The startups that form part of Abu Dhabi’s startup ecosystem, Hub71, have raised $134.9 million in funding.
As part of its latest cohort, Hub71 has welcomed 21 new startups, bringing its total supported ventures to 243. These companies will join Hub71’s Access programmes and the specialist ecosystems of Hub71+ Digital Assets and Hub71+ ClimateTech.
Cohort 15 was selected from over 1,228 applications, with 17 startups originating from international markets such as the USA, United Kingdom, France, and Germany.
Among the notable startups joining Hub71’s Access program are EpiBone, a US-based HealthTech company that has raised $43 million, and Partanna Oasis, a material science company co-founded by NBA legend Rick Fox, which has raised $26 million. Additionally, UK-based Greengage, which offers Web3 FinTech solutions for SMEs and family offices, has raised $10 million and will join the Hub71+ Digital Assets ecosystem.
Ahmad Ali Alwan, CEO of Hub71, said: “Cohort 15 is abundant with pioneering startups that are positioned to contribute to Abu Dhabi’s innovation ecosystem. By providing the startups with access to investment opportunities and market reach, Hub71 is supporting the founders’ journey in Abu Dhabi and accelerating their transformative impact globally.”
More than half of Cohort 15 consists of Seed and Series A startups, showcasing Hub71’s ability to scale ventures from early stages. These startups operate in sectors including fintech, climate tech, healthtech, edtech and mobility and logistics.
Additionally, five startups will join Hub71+ Digital Assets, focused on the growth potential of Web3 and digital assets, bringing the total in this ecosystem to 22. Notable among these is Norway-based Gateway.fm, a distributed blockchain infrastructure company that has raised $6 million.
Startups will also receive up to Dh 250,000 in in-kind incentives and Dh250,000 in cash for equity through a SAFE note, with high-performing startups eligible for an additional Dh250,000 in exchange for more equity upon completing the programme.
