Hub71 Welcomes 15th Cohort: 21 Startups Raising $134.9 Million

by | Sep 16, 2024 | Startups News | 0 comments

Hub71, Abu Dhabi’s premier global tech ecosystem, has proudly welcomed 21 new startups into its 15th cohort. Consequently, this expansion brings the total number of supported ventures to an impressive 243. Collectively, these startups have raised a remarkable $134.9 million, thereby further strengthening Abu Dhabi’s reputation as a leading global tech hub.

A Diverse Global Selection

The latest cohort was meticulously chosen from over 1,228 applications. Interestingly, this group includes 17 international startups from countries such as the USA, UK, France, and Germany. Moreover, these companies are celebrated for their innovative approaches and significant growth potential. Among the notable additions are:

  • EpiBone, a US-based HealthTech firm, which has successfully raised $43 million. This company is at the forefront of pioneering tissue engineering solutions.
  • Partanna Oasis, a ClimateTech company co-founded by NBA legend Rick Fox. This firm has secured $26 million for its cutting-edge carbon-negative concrete technology.
  • Greengage, a UK-based Web3 FinTech company with $10 million in funding. Notably, this firm is set to join Hub71+ Digital Assets.

By establishing operations in Abu Dhabi, these startups will undoubtedly contribute to the city’s burgeoning tech ecosystem, thereby reinforcing its status as a top destination for entrepreneurial growth.

Driving Innovation Across Multiple Sectors

The 21 startups in this cohort span seven critical sectors, including FinTech, ClimateTech, HealthTech, EdTech, and Mobility & Logistics. As a result, their work aligns seamlessly with Abu Dhabi’s strategic goals for economic development and sustainability. Importantly, over half of the startups in Cohort 15 are at the Seed and Series A stages. This fact highlights Hub71’s significant role in nurturing and scaling early-stage ventures.

Key Sectors in Cohort 15:

  • FinTech: For instance, Greengage is leading the charge in digital assets, which further supports Abu Dhabi’s growing influence in this field.
  • ClimateTech: Additionally, seven startups, including Partanna Oasis, will be joining Hub71+ ClimateTech. These startups focus on delivering innovative sustainability solutions.
  • HealthTech: Furthermore, EpiBone’s advanced technologies address critical health challenges on a global scale, enhancing Abu Dhabi’s health innovation sector.
  • Mobility & Logistics: Not to mention, Autone, a US-based logistics company, has raised $4.8 million to improve inventory management systems.

Hub71’s Expanding Influence

Hub71 continues to play a pivotal role in supporting high-potential startups. By providing them with access to valuable investments and essential resources, Hub71 is effectively accelerating their global impact.

Ahmad Ali Alwan, CEO of Hub71, remarked:

“Cohort 15 features an array of pioneering startups that are well-positioned to make significant contributions to Abu Dhabi’s innovation ecosystem. By facilitating investment opportunities and expanding market reach, Hub71 is accelerating their transformative impact on a global scale.”

Additionally, Hub71+ ClimateTech now supports a total of 12 startups committed to advancing sustainability. One of the newest additions is Plenesys, a French company that recently raised $3 million for its CO2-free hydrogen solutions.

Moreover, five startups will join Hub71+ Digital Assets, increasing the total number in this sector to 22. This expansion underscores Abu Dhabi’s growing leadership in digital transformation and blockchain technologies.

Conclusion: Abu Dhabi’s Growing Global Influence

In conclusion, the inclusion of 21 startups in Hub71’s 15th cohort further illustrates Abu Dhabi’s expanding influence as a global tech hub. With companies spanning diverse sectors such as ClimateTech and HealthTech, Hub71 is significantly contributing to the city’s economic resilience and sustainable growth.

For the latest updates on Hub71 and Abu Dhabi’s tech scene, be sure to visit kzaad.com.

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