– Seven tech startups each receive USD150,000 from Oraseya Capital through the SANDBOX accelerator program, which concluded its fourth cohort.

– The program attracted over 1,500 applications and is part of Oraseya Capital’s efforts to support the digital economy and foster SME growth in Dubai.

– The fifth edition of SANDBOX, already with over 1,100 applications, will start in September 2024, continuing Oraseya Capital’s commitment to advancing innovative tech startups.

The SANDBOX accelerator program has concluded its fourth cohort, announcing that seven technology startups have each received $150,000 in investment from Oraseya Capital, according to a statement.

The program, which attracted over 1,500 applications, is dedicated to fostering the growth of tech startups and is part of Oraseya Capital, the venture capital investment arm of the Dubai Integrated Economic Zones Authority (DIEZ).

Hassan Waheed, Vice President of Corporate Finance and Treasury at DIEZ and Partner at Oraseya Capital, said: “We are proud of the milestones that Oraseya Capital has achieved in startup investments within just a few months of its launch in the end of 2023.

“The high level of interest in its SANDBOX programme, as well as the many innovative and creative ideas and ambitious projects, reflect the long-term importance of this strategic initiative in promoting the growth of small and medium-sized enterprises in various sectors.

“We are committed to supporting the digital economy sector in the Emirate of Dubai and contributing to the goals of the Dubai Economic Agenda D33,” Waheed added.

“Oraseya Capital has invested in startups that have proven high growth opportunities, characterized by creative ideas and innovative visions. Seeking to change the reality and future of the advanced and modern technology sector.

“We look forward to realizing new levels, all in line with our efforts towards enhancing the competitiveness of Dubai in terms of attracting and financing technology startups, bolstering its stellar reputation as a destination for global investments,” he added. 

Waheed said that in addition to these new investments, Oraseya Capital has strengthened its efforts by leading an investment round in Growdash, a Dubai-based SaaS platform that specializes in empowering the marketing and operations efforts of restaurants, as well as building, implementing, and managing their growth strategies through digital sales channels.

The startups funded in the fourth cohort include: Qureos: A recruitment tech startup that matches talent with jobs 10 times faster; Herogo: A sustainable food tech subscription platform for fruit and vegetables; Lisan: A deeptech generative AI startup specializing in Arabic linguistics; Sthrive: A B2B SaaS platform designed to boost sales and employee performance for retailers; Zoya: A fintech startup making halal investing easy and accessible for Muslims worldwide; JobEscape: A productivity startup enhancing freelancer and employee skills with AI tools; Opteam: Utilizing AI-driven optimizations for project management in the construction sector.

The fifth edition of the SANDBOX program, which has already received over 1,100 applications, is set to begin in early September 2024.