The UAE Ventures Report issued by MAGNITT for the year 2020 stated that the incubator environment for startups in the UAE has witnessed continuous growth over the past few years, as 2019, in addition to the current year, witnessed peak growth.
During that period, the UAE emerged as a strong and resilient ecosystem for entrepreneurship, by creating a collaborative environment and a strong infrastructure, to support and nurture talents across various prominent sectors.
Despite the turmoil that it witnessed at the beginning of this year after the repercussions of the coronavirus crisis, companies in the UAE witnessed the conclusion of a number of large deals this year. What are the most funded companies in the UAE this year?
- EMPG
A group managing real estate sectors in emerging markets in the Middle East and South Asia. Its projects include: Bayut.com in the UAE, Zameen.com in Pakistan, and Bproperty.com in Bangladesh.
EMPG was able to secure $150 million in 2020. - Kitopi
A platform that helps restaurants expand their delivery capacity without requiring to own physical kitchens since it cooks and delivers on their behalf. It runs cloud kitchens in New York, London, Dubai, Abu Dhabi, Kuwait, and Saudi Arabia.
Kitopi was able to secure $60 million in 2020. - SellAnyCar.com
An online car buying service offering free instant car reviews and checkups via the internet with the option to pay electronically.
SellAnyCar.com was able to secure $35 million in 2020. - Pure Harvest Smart Farms
An agri-tech company that manages farms and automatically controls the climate inside them to produce quality fruits and vegetables all year long.
Pure Harvest Smart Farms was able to secure $20.6 million in 2020. - Sehteq
A digital platform for health insurance, offering insurance plans at a lower cost for individuals, SMEs, and big groups.
Sehteq was able to secure $20 million in 2020.
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