignite programme’s largest cycle yet, with 10 start-ups having been selected — a testament to the popularity and value that it delivers,” Ryaan Sharif, general manager at Flat6Labs UAE, said in a statement.
“Based on the outcomes of previous cycles, we are confident that by grooming these new start-ups we will springboard their success, and enable them to become valuable contributors to the entrepreneurship ecosystem and economy in the UAE.”
Launched in March last year, Ignite is a seed programme committed to support nearly 60 start-ups in Abu Dhabi over three years. So far, 17 start-ups have graduated from the programme and have cumulatively raised Dh14.7 million ($4m) in funding.
Of the 10 start-ups receiving investments in this new cycle of the programme, seven are home-grown UAE companies while the other three were founded in Poland, Bahrain and Turkey.
The international start-ups will establish operations in Abu Dhabi and have their headquarters there, Flat6Labs said. This is in line with the programme’s objective of establishing Abu Dhabi as a global entrepreneurial hub and centre for innovation.
“The solutions and services of these 10 organisations hold immense value for their target segments and the UAE economy at large. With the expert mentorship and guidance … these start-ups have the ability to unlock their full potential, fine-tune their value proposition and rapidly scale their operations,” Mr Sharif said.
Selected start-ups
DarDoc: The company allows patients to receive simple to complex care without visiting a hospital by enabling them to hire a nurse or a physiotherapist on demand.
Digital First AI: It uses artificial intelligence to help brands create and execute marketing strategies.
Fitlov: A marketplace providing fitness and wellness trainers on-demand in the UAE.
FundoMundo: An online, live-education marketplace connecting teachers with learners aged 3 to 18.
Hulexo: Helps retailers eliminate stock-outs and automatically deploy highly personalised marketing campaigns using AI.
Lune: Enables banks, FinTechs and retailers to serve customers by unlocking insights into customer spending, based on automated analysis of raw transaction data.
Makan: A company pioneering the concept of furniture-as-a-subscription, enabling consumers to rent furniture monthly.
Reach ChannelPro: A platform that makes it easy for brand owners and their distributors to increase their indirect sales.
Savii: Promotes financial responsibility and independence among teenagers by offering a debit card and a banking app.
The Scalable CFO: Simplifies finance operations for small businesses by matching them to part-time chief financial officers from a pool of more than 6,000 professionals.
