Hub71 Strengthens Abu Dhabi's Thriving Tech Ecosystem with Its Latest Cohort - Middle East Business News and Information
Abu Dhabi, UAE – February , 2024: Hub71, Abu Dhabi's global tech ecosystem, has welcomed 27 startups as part of Cohort 16 across Hub71's three programs, Access, Hub71+ ClimateTech and Hub71+ Digital Assets. This new addition increases the total number of ventures supported by Hub71 to 357. The latest cohort includes startups across key priority sectors, reinforcing Hub71's commitment to diversifying Abu Dhabi's economy through technology and innovation.
Collectively, Cohort 16 startups have raised over USD 145 million (AED 532 million) in funding, averaging USD 4.9 (AED 18 million) million per startup. This achievement reflects Hub71's track record in attracting high-potential companies that advance technological innovation across Abu Dhabi's priority sectors. By joining Hub71, these startups are establishing their operations in Abu Dhabi, gaining access to a robust network of capital, mentorship, and resources to scale their businesses and drive impactful growth.
Cohort 16 was selected from over 1,300 applications, with 63% of chosen startups headquartered in leading technology markets such as the USA, UK and Germany. Among the notable additions to Hub71's Access program is Vivan Therapeutics, a UK-based precision medicine company pioneering cancer research, using AI and fruit fly models to identify personalized treatments, that has raised USD 10 million (AED 36 million) in funding.
Meanwhile, Theion, a German startup developing sustainable sulfur-based batteries that store up to three times more energy than traditional batteries will join the Hub71+ ClimateTech program. South Korean startup Redbrick, a cloud-based 3D creation engine that uses AI and blockchain, has raised USD 16.3 million (AED 59.8 million) in funding and will join the Hub71+ Digital Assets program.
Furthermore, one in three startups in the cohort is based in the UAE, showcasing the nation's growing status as a global entrepreneurship hub. Notable homegrown startups include Qashio, an award-winning spend management platform that has raised USD 10 million (AED 36 million), and Switch Foods, a FoodTech company offering locally produced, affordable plant-based meats. Switch Foods has raised USD 12.5 million (AED 45.9 million) and launched Abu Dhabi's first plant-based meat production facility, setting a new standard for sustainable food innovation.
Ahmad Ali Alwan, CEO of Hub71, said: 'Cohort 16 reinforces the global confidence in Hub71 as a launchpad for transformative ideas from Abu Dhabi. The selection process is highly competitive, reflecting the exceptional caliber of startups in our ecosystem. These companies are advancing innovation across key tech sectors while strengthening Abu Dhabi's position as a global tech hub.'
Additionally, more than half of Cohort 16 consists of Seed and Series A startups. The selected startups operate in nine sectors including FinTech, ClimateTech, HealthTech, EdTech, and Mobility & Logistics, and will play a crucial role in driving the growth of Abu Dhabi's economy.
By joining Hub71 'Access' and Hub71+ programs, startups will be able to tap into a vibrant community of mentors, partners, and investors within Abu Dhabi's technology ecosystem. Gaining access to market opportunities, top talent, and capital significantly enhances startups' prospects of securing commercial deals, attracting investment, and driving market growth.
The 27 startups selected to join Hub71's Cohort 16 include:
Access Program: Aurem is a central operating system for workplace saving and wealth providers —optimising operations and innovating products in a single configurable platform. Cambio ML provides the 'AI data science agent' for enterprises, aggregating and cleaning messy data from data silos. Desert Farms is a science-backed D2C product using camel milk proteins to make a near-identical baby formula to breastmilk. Esports XO connects gamers with tournaments and new games while helping publishers distribute games and telecoms build engaged communities. Fundbot Technologies is a B2B supply chain financing solution that enables banks, buyers, and sellers to connect automating lending and payments. Hotdesk is the Airbnb for Offices, with 2,000+ spaces in 73+ countries. They provide an all-in-one platform offering workspace optimization and hybrid work management software to help coworking spaces and corporates navigate the future of work. Mithryl's AI platform helps industrial companies automate processes by unifying fragmented systems into context-aware workflows that drive faster, smarter decisions. Nodeshift is a decentralized, no-code AI cloud platform that enables one-click deployment of AI agents and LLMs, providing secure, private, and affordable compute without centralized control or complexity. Onloop an applied AI lab, obsesses over team productivity – powering effortless goal alignment and feedback systems for managers while augmenting human capabilities through mobile-native, agentic workflows. Qashio is a B2B financial management platform offering advanced expense management, customizable SaaS tools, and reward program. Raintech is an operating room voice assistant that improves the quality of care and surgical outcomes by enabling clinicians to focus on patients rather than documentation and admin tasks. Simpleem is Behavior-Analysis AI that predicts human actions with unmatched accuracy and provides tailored guidance on leveraging behavior to improve concrete business outcomes. Skipr is a sovereign agent-centric VPN that delivers the next generation of privacy and security in the age of AI. Taxo integrates with electronic health records (EHRs) to automate medical billing and coding. Its AI-powered solution reduces the time and cost of claims processing by >90%, enabling providers to focus on patient care rather than administrative tasks. Vivan Therapeutics' TuMatch software leverages a proprietary data set and AI/ML to enable rapid, personalized cancer treatment direction. Watermelon Ecosystem is an all-in-one platform that connects F&B suppliers with outlets through a marketplace and procurement system. xMap is a platform that uses AI to transform geospatial data, such as maps, satellite images, and GPS information, into real-time insights for businesses.
Hub71+ ClimateTech: Airmo delivers actionable, accurate, real-time methane insights and environmental intelligence to the energy sector, regulators, and impact investors. New Path Bio uses precision fermentation to produce nutritious, health-promoting proteins from microbes, eliminating the need for animals, land, water, or climate dependence. Orbillion Bio is a B2B cultivated beef company making tasty, non-GMO beef at commercial scale and cost parity by leveraging advanced computational models and strategic partners. SwitchFoods is a FoodTech startup focused on innovating and producing deliciously healthy, nutritious, and sustainable plant-based meat alternatives tailored to regional tastes and cooking habits. Theion is a company that develops sustainable sulfur-based batteries that are eco-friendly, cost-effective, and store up to three times more energy than traditional batteries.
Hub71+ Digital Assets InvoiceMate is a Blockchain & AI powered platform bridging conventional businesses with crypto liquidity. Redbrick is a cloud-based game and metaverse engine using blockchain and AI to streamline creation and distribution for all skill levels. Rilla Network is a decentralized infrastructure that unlocks the hidden potential of live streaming ecosystems while delivering exponential savings. Sustainable Bitcoin Protocol enables institutional investors to embed verifiable clean energy into their Bitcoin holdings—transforming Bitcoin's distributed energy demand into a catalyst for the global energy transition. 1Money is developing the world's first payment network exclusively designed for stablecoins, and specifically engineered to be the fastest, cheapest, and most compliant.
About Hub71:
Hub71 is Abu Dhabi's global tech ecosystem that enables founders to build globally enduring homegrown tech companies in any sector by providing access to global markets, a capital ecosystem, a global network of partners, and a vibrant community filled with highly skilled talent governed by forward-thinking regulation.
Backed by the Government of Abu Dhabi and Mubadala Investment Company, Hub71 is growing its vibrant community of tech startups, investors, government, and corporate partners to ensure the availability of investment, commercial activities, and incentives from the public and private sectors. Through Hub71's entrepreneurial infrastructure, value-add programs, enabling services and support packages, founders can build, and scale widely adopted technologies with purpose and impact. Hub71 is on a mission to introduce new minds and technologies to Abu Dhabi, finding new ways to build globally enduring technology companies and sustain the nation's continuous economic development.
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