Oraseya Capital invests in seven startups via SANDBOX accelerator

• UAE-based accelerator program SANDBOX, backed by Oraseya Capital, celebrated the graduation of seven startups in its fourth edition of the program.
• SANDBOX is a five-month acceleration program in which participating startups benefit from over 50 hours of workshops including access to an integrated suite of financial analysis, marketing strategies and regulatory compliance programs.
• Seven startups made it to the finals, including Qureos, Herogo, Lisan, Sthrive, Zoya, JobEscape and Opteam.
• Each startup received an investment of $150,000.

Press Release:

SANDBOX, a tech startup accelerator program that is part of Oraseya Capital, the venture capital investment arm of Dubai Integrated Economic Zones Authority (DIEZ), today announced the conclusion of its fourth edition. Seven tech startups received investment from Oraseya Capital, with each startup receiving AED 570,000 (USD 150,000) following their success in a program that attracted over 1,500 applications.

Hassan Waheed, Vice President, Corporate Finance & Treasury at DIEZ and Partner at Oraseya Capital, said: “We are proud of the milestones Oraseya Capital has achieved in startup investments in just a few months since its launch in late 2023. The high level of interest in the SANDBOX program, 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 across sectors. We are committed to supporting the digital economy sector in the emirate of Dubai and contributing to the achievement of the goals of the Dubai Economic Agenda D33.”

“Oraseya Capital has invested in startups that have proven high growth potential, with creative ideas and innovative visions. As we strive to change the reality and future of the high-tech sector, we look forward to reaching new heights, all in line with our efforts to enhance Dubai’s competitiveness in attracting and funding technology startups, reinforcing its stellar reputation as a global investment destination,” he added.

Hassan Waheed said that in addition to these new investments, Oraseya Capital has bolstered its efforts by leading an investment round in Growdash, a Dubai-based SaaS platform that specializes in supporting the marketing and operational activities of restaurants, as well as building, implementing and managing their growth strategies through digital sales channels. Oraseya Capital has also participated in a series of investment rounds for several other startups, including RemotePass, an HR technology platform that streamlines the management of remote teams, and iSchool, an EdTech that improves youth digital skills.

The seven startups that received funding from the fourth round of the SANDBOX Accelerator program are: Qureos, a recruitment technology startup that connects talent with jobs 10 times faster; Herogo, a sustainable food technology subscription platform for fruits and vegetables; Lisan, a deeptech generative AI startup specializing in Arabic linguistics; Sthrive, a B2B SaaS platform for retailers designed to increase sales and employee productivity; Zoya, a fintech startup that makes halal investing easy and accessible to Muslims around the world; JobEscape, a productivity startup that upskills freelancers and employees with AI tools; and Opteam, which uses AI-based optimizations to manage projects in the construction sector. For more information about the seven startups, click here.

Zoya: A High Impact Program

Saad Malik, Co-Founder and CEO of Zoya, said, “SANDBOX provided an invaluable foundation for Zoya. Their mentorship and supportive community enabled us to refine our startup and prepare for the next phase of our journey. We are excited to apply these insights going forward.”

Qureos: Exceptional Value

Alex Epure, CEO and co-founder of Qureos, said: “The SANDBOX Accelerator program is very well-structured and has great value. It is backed by Oraseya Capital, which can track future investment rounds, which is not always the case with other programs.”

SANDBOX is a 5-month accelerator program with 2 phases. The first phase is an 8-week “assessment phase” that ends with the startups presenting themselves to the Oraseya Capital Investment Committee. Successful startups formally enter the 3-month SANDBOX accelerator program, each of which receives an investment offer from Oraseya Capital. The SANDBOX program promotes an experimental approach and is strongly focused on revenue-generating activities as well as further fundraising activities. Startups benefit from mentoring from business and technology experts, as well as exposure to other investors.

Startups participating in the program benefit from over 50 hours of workshops that include access to an integrated suite of financial analysis, marketing strategies, and compliance programs. SANDBOX entrepreneurs also receive over 30 hours of mentoring from industry experts and have the opportunity to network with regional investors.

The fifth edition of SANDBOX, which has already received over 1,100 applications, will begin in early September 2024. Startups interested in participating in the sixth edition of SANDBOX to fuel the development of their technology startups and benefit from the investment support of Oraseya Capital can submit applications at www.sandboxaccelerator.com.