Abu Dhabi startup community Hub71 raises $1 billion

startups join hub 71Abu Dhabi’s global tech ecosystem, has raised a cumulative $1 billion in venture capital since launching in 2019.

Nine Start-up companies Everyone joined by Hub71 has raised more than $10 million this year, including axiom, A startup that helps companies monitor and analyze data.

badr aurama, Hub71’s acting CEO said: “The true mark of a quality startup is the founders’ proven ability to raise capital from reputable investors. With the startups we have onboarded at Hub71 having collectively raised $1 billion, our community is Increasingly expediting deal flow and cementing Abu Dhabi’s position as the investment destination of choice for start-ups at all stages.

“We are setting the tone for 2023 and remain committed to helping our founders create global impact from our ecosystem.”

Hub71 built a Diversified capital ecology Active investment partners ranging from Mubadala Investments to more than 30 venture capital firms and family offices. It offers a wide range of programs including incentives, corporate engagement, accelerators and global upskilling content.

Benefits for investors working with Hub71 include the ability to refer high-potential portfolio companies to Abu Dhabi’s growing startup community. In the latest cohort, 200 applicants (28.8%) were referrals from venture capital firms, reinforcing general partners’ trust in Hub71 and its ability to accelerate the growth of startups and technology companies.

This year, the ecosystem has joined 53 high-growth technology companies. 9 startups on board in 2022, raising over $10M, which also includes payment operations platforms Alipay and fintech Thor.