500 Global and Sanabil Investments announce batch 2 of the Sanabil 500 MENA Seed Accelerator Program

Riyadh, Saudi Arabia - 500 Global, a leading global venture capital firm, and Sanabil Investments, a financial investment company focused on global private investments in venture capital, growth and small buyouts, unveil today 11 startups in Batch 2 of the Sanabil 500 MENA Seed Accelerator Program 2021. They were selected out of 500 applicants.

The Accelerator Program provides pre-seed and seed-stage startups across the Middle East and North Africa with the foundation they need to validate and scale their business regionally and globally.

The finalists in Batch 2 are working to address solutions in a diverse range of sectors, including fintech, ecommerce, NFT, health tech, and real estate tech. More than 60% have their main operations in Saudi Arabia or have a founder of Saudi origin, while startups without headquarters in the country have indicated their intent to establish operations in Saudi Arabia within the next three years. Female founders lead a third of the batch, signaling 500 Global’s commitment to continue supporting diversity.

“The Sanabil 500 MENA Seed Accelerator aims to create a resilient, integrated, and sustainable entrepreneurial ecosystem that attracts young companies from around the region and contributes to its growth. We’re excited to support such talented founders as they embark on a promising journey,” said Bedy Yang, Managing Partner at 500 Global.

“We are delighted with the quality of this second batch of startups. Our 11 finalists reflect the evolving breadth and depth of today’s entrepreneurial ambitions and where founders believe their products and services could soon make a difference in our everyday lives. We look forward to this exciting Demo Day to witness firsthand how the founders will articulate the transformation of their visions into commercial realities,” said Sanabil Spokesperson.

The 12-week program offers founders dedicated mentorship with a focus on business strategy development, fundraising, and growth. It culminates on 19 December, 2021 with Demo Day at the Four Seasons Hotel in Riyadh, in front of a live audience of key stakeholders, including accredited investors, corporates and industry professionals. The event will also be livestreamed.

Here are Batch 2 companies:

Bringy: Enables customers to purchase and claim insurance online with a few simple clicks.
Nuqtah: NFT marketplace for creatives in Saudi Arabia.
Ameen: Licensed therapist in the comfort of your home.
Jingle Pay: Digital banking app that simplifies expats' everyday financial needs.
Below: Direct-to-consumer focused on below-the-waist hygiene products for men in MENA.
Playbook: Edutainment platform and professional network that accelerates career progression for women.
Nitros: Multi-carrier shipping software empowering online merchants to automate their shipping operations.
Letswork: A marketplace and digital membership that connects users to on-demand workspaces, private offices and meeting rooms.
Juleb: SaaS for pharmacies that helps increase their sales and guarantees compliance through an enterprise resource
planning system that streamlines point of sale processes.
TeamUp: Event management app for organizing and sharing sports competitions.
Twinn Health: Enables early disease detection using imaging and AI tools to extend a healthy human lifespan.

-Ends- 

About 500 Global

500 Global is a venture capital firm with $1.8B in assets under management that invests early in founders building fast-growing technology companies. We focus on markets where technology, innovation, and capital can unlock long-term value and drive economic growth. We work closely with key stakeholders and advise governments and corporations on how best to support entrepreneurial ecosystems so startups can thrive. 500 Global has backed over 6,000 founders representing more than 2,500 companies operating in 77 countries. Our portfolio includes 41 companies valued at more than $1 billion and 125 companies valued at over $100 million. Our team members are located in more than 15 countries and bring experience as entrepreneurs, investors, and operators from some of the world’s leading technology companies.

The data referenced above represents best estimates that may be based on internal and external, private and public data. 

About Sanabil Investments

Sanabil is a financial investment company that commits approximately $2 billion in capital per annum into private investments that include venture capital, growth, and small buyouts. Since our 2009 inception with $8 billion in paid-up capital, we have seen firsthand how bold ideas can disrupt traditional business models; ideas that enable new and improved ways of producing, consuming, and experiencing things. We choose to partner with the architects of these ideas. We are a dynamic, nimble, and highly experienced team of investment professionals that provides partners with patient capital, the ability to invest across multiple funding rounds, and access to the GCC investment ecosystem. At Sanabil, we identify, invest in, and transform groundbreaking ideas into tangible realities.

Notes:

500 STARTUPS PROGRAMS ARE OPERATED BY 500 STARTUPS INCUBATOR, L.L.C. (TOGETHER WITH ITS AFFILIATES, “500 STARTUPS”) AND 500 STARTUPS FUNDS DO NOT PARTICIPATE IN ANY REVENUE GENERATED BY THESE ACTIVITIES. PARTICIPATION IN THE ACCELERATOR DOES NOT GUARANTEE INVESTMENT BY A 500 STARTUPS FUND AND INVESTMENTS MAY NOT HAVE BEEN COMPLETED IN ALL COMPANIES AS OF DEMO DAY.

ALL CONTENT PROVIDED IN THIS POST IS PROVIDED FOR GENERAL INFORMATIONAL OR EDUCATIONAL PURPOSES ONLY. UNDER NO CIRCUMSTANCES SHOULD ANY INFORMATION OR CONTENT IN THIS POST, BE CONSIDERED AS AN OFFER TO SELL OR SOLICITATION OF INTEREST TO PURCHASE ANY SECURITIES ADVISED BY 500 STARTUPS OR ANY OF ITS AFFILIATES OR REPRESENTATIVES.

THE TITLE "GENERAL PARTNER" IS USED IN ACCORDANCE WITH CUSTOMARY BUSINESS PRACTICE IN THE VENTURE CAPITAL INDUSTRY AND DOES NOT INDICATE A LEGAL STATUS AS "PARTNER" IN A PARTNERSHIP.

© Press Release 2021