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Dubai as a start-up haven explained- Deals made and in the making

Dubai and the UAE are raising the stakes when it comes to their startup eco-systems: Start-up up and away

Washmen, a Dubai-based startup streamlining dry cleaning and laundry services, has successfully raised $6.2 million in a Series B round Altibbi is a digital health platform that provides access to health advice 24/7, via website or mobile applications, and has raised a total of $8.5 million in funding The number of equity deals to UAE-based tech startups reached an all-time high in 2018, up nearly 200% from 2015, according to CBinsights

In 2017, Sheikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai, announced the Dubai Pulse platform, calling it the “backbone of Dubai’s transformation and shift towards smart technologies,” ordering all government departments to begin populating the platform with their data. This platform is proving very useful for entrepreneurs to conduct important research in the Emirate before launching their ventures.

New company news coming out of Dubai paints a thriving environment for the Emirate’s efforts to host, launch and expand newly formed start-ups.

We also take a look at the top 5-year-old tech startups creating the most impact and continuing to raise funds for their operations.

Read: This startup offers you an alternative to waiting for your ordered parcel!

Recent start-up news

Washmen, a Dubai-based startup streamlining dry cleaning and laundry services, has successfully raised $6.2 million in a Series B round. The new capital infusion will be used to expand the startup’s presence locally and drive its growth. Washmen currently serves over 30,000 individual customers and processes over 300,000 items a month, with two current facilities (its latest is a new 300,000 sq. ft. facility in Dubai) to both wash and fold, as well as clean and press items.

Dubai SME, the agency of the Department of Economic Development (DED) mandated to develop the small and medium enterprise (SME) sector, has teamed up with The Co-Working PopUp, one of the first incubators and co-working spaces to be certified by Dubai SME, to take 10 UAE-based entrepreneurs to the incubator’s London offshoot for a five-day program. Scheduled to take place on Aug. 19 -23 at The Co-Working PopUp in Dalston, the program is aimed at helping local startups and solopreneurs think and plan globally as well as partner and learn from their peers in London.

AMeinfo reported that Nana Direct, the online grocery startup launched in Saudi in 2016, has now raised $6.6 million in its Series A round of funding. 

Exclusive Interview: Hub71 and MITEF Pan Arab discuss partnership and Abu Dhabi startup scene

5 funded healthcare startups now have their headquarters in the United Arab Emirates

Altibbi is a digital health platform that provides access to health advice 24/7, via website or mobile applications. The company has raised a total of $8.5 million in funding.

Health at Hand became the first healthcare provider to be licensed by the Dubai Health Authority to provide telehealth services. It offers customers access to video consultations with regional doctors using an app to avoid waiting times, giving patients access to quality healthcare from the comfort of their own home. The company has received $4.1 million in funding since 2015, according to Crunchbase.

Healthigo’s provides easier experiences for both care seekers and providers by connecting patients and care seekers to doctors, hospitals, clinics, medical centres, as well as insurance providers; and the other way around. It has raised $1 million in angel funding.

Meddy provides more transparent information about physicians, allowing to choose the right doctor by browsing doctor profiles and patient reviews and clinic locations. It has raised nearly $79K in venture funding

NewBridge Pharmaceuticals, develops and sells oncology and supportive care products. Back in 2010, NewBridge raised a $12 million Series B funding round.

Read: UAE Careers startup Oliv gets $2 million funding

Who are the most well funded tech start-ups in the UAE?

The United Arab Emirates (UAE) is making headway as a significant incubator of technology startups. Souq.com (acquired by Amazon in 2017) and the ride-hailing platform Careem (acquired by Uber in 2019) are valued at over $1B each.

UAE-based e-commerce company, Noon.com, received $1B in funding in November 2016.

Over 50% of the top 10 most well-funded tech startups in the UAE since 2015 are in e-commerce.

2018 was the first year on record in which all of the UAE’s top ten most well-funded tech startups had each raised a total of $10M+.

The number of equity deals to UAE-based tech startups reached an all-time high in 2018, up nearly 200% from 2015, according to CBinsights.

In 2018, the UAE-based real estate website PropertyFinder raised a $120M mega-round from US-based General Atlantic and Sweden’s Vostok New Ventures. PropertyFinder is the second most well-funded tech startup in the UAE as of 8/20/19.

Fetchr delivers packages to a location by using the receiver’s smartphone GPS instead of an address. The company has been dubbed “the next desert unicorn.” Fetchr has raised $52 million across 4 rounds of funding, and the company will reportedly raise a large Series C round in 2019. The company is also looking ahead to autonomous drone delivery services