With the addition of 21 startups in Cohort 15, Hub71, Abu Dhabi’s global tech ecosystem, now supports 243 ventures overall. These startups will be admitted into Hub71’s Access program and the specialized ecosystems of Hub71+ Digital Assets and Hub71+ ClimateTech after a stringent selection process. The fact that the companies in Cohort 15 have raised a total of USD 134.9 million in funding shows how successful Hub71 has been in drawing high-potential businesses ready to spearhead technological innovation in all of the key areas of Abu Dhabi’s diverse economy.
After reviewing more than 1228 applications, Cohort 15 was chosen, and 17 startups from abroad—including the UK, Germany, France, and the USA—were established. Prominent startups slated to enroll in Hub71’s Access program include the US-based healthtech startup EpiBone, which has raised $43 million (AED 158 million) in capital. A material science startup called Partanna Oasis, which was co-founded by NBA legend Rick Fox and produces carbon-negative concrete, has raised $26 million (AED 98 million) in funding and is about to become a member of Hub71+ ClimateTech. Furthermore, Greengage, a UK-based company that provides Web3 FinTech solutions to family offices and SMEs, has raised $10 million (AED 36 million) in funding and plans to integrate into the Hub71+ Digital Assets specialized ecosystem.
These startups are launching operations in Abu Dhabi as a result of joining Hub71, enhancing the city of the United Arab Emirates’ reputation as a top global hub for technology and a top choice for entrepreneurship.
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.”
Furthermore, the fact that Seed and Series A startups make up more than half of Cohort 15 shows how Hub71 can scale businesses from the ground up. Building the resilience and sustainable growth of Abu Dhabi’s economy will be greatly aided by the seven sectors in which the selected startups operate: FinTech, ClimateTech, HealthTech, EdTech, and Mobility & Logistics. One noteworthy newcomer to the Access program is Autone, a logistics company based in the United States that provides real-time data and decision intelligence for businesses through the integration of artificial intelligence into its inventory management system. The startup has raised funds totaling USD 4.8 million (AED 17 million).
After joining Hub71+ ClimateTech, the seven startups in the cohort will have access to specialized resources and support packages that will help them fulfill their mission of influencing a more sustainable future. Twelve startups from the most recent Hub71+ ClimateTech cohort are well-positioned to further the country’s goals for sustainability and net-zero emissions. One of the startups is Plenesys, a French firm that develops cutting-edge methods for producing clean hydrogen without emitting CO2. The startup does this by pyrolyzing natural gas or biomethane with plasma methane, which is 50% less expensive than electrolysis. Recently, Plenesys was able to raise $3 million (AED11 million).
Five startups, meanwhile, are scheduled to become members of Hub71+ Digital Assets, a specialized ecosystem aimed at maximizing Web3 and digital asset growth potential. As a result, there are now 22 startups overall in the specialized ecosystem. One of the new startups is Gateway.fm, based in Norway. It is a distributed blockchain infrastructure that offers businesses turnkey solutions for implementing private blockchains and related infrastructure and automates the process. The business has raised 22 million AED, or $6 million.
Startups can access a dynamic network of mentors, partners, and investors within Abu Dhabi’s thriving technology ecosystem by joining the Hub71 “Access” and Hub71+ specialist ecosystems. This will provide them with access to top talent, capital, and market opportunities, greatly increasing their chances of securing deals, drawing in investment, and propelling market growth. Additionally, through a SAFE note, startups will receive up to AED250,000 in in-kind incentives and AED250,000 in cash for equity. After the program ends, high-performing startups will also be qualified for a top-up of up to AED 250,000 in exchange for more equity.
