Hayi Secures Undisclosed Seed Round Funding
The capital raised will fuel the expansion of operations and extend the neighborhood platform's presence across new markets.
UAE-based social networking app Hayi has concluded an undisclosed seed funding round from Plus VC, a venture capital firm specializing in early-stage and tech-enabled startups in the MENA region.[1]
Additionally, several regional angel investors participated in the round.
Hayi, which tries to foster a secure and dynamic sense of community among neighbors, provides a platform for individuals to connect with those in their immediate vicinity.
Founded in 2020 by Chris Darnell and Rene Morgan, Hayi facilitates various activities such as sharing local recommendations, staying updated on neighborhood news, reuniting lost pets with their owners, facilitating local commerce, and organizing community events.
The capital raised will fuel the expansion of operations, intensify marketing efforts, and extend Hayi's presence not only within the UAE but also across new markets.
In 2021, the startup secured a pre-seed investment of $325,000 from Sarya Holdings and Falak Startups.
Taking inspiration from successful neighborhood apps like Nextdoor in the USA and Danggeun Market in South Korea, Hayi emphasizes trust and accountability by verifying the identity, residence, and neighborhood of its members.