RIYADH, Saudi Arabia--(BUSINESS WIRE)-- 500 Global, a multi-stage venture capital firm, and Sanabil Investments, a financial investment company wholly owned by the Public Investment Fund (PIF) announce the eighth batch of the Sanabil Accelerator by 500 Global. This new cohort is set to foster innovation and drive growth across various sectors, including AgTech, Construction Tech, Health Tech, Mobility Tech, Fintech, RegTech, HR Tech, Proptech, and Insurtech. Out of over 430+ applications received from across the MENA region, nine promising companies have been selected for their potential to disrupt industries and address critical market needs.

With a history of empowering startups to scale both regionally and globally, the Sanabil Accelerator by 500 Global continues to offer pre-seed and seed-stage startups invaluable support through mentorship, networking, and resources. This year’s batch aims to build on the achievements of the 89 companies that have already graduated from the program, further solidifying the program’s role in shaping the future of the MENA startup ecosystem.

“We are proud to introduce the entrepreneurs of Batch 8 to the innovation ecosystems in MENA and around the globe; we believe the maturity and clarity in their offerings and deep experiences in their sectors reflect the continued evolution of the region. We are excited to be a partner throughout their entrepreneurial journeys and look forward to continuing to work with exceptional founders and investors from across the MENA region,” said Amal Dokhan, Managing Partner at 500 Global MENA.

“Our leadership in venture capital is reinforced as more entrepreneurs apply to Sanabil Accelerator by 500 Global, seeking support to develop their ideas and achieve success at home and abroad. We are attracting and enabling the brightest minds and best technologies that are improving people’s lives worldwide, fortifying the economy, and making the world a better place for all. We can’t wait to show the region and the world this next wave of innovators, thinkers, and builders,” said a spokesperson at Sanabil Investments.

The 12-week program offers founders one-on-one mentorship focusing on business strategy development, fundraising, and growth. It culminates on December 4th, 2024, with Demo Day at the Four Seasons Hotel in Riyadh, in front of a live audience of key stakeholders, including the venture capital community, corporates, and industry professionals. The event will also be live-streamed to a general audience on YouTube.

The following is the list of Batch 8 companies that have made it through to the final round:

  • Cultivaet (Egypt): A platform that increases farmers’ earnings by transforming agricultural traditions into data-powered modern practices.
  • Equiptal (Saudi Arabia): Optimizes idle machinery for owners by infusing intelligence into construction operations.
  • Hakeem Health (UAE): A mobile app that simplifies prescription medication delivery from nearby pharmacies 24/7.
  • Neo Mobility (UAE): Offers delivery solutions and integrated electric fleet offerings to delivery and taxi mobility companies and drivers.
  • Orbii AI (UAE): Enables B2B lenders to make instant, hyper-accurate credit decisions by uncovering real financial behavior.
  • Sahl (Saudi Arabia): This company helps companies that manage sensitive data achieve digital compliance quickly and inexpensively by automating time-consuming processes.
  • Scooply (Saudi Arabia): Helps F&B businesses thrive through gamified worker training.
  • Smart Bricks (UAE): An AI real estate investing platform that maximizes returns by analyzing 100x more data points and properties.
  • Yasmina (Saudi Arabia): A licensed embedded insurance provider that allows online businesses to customize and sell policies to their users.

With the eighth program group concluding in December, the program will soon begin accepting applications for the next batch. We invite innovative startups to apply for our upcoming batch. Join us on this exciting journey by clicking here.

About 500 Global

500 Global is a multi-stage venture capital firm with $2.3B in assets under management as of Sep 2024 that invests 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 on how best to support entrepreneurial ecosystems so startups can thrive. 500 Global has backed over 5,000 founders representing more than 2,900+ companies operating in 80+ countries. We have invested in more than 35+ companies valued at over $1 billion and 160+ companies valued at over $100 million (including private, public, and exited companies). Our 190+ team members are located in 25 countries and bring experience as entrepreneurs, investors, and operators from some of the world’s leading technology companies.

About Sanabil Investments

Sanabil is a financial investment company wholly owned by the Public Investment Fund (PIF). We commit more than USD 3 billion in capital annually into global private investments, including VC/growth and small buyout assets. We are a dynamic, nimble, and highly experienced team of investment professionals. We provide partners with patient capital, the ability to invest across multiple funding rounds, and access to the region. At Sanabil, we invest in great ideas, minds, and companies. For more information, please visit www.sanabil.com.

Media contacts
Questions or further discussion regarding the startups or 500 Global’s accelerators can be directed to Samantha Kiel, (press@500.co)
View source version on businesswire.com: https://www.businesswire.com/news/home/20241110587023/en/

*Source: AETOSWire

Contacts
Samantha Kiel
press@500.co