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Dubai remains the sweet apple for investment and innovation, attracting global attention with a dynamic startup ecosystem and sweet policy. Funding activities this week feature the diversified financial landscape from decentralised finance to data storage solutions.
Alieus Hedge Fund Raises USD 5 Million in 30 Days
Alieus Hedge Fund raised a whopping USD 5 million in the first 30 days since its launch on 7th September, 2024. The portfolio was witnessing very rapid flows of money wherein an event hosted at Dubai that turned out to be quite successful and brought a host of investors from India, the UK, Malaysia, Singapore, and Mexico were instrumental in it. Alieus Hedge Fund is ready to tap the investment arena globally with its unique model of networking focused on high-growth sectors in renewable energy, technology, and health tech.
Yala Completes Seed Round Co-led by Polychain Capital and Ethereal Ventures
Dubbed Yala is a Dubai-based bitcoin liquidity protocol that recently closed an oversubscribed $8 million seed round led by Polychain Capital and Ethereal Ventures. Galaxy Vision Hill, Anagram, Amber Group, and HashKey Capital are also part of the financing. Funding will accelerate modular protocol for Yala and expand Bitcoin’s role in decentralised finances ahead of the mainnet launch. The company reportedly secured over 2,000 BTC in committed deposits, an indication of the level of investor confidence.
IN5 Start-up Funding Reaches AED 8 Billion
TECOM Group’s in5 incubator has enabled the start-ups to raise more than AED 7.8 billion, which has been a 163% rise from the 2023 levels. The news was pronounced at the Expand North Star, a gist of pro-innovation policies by the emirate of Dubai. Majed Al Suwaidi, SVP, TECOM Group PJSC stated that it aligns with the Economic Agenda ‘D33’ of Dubai. Among the most notable success stories are fintech startup Ziina, which raised AED 80.8 million and podcast distribution platform Podeo, which secured its Series A round with AED 19.8 million.
Botanika Raises $1.5M in Funding
Dubai-based decentralised data storage solutions firm Botanika has raised $1.5 million in funding from 30 angel investors. The money will be focused on a go-to-market strategy and more importantly user acquisition. This hyper-scalable decentralised storage network is powered by proprietary technology led by its CEO Siwon Kim. The company is guided by a strong advisory team that needs to educate the market about innovative solutions.
4Partners Raises $3.6M in Seed Funding
A Dubai-based dropshipping company, 4Partners, has raised $3.6 million in funding to accelerate its expansion in the UAE. The company aims to change e-commerce by enabling businesses with logistics solutions and access to millions of products, according to the firm. The funding will support 4Partners’ mission to assist businesses in launching online stores that are completely functional with little effort, innovating its approach by power-empowering businesses to effectively participate in the increasingly dynamic landscape of e-commerce.
Seed Funding of $10 Million Raised by PiP World from Exinity
PiP World, a pioneering Web3 gaming and edtech ecosystem, has secured funding in the seed round of $10 million from Exinity. Founded in 2022 by Saad Naja, PiP World looks to gamify financial education, making it interestingly accessible. The investment will be instrumental in taking the PiP World offerings to the global platform, capitalising on the innovative blend of gaming and education. The platform, through its products, such as PiP Trader and PiP Academy, will educate the user through engaging learning experiences to empower them with better financial literacy. This strategic investment is in line with the mission of Exinity, equipping the next generation with essential financial instruments and wisdom.
Investments in the city of Dubai are doing quite well with heavy rounds of funding suggesting an appealingly coherent strategy underpinning a city focused on innovation and growth. Fundings have been seen in the areas of hedge funds, blockchain, and data storage; this variety represents Dubai’s role as a global leader in fostering entrepreneurial excellence. As the city stays at the cutting edge of such good strategies and steps, it offers attractiveness to investors and startups alike.
