by admin | Jul 30, 2024 | Investment Analysis, Startups News
The Innovative Startups and SMEs Fund (ISSF), Jordan’s largest investment fund, has recently announced a significant increase in its investment in Oasis Ventures II (OVII). Specifically, ISSF has raised its commitment from $3 million to $5 million. This substantial move underscores ISSF’s strong belief in Oasis500’s impressive track record and its potential to further accelerate the success of startups within its portfolio.
ISSF’s Increased Investment: A Vote of Confidence
In detail, Mohammed Al Muhtaseb, CEO of ISSF, expressed his enthusiasm about the expanded investment. He stated, “Oasis500’s role in the MENA region’s early-stage investment scene is pivotal. Established in 2010 as the first accelerator, they helped ignite the Jordanian and MENA startup ecosystems.” Furthermore, he added, “Our increased commitment to OVII reflects our confidence in Oasis500’s success. By providing them with more firepower, we are doubling down on that success, so they can double down on the winners in their portfolio.”
Oasis500’s Track Record and Future Plans
Meanwhile, Luma Fawaz, CEO of Oasis500, highlighted the fruitful partnership between Oasis500 and ISSF. She noted, “Oasis500 and the ISSF share a vision that makes them excellent partners. Through this partnership, we have invested in and supported 36 startups, with 36% of those led by female founders. Our economic impact is significant, having created 300 direct and 1,000 indirect jobs. Notably, for every $1 we invested, we mobilized $5 for our portfolio startups. With the additional investment from ISSF, we will double down on some of our top performers.”
The Impact on the Startup Ecosystem
Consequently, this increased investment from ISSF is expected to bolster Oasis500’s ability to support high-potential startups in the MENA region. By enhancing their resources, Oasis500 will be well-positioned to further its impact, nurturing emerging businesses and fostering innovation across the region.
In conclusion, subscribe and stay tuned for more updates on how this significant investment will shape the future of startups in MENA with our startup newsletter !
by admin | Jul 29, 2024 | Startups News
Watermelon Ecosystem, a pioneering food and beverage (F&B) startup based in the UAE, has successfully closed a $4 million Series A funding round. As a result, this investment raises Watermelon’s valuation to $29 million and grants new investors a 13.8% shareholding in the company. Key investors led the round, with Daman Investments providing essential support as the exclusive Fundraising Advisor.
A Major Milestone for Watermelon Ecosystem
This Series A funding represents a significant milestone for Watermelon Ecosystem, following a successful seed round in 2022. Moving forward, the company will use the new investment to drive growth locally and regionally. Specifically, Watermelon plans to enhance its technology, expand its market presence, and strengthen its leadership in the F&B sector.
Strategic Investment for Future Growth
To achieve its strategic goals, Watermelon will allocate the $4 million investment towards scaling operations, developing advanced technology, and broadening market reach. Consequently, this funding will boost the company’s efficiency, transparency, and sustainability, thereby solidifying its industry leadership.
Omar AlShamsi, CEO of Watermelon Ecosystem, expressed enthusiasm about this new phase of growth. “We are thrilled to have the support of our investors and advisers as we embark on the next stage of our journey,” AlShamsi said. “This investment will enable us to scale our operations, improve our product suite, and continue delivering exceptional value in the F&B sector.”
Daman Investments: A Key Player in Watermelon’s Success
Moreover, Daman Investments played a crucial role in securing this funding round as the exclusive Fundraising Advisor. Their expertise in equity and debt financing has been pivotal for Watermelon Ecosystem’s growth. Therefore, this successful collaboration highlights Daman Investments’ commitment to supporting innovation and entrepreneurship in the UAE.
A Thriving Ecosystem for Innovation
The UAE’s strong infrastructure and forward-thinking policies create a supportive environment for growth and innovation. With substantial investments in technology and a conducive business climate, the region nurtures startups like Watermelon Ecosystem. As a result, the UAE continues to strengthen its position as a hub for entrepreneurial excellence.
Looking Ahead
In conclusion, Watermelon Ecosystem’s recent funding milestone underscores its potential impact on the F&B industry. By leveraging this investment, Watermelon will expand both locally and regionally, driving innovation and contributing to the UAE’s vibrant startup landscape.
Stay tuned for more updates on startup Ecosystem’s journey and the latest developments in the MENA startup scene.