Hub71 Welcomes Cohort of 25 Startups from 11 Countries
Startups joining Hub71's programs will benefit from incentives, cash investments, and mentorship.
Hub71, the global tech ecosystem based in Abu Dhabi, has welcomed its 14th cohort, comprising 25 startups from 11 different countries with a collective funding of over $122 million, averaging $5 million per startup, as per an emailed press release to Inc. Arabia.
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These startups will join Hub71's 'Access' program, alongside specialist ecosystems Hub71+ Digital Assets and Hub71+ ClimateTech, marking a total of 223 startups currently enrolled in Hub71's programs.
Hub71 has received over 1200 applications, with more than 65% originating from international markets. They represent countries across the globe, including the UAE, Egypt, Saudi Arabia, USA, UK, Canada, Singapore, Sweden, New Zealand, Spain, and South Korea, with 64% of the cohort at Seed and Series A stages.
These startups are operating across nine sectors, encompassing fintech, healthtech, Edtech, climatetech, mobility and logistics.
Five startups will integrate into Hub71+ ClimateTech, the specialized ecosystem dedicated to advancing decarbonization technologies and supporting a net-zero future.
Among the startups is Canada-based Basetwo, which secured $6 million in funding and offers an AI co-pilot platform for engineers. Similarly, Swedish startup Graphmatech, backed by $10 million, utilizes graphene technology for hydrogen economy solutions and high-performance batteries.
Additionally, Hub71+ Digital Assets, focused on catalyzing Web3 and digital assets growth, welcomes nine new startups, including industry leaders like Bit2Me and Immersve, with funding of $15 million and $9 million, respectively.
Startups joining Hub71's programs will benefit from incentives, cash investments, expert mentorship, and access to Hub71's network of market and capital partners.