Abu Dhabi’s global tech ecosystem, Hub71, has announced a significant milestone, solidifying the emirate’s position as a burgeoning innovation powerhouse. Its community of nearly 300 startups has collectively raised an impressive USD 2.45 billion (AED 9B) in total funding, showcasing the growing investor confidence in the region’s ventures.
A Milestone in Funding and Revenue
Beyond fundraising, the startups within the Hub71 ecosystem have demonstrated substantial commercial traction, generating a combined USD 1.36 billion (AED 5B) in revenue. These figures underscore the maturity and viability of the ventures being nurtured in Abu Dhabi, contributing directly to the emirate’s economic diversification goals.
Global Expansion and Strategic Partnerships
Hub71 is actively expanding its international footprint through strategic programmes and partnerships aimed at connecting its startups with new markets. According to CEO Ahmad Ali Alwan, these efforts are crucial for sustainable growth.
“Abu Dhabi’s tech ecosystem is steadily expanding internationally through new programmes and partnerships,” stated Alwan.
A recent example of this global push is a startup integration initiative launched in Hong Kong, designed to create new opportunities and foster collaborations. This aligns with Abu Dhabi’s broader mission to establish itself as a central launchpad for global innovation.
Spotlight on Portfolio Innovators
Several startups within the Hub71 community have recently achieved notable milestones, highlighting the diverse innovation taking place across various sectors:
- Aurem: The Abu Dhabi-based fintech raised USD 7 million to develop advanced solutions for the financial services industry.
- Vivan Therapeutics: This UK-based healthtech company secured USD 4.6 million to establish new laboratories in Abu Dhabi, collaborating with local medical centers to deploy its advanced cancer-treatment technologies.
- Mansa: The fintech startup raised USD 10 million and is leveraging the Hub71 network to forge key partnerships with payment firms and public sector entities across the UAE and beyond.
- Monit: The Abu Dhabi-based startup generated USD 3 million in revenue and is now aiming to establish a local assembly line to manufacture and export its devices throughout the region.
About Hub71
Hub71 is Abu Dhabi’s global tech ecosystem that enables founders to build globally enduring companies in any sector. By providing access to a global network of partners, a community of exceptional talent, and a progressive regulatory environment, Hub71 is creating the optimal conditions for growth and success, positioning Abu Dhabi as a leading technology hub.
Source: Waya
