Hub71’s New Cohort Has Raised Over AED231million in Funding to Develop Tech in the UAE

Hub71’s New Cohort Has Raised Over AED231million in Funding to Develop Tech in the UAE

Hub71, Abu Dhabi’s global tech ecosystem, has accepted 16 startups to join its growing community as part of accelerating the Emirate’s position as a leading innovation hub. By launching operations in Abu Dhabi, the new startup cohort, which has already raised more than AED 231million in funding, will have the opportunity to develop advanced technologies and gain access to the market, investment, and talent Hub71 provides.

Capitalising on current market trends, the accepted cohort includes early-stage startups with diverse representation from leading international tech hubs including the UK, USA and South Korea. Among the cohort is Pakistan’s first digital bank, TAG; UAE-based Trade Capital Partners, a platform that boosts access to working capital for startups and small to medium-sized enterprises in emerging markets; and Zywa, the first neobank for teenagers in the Middle East and North Africa region. Also accepted in the cohort is UAE-founded Letswork, an app that allows members to book workspaces and work remotely from hotels, cafes, co-working spaces and other unique venues, as well as Ostaz which offers a private tutoring platform for students to accelerate academic progress.