SANDBOX, the leading accelerator program supported by Oraseya Capital and affiliated with the Dubai Integrated Economic Zones Authority (DIEZ), has announced the graduation of its fourth cohort. Seven cutting-edge technology startups have successfully finished the program, each securing an investment of AED 570,000 (USD 150,000) from Oraseya Capital.
The fourth cohort received more than 1,500 applications, highlighting the programme’s increasing popularity and the area’s dynamic entrepreneurial culture. SANDBOX’s five-month accelerator programme provides startups with extensive resources, featuring over 50 hours of workshops focused on financial analytics, marketing strategies, and legal compliance. Furthermore, participants gain access to more than 30 hours of mentorship from industry professionals and essential networking opportunities with local investors.
Commenting about the occasion, Hassan Waheed, Partner at Oraseya Capital and VP of Corporate Finance and Treasury at DIEZ, said: “We are proud of the milestones that Oraseya Capital has achieved in startup investments within just a few months of its launch in the end of 2023. The high level of interest in its SANDBOX programme, as well as the many innovative and creative ideas and ambitious projects, reflect the long-term importance of this strategic initiative in promoting the growth of small and medium-sized enterprises in various sectors.”
Waheed emphasised Oraseya Capital’s active investment endeavours, which include spearheading a funding round for Growdash, a Dubai-based SaaS platform focused on restaurant growth strategies. Additionally, the firm has engaged in investment rounds for other startups, including RemotePass, a human resources technology platform, and iSchool, an educational technology initiative.
The seven startups that have secured funding in this cohort include:
- Qureos: A recruitment technology company that improves job-matching efficiency by a factor of ten.
- Herogo: A subscription service focused on sustainable food, providing fruits and vegetables.
- Lisan: A deep tech generative AI company focused on Arabic linguistics.
- Sthrive: A B2B SaaS platform to enhance sales and employee performance within the retail sector.
- Zoya: A fintech firm that facilitates halal investing for Muslims worldwide.
- JobEscape: A productivity platform that upskills freelancers and employees with the help of AI.
- Opteam: An AI-powered solution designed to optimise project management processes in the construction industry.
Alex Epure, CEO and Co-founder of Qureos said that the SANDBOX Accelerator program delivers outstanding benefits and is supported by Oraseya Capital, presenting opportunities for future investment rounds. This advantage is not commonly found in other programs.
According to Saad Malik, co-founder and CEO of Zoya, SANDBOX has played a vital role in establishing a solid foundation for Zoya. Their guidance and nurturing community have enhanced our startup and equipped us for future expansion.
About SANDBOX
SANDBOX functions in two distinct stages. The first is an 8-week Evaluation Phase during which startups present their ideas to Oraseya Capital’s Investment Committee. This is followed by a 3-month Accelerator Phase for those who are selected. The program focuses on experimentation, revenue generation, and pursuing further fundraising opportunities.
The application process for the fifth edition of SANDBOX, scheduled to commence in September 2024, is underway, having already received more than 1,100 submissions. Startups looking to participate in the sixth edition and take advantage of Oraseya Capital’s investment assistance can submit their applications at www.sandboxaccelerator.com.
