Hub71 Welcomes 21 New Startups, Attracting $130 Million in Investments
Hub71, the global technology ecosystem based in Abu Dhabi, has announced the addition of 21 new startups to its 15th cohort, bringing the total number of startups supported by Hub71 to 243. These new companies have collectively raised over $130 million in funding, with 80% being based outside the UAE, showcasing the global diversity attracted by Hub71 to Abu Dhabi.
Rigorous Selection of Leading Startups
The startups in this cohort were chosen from over 1,228 applications to join Hub71, highlighting the selective and stringent process adopted to attract high-potential companies. Seventeen of these companies are headquartered outside the UAE, in countries like the United States, United Kingdom, France, and Germany.
One of the standout startups joining Hub71’s Access program is EpiBone, a US-based health tech company that has raised $43 million in funding. Meanwhile, Partanna Oasis, a carbon-negative concrete company co-founded by NBA legend Rick Fox, will be joining the Hub71+ ClimateTech ecosystem. The company has secured $26 million in funding and is known for its innovative solutions in reducing carbon footprints and supporting sustainability.
Greengage, a UK-based fintech company that provides solutions for SMEs and family offices, will also be joining the Hub71+ Digital Assets ecosystem, having raised $10 million in funding.
Hub71’s Support for Technological Innovation in Abu Dhabi
Ahmed Ali Alwan, CEO of Hub71, stated, “The 15th cohort of startups joining Hub71 demonstrate leadership and the ability to make a significant impact on Abu Dhabi’s technology ecosystem. Our aim is to accelerate their growth and expand their global reach by providing them with investment opportunities and enabling them to access international markets.”
Through Hub71’s support, these startups will establish their operations in Abu Dhabi, further strengthening the capital’s position as a global tech hub. They will also have access to a robust support ecosystem that includes investors, strategic partners, and specialized resources to help accelerate their growth and expand their businesses.
Startups in the Hub71+ Specialized Ecosystems
Seven startups from the 15th cohort are set to join the Hub71+ ClimateTech ecosystem, which focuses on supporting innovations that enhance sustainability and reduce carbon emissions. Additionally, five startups will join the Hub71+ Digital Assets ecosystem, specializing in developing Web 3.0 and digital asset technologies.
One of the notable companies joining this ecosystem is Plenesys, a France-based startup developing solutions for clean hydrogen production through plasma methane gas decomposition. This technology reduces the cost of hydrogen production by 50% compared to traditional electrolysis, and Plenesys has raised $3 million in funding.
Another addition is Gateway.fm, a blockchain infrastructure company based in Norway, which offers ready-to-use solutions for companies to deploy their own blockchain technologies. The company has attracted substantial funding to support its global expansion.
Enhancing Abu Dhabi’s Position as a Leading Innovation Hub
With this new cohort of startups, Hub71 continues to solidify Abu Dhabi’s position as a global leader in technological innovation. These companies will play a pivotal role in advancing key tech sectors within Abu Dhabi’s diverse economy, including fintech, edtech, climate tech, mobility, and logistics.
By offering comprehensive support that includes tailored mentorship, investment opportunities, and financial incentives of up to AED 500,000, Hub71 aims to empower startups to succeed in the competitive tech landscape. High-performing startups may also qualify for additional support of up to AED 250,000 in exchange for equity upon completing the program.
Hub71 remains committed to expanding its technology ecosystem and attracting startups with the potential for global growth, thereby positioning Abu Dhabi as a preferred destination for entrepreneurs and investors across various tech sectors.
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