{"id":94503,"date":"2024-08-05T00:00:00","date_gmt":"2024-08-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/oraseya-capital-backs-seven-startups-in-latest-sandbox-cohort\/"},"modified":"2024-08-05T00:00:00","modified_gmt":"2024-08-05T00:00:00","slug":"oraseya-capital-backs-seven-startups-in-latest-sandbox-cohort","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/08\/05\/oraseya-capital-backs-seven-startups-in-latest-sandbox-cohort\/","title":{"rendered":"Oraseya Capital backs seven startups in latest sandbox cohort"},"content":{"rendered":"

Seven startups received AED 570k (USD 150k) worth of backing each from <\/strong>Sandbox<\/strong>, the tech accelerator program under Dubai Integrated Economic Zones Authority\u2019s venture capital arm Oraseya Capital<\/a>, according to the Dubai Media Office<\/a>. This investment wraps up the fourth Sandbox cohort, which drew over 1.5k applications, with the next round set to begin in September. <\/p>\n

The cohort includes:<\/strong> Recruitment tech startup Qureos<\/a> ; Herogo<\/a>, which offers a sustainable produce subscription service; Lisan<\/a>, which specializes in generative AI for Arabic linguistics; Sthrive<\/a>, a B2B software as a service designed to boost retail performance; Zoya<\/a>, a fintech for halal investments; freelance training platform JobEscape<\/a> ; and AI construction planning software startup Opteam<\/a>. <\/p>\n

INS.- <\/p>\n

West P&I to set up shop in Dubai: <\/strong>Marine ins. provider West of England P&I Club<\/a> plans to launch a new regional office in Dubai International Financial Center, making it the first International Group of P&I Clubs<\/a> member to set up shop there, a company statement<\/a> showed. The office will serve GCC countries and the Indian subcontinent, with operations scheduled to kick off by autumn.<\/p>\n

M&A-<\/p>\n

Dariush Soudi taps into the veterinary care market: <\/strong>Entrepreneur and founder of Arena<\/a>Capital<\/a> Dariush Soudi acquired Noble Veterinary Clinics<\/a> for an undisclosed sum through his family office, according to a statement<\/a>. The business runs two clinics in Dubai Investment Park and Jumeirah Lake Towers.<\/p>\n

ALSO- Soudi is in the market for beauty clinics: <\/strong>Soudi is shopping for investments in beauty clinics and polyclinics, he said in the statement, adding that he has formed partnerships in the UK and Germany to help him nail down potential choices.<\/p>\n

\n

EDUCATION-<\/p>\n

Rubu' Qarn gets a STEM arm:<\/strong> Wife of Sharjah Ruler Sheikha Jawaher bint Mohammed Al Qasimi has launched a STEM arm for the Rubu' Qarn<\/a> (RQ) foundation, the RQ Science and Technology Center, in Sharjah\u2019s Research Technology and Innovation Park, Wam<\/a> reported. The new center plans to partner with public and private sector players as well as global academic institutions to organize competitions, forums, and events, and provide specialized courses to beef up the country\u2019s talents in science and technology.<\/p>\n

\n

AUTOMOTIVE-<\/p>\n

#1- South Korea\u2019s largest car rental company <\/strong>Lotte Rental<\/a><\/strong> has launched a regional sister <\/strong>company for its used-car selling business<\/strong> Lotte Auto Global<\/a> in Dubai, the Korea Economic Daily<\/a> reported. Lotte Auto Global Middle East will focus on boosting the company\u2019s sales in the Mena and Commonwealth of Independent States (CIS) regions.<\/p>\n

#2- EV brand Zeekr opens its first showroom in Dubai:<\/strong> Electric vehicle (EV) brand Zeekr\u2019s official distributor AW Rostamani Group (AWR) launched the first dedicated Zeekr showroom in the UAE on Sheikh Zayed road in Dubai, according to a statement<\/a>. The distributor also launched a dedicated service center in Deira offering after-sale support.<\/p>\n

\n

BUSINESS- <\/p>\n

#<\/strong>1- SCCI + ADCCI to boost cooperation: <\/strong>The Sharjah Chamber of Commerce and Industry (SCCI) met with the Abu Dhabi Chamber of Commerce and Industry (ADCCI) to discuss joint cooperation to ramp up service quality and diversity for private sector members in Abu Dhabi and Sharjah, according to a press release<\/a>. The two sides also discussed launching initiatives and projects to boost economic ties between UAE businesses and their global counterparts, and support expansion into regional and global markets.<\/p>\n

#2- Mapei\u2019s Zero line lands in the UAE: <\/strong>Mapei Group, an Italian chemical products manufacturer for the building industry, launched its sustainable Zero line in the MENA region, according to a press release<\/a>. The line includes eco-friendly construction products for ceramics and natural stone, cleaning, maintaining, protecting surfaces, waterproofing, concrete repair, and more. <\/p>\n

SUSTAINABILITY- <\/p>\n

The Climate Change and Environment Ministry launched a program to upskill agricultural <\/strong>extension agents and staff,<\/strong> focusing on communication skills to facilitate technology transfer and modern farming techniques, Wam<\/a> reports. The program features specialized training courses covering areas including soil and irrigation, crop and vegetable production, fruit production, pest prevention and control, and beekeeping. It will be rolled out in collaboration with partners, research centers, and global experts.<\/p>\n

The ministry is also planning to develop an annual agricultural guidance plan to monitor and support farmers<\/strong>, providing data analysis and recommendations to farmers in reports focusing on crop production and pest protection. <\/p>\n

TRANSPORT- <\/p>\n

Dubai gets 10 new truck rest stops:<\/strong> Dubai\u2019s Roads and Transport Authority (RTA) and Adnoc completed the construction of 10 out of 16 rest stops for trucks, each able to accommodate 30-45 vehicles, Wam<\/a> reported. The rest stops are located on Sheikh Mohammed bin Zayed Road, Emirates Road, Dubai - Hatta Road, Dubai - Al Ain Road, Jebel Ali - Lehbab Road, and Al Awir Road.<\/p>\n

BANKING- <\/p>\n

The CBUAE has slapped an unnamed UAE bank with a AED 5.8 mn fine<\/strong> for breaching anti-money laundering and counter terrorism financing regulations, according to a statement (pdf)<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The seven startups received AED 570k worth of backing<\/p>\n","protected":false},"author":1,"featured_media":94504,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1552],"tags":[47,895,1357,313,7,132,1344,147,339,1341,1334,1367],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-94503","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-automotive","tag-business","tag-education","tag-enterpriseam-uae","tag-insurance","tag-ma","tag-startups","tag-sustainability","tag-tech","tag-trade","tag-transport","wpautop","entry"],"acf":{"mongo_id":"1906327c-072f-4767-b56d-e6c3d3f15765","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/205.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Oraseya Capital backs seven startups in latest sandbox cohort","related_issue":[94489],"teaser":"The seven startups received AED 570k worth of backing","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.f62af4dd-16ac-47fe-9408-340f51ddc10d.mp3"},"yoast_head":"\nOraseya Capital backs seven startups in latest sandbox cohort - 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