500 Global, a multi-stage venture capital firm, and Sanabil, a financial investment company owned by the Public Investment Fund (PIF) in Saudi Arabia, have revealed the seventh round of their Sanabil 500 MENA Seed Accelerator Program. This program is designed to support emerging companies in growing across the Middle East and North Africa.
The chosen companies are working on solutions in various fields like finance technology (Fintech), food technology (Foodtech), software as a service (SaaS), machine learning & software (ML), online commerce (E-Commerce), agricultural technology (AgTech), advertising technology (AdTech), and property technology (Proptech). These twelve companies were picked from about 400 candidates, primarily from the Middle East & North Africa, with Saudi Arabia, UAE, and Egypt leading in submissions.
The Sanabil 500 MENA Seed Accelerator Program supports early-stage startups in the Middle East and North Africa to grow and expand their businesses. So far, 77 companies have completed the program successfully.
“This batch represents the 7th edition of the Sanabil 500 MENA Seed Accelerator, and showcasing these startups at the upcoming demo day fills us with pride. Their maturity and the exciting, diverse opportunities they offer, coupled with the keen interest from numerous international investors looking to engage with the region, highlight the vibrant theme of this era in the region. We are privileged to be contributing significantly to the development of this ecosystem as a global platform is exhilarating,” mentioned Amal Dokhan, Managing Partner at 500 Global MENA.
“This is our seventh Sanabil 500 MENA Seed Accelerator Program and the competition is as intense as we have ever seen it. With around 400 applicants, this year’s 12 finalists represent come from a diverse range of sectors including, food and agritech and other solutions-based tech from their industry. We believe the program will help shape their entrepreneurial journey and we remain committed to supporting and guiding them as they validate their product and plot a path to profitability,” said a Sanabil spokesperson.
The 12-week program provides entrepreneurs personalized guidance in business strategy, fundraising, and growth. It concludes on May 29, 2024, with Demo Day at the Four Seasons Hotel in Riyadh, showcasing to a live audience of important stakeholders from the venture community, corporations, and industry experts. The event will also be streamed live on YouTube for a wider audience.
The following is the list of Batch 7 companies that have made it through to the final round:
- Agile Loop (Saudi Arabia): An AI system that learns from users, understands their tasks, and manages computers for them.
- Comfi (UAE): Enables B2B suppliers to receive immediate payment while providing flexible payment options for their customers, freeing up cash flow.
- Desert Farms (USA): A direct-to-consumer (D2C) baby formula that provides the nutritional benefits of Camel Milk, known as a superfood.
- Doos (Saudi Arabia): An app for your lifestyle that gives you what you need and want quickly and with a high quality experience in under 30 minutes.
- Fai (Saudi Arabia): A simple fix that automates tax handling for small businesses and individuals, ensuring they follow the rules.
- Metric (UAE): A finance analysis app that assists business owners in improving decision-making by turning their messy financial data into useful insights.
- MLNetworks (Morocco): Assists telecom companies in designing, operating, and improving their networks smartly using a comprehensive data platform.
- Octa (UAE): Streamlines invoice collection for B2B companies with a simple one-click process, ensuring timely payments.
- Poultry Sync (UAE): An AI platform from genetics to table ensures poultry producers meet safety rules and increase profits.
- Reno (UAE): A digital platform that helps homeowners turn their dream homes into reality by making the renovation process easier and more manageable.
- Sav (UAE): A platform that includes everyone and helps consumers make smarter spending and saving choices through personalized gaming experiences.
- Sweply (Saudi Arabia): Simplifies creating, managing, and analyzing digital marketing campaigns across various platforms in one spot.
The seventh round of the program ends in May, and we’re now open for applications for the next round. Innovative startups are welcome to apply for our upcoming batch and join us on this exciting journey by clicking here.
About 500 Global
500 Global is a venture capital firm managing $2.4 billion in assets as of March 31, 2024. We invest in tech companies with high growth potential, focusing on markets where technology, innovation, and investment can create lasting value and boost economies. We collaborate closely with key players and advise governments on supporting startup ecosystems for their success. We’ve supported over 5,000 founders from 2,900+ companies across 80+ countries. Our investments include 35+ companies valued at $1 billion+ and 160+ companies valued at $100 million+ (private, public, and exited). Our team of 200+ members worldwide brings expertise from top tech firms as entrepreneurs, investors, and operators.
About Sanabil Investments
Sanabil is a financial firm owned by the Public Investment Fund (PIF). Each year, we invest over USD 3 billion in global private ventures, focusing on growth and small buyout assets. Our skilled team offers patient funding, supports multiple investment rounds, and connects partners with regional opportunities. Sanabil backs innovative ideas, talented individuals, and promising companies. For more information, please visit sanabil.com.
