Oraseya Capital Boosts Seven Tech Startups with Strategic Investment Through SANDBOX Accelerator Programme
The SANDBOX Accelerator programme, an integral part of Dubai’s thriving tech ecosystem and spearheaded by Oraseya Capital under the Dubai Integrated Economic Zones Authority (DIEZ), proudly announces the successful completion of its fourth cohort. In a significant move to bolster technology startups, seven promising ventures have been chosen to receive funding of AED 570,000 (USD 150,000) each. This initiative underscores the unwavering commitment of Oraseya Capital to foster innovation and support the digital economy in Dubai, in alignment with the ambitious Dubai Economic Agenda D33.
The latest batch of startups was selected from a highly competitive pool of over 1,500 applicants, showcasing the program’s growing stature and the vibrant entrepreneurial spirit within the technology sector. “Our investments reflect our confidence in these startups, which embody creativity, innovation, and the potential to revolutionize their respective industries,” remarked Hassan Waheed, Vice President of Corporate Finance and Treasury at DIEZ and Partner at Oraseya Capital.
Oraseya Capital’s latest venture includes leading a significant investment round in Growdash, a Dubai-based SaaS platform that enhances marketing and operational strategies for restaurants. This is in addition to contributing to investment rounds for other innovative platforms such as RemotePass, an HR tech solution for managing remote teams, and iSchool, an EdTech initiative focusing on digital upskilling for youth.
The fourth cohort of the SANDBOX Accelerator programme highlighted diverse tech ventures, including Qureos, a recruitment technology startup; Herogo, a sustainable food tech subscription service; Lisan, specializing in Arabic linguistic AI; Sthrive, a sales-enhancing SaaS for retailers; Zoya, a fintech platform for halal investing; JobEscape, offering productivity tools for freelancers and employees; and Opteam, applying AI to optimize project management in construction.
The participating startups lauded the SANDBOX programme for its structured approach and invaluable mentorship. “SANDBOX has equipped us with the tools and knowledge to propel our startup forward,” shared Saad Malik, Co-founder and CEO of Zoya. Similarly, Alex Epure, CEO and Co-founder of Qureos, praised the programme for its exceptional value and the prospect of future investment support from Oraseya Capital.
SANDBOX accelerates the growth of technology startups through a 5-month, two-phased programme, blending rigorous evaluation with hands-on mentorship from industry leaders. Participating startups gain access to over 50 hours of workshops, legal compliance guidance, marketing strategies, and financial analytics insights, coupled with over 30 hours of mentoring and networking opportunities with regional investors.
With more than 1,100 applications already received, the anticipation for the fifth edition of the SANDBOX programme, set to commence in September 2024, speaks volumes about its impact and the thriving tech startup ecosystem in Dubai. Entrepreneurs looking to scale their technology startups and benefit from Oraseya Capital’s investment acumen are encouraged to apply for the upcoming edition to be part of Dubai’s ambitious growth story.
