Startup

UAE-based Modus Capital Announces Launch of 8 New Startups

Modus aims to launch 6 to 8 startups by 2024.

By Inc.Arabia Staff
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Eight startups have been built and launched as part of UAE-based venture platform Modus Capital’s Venture Builder program for 2023.[1]  

The startups include JamaliBox, a monthly subscription service for tailored beauty boxes that ship across the UAE; MDBX, a healthtech that combines a digital pharmacy with robotics to help deliver medications and care for chronic conditions; Monet, a finance platform that enables businesses to convert their revenue streams into upfront capital; Oscar, an automated, MENA-specific tool for sustainable procurement; Seva, an application created to replicate and streamline the Knowledge and Human Development Authority (KHDA) process in a digital environment; Sinbad, a know-your-customer (KYC), AI-powered solution catering to pilgrims at Umrah; Stornest, a digital tool for organizing and preserving legacy data and records that grants access to chosen beneficiaries in the event of an unexpected death; and Your Social Smile, a dental digital marketing tool that facilitates communication between dentists and patients. 

Modus Capital is a venture platform that supports enterprises through operational, institutional, and financial capital in MENA and other frontier economies. Modus invested $2.8 million across the startups that launched from its 2023 Venture Builder.

The Venture Builder is Modus Capital's nine-month program that allows founders to co-build ideas with Modus’ experts and develop fully functional and investable companies. Through the process, founders create market-ready MVPs, test and validate ideas, and have access to tech support and mentorship.

Modus runs a network of venture builders in Abu Dhabi, Riyadh, and Cairo that is supported by the $50 million Venture Builder Fund.

Modus aims to launch six to eight startups from its pre-existing pipeline of entrepreneurs in its venture builders by 2024 and is currently welcoming new applicants for next year's program.

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