PC: IndiaFilings
This week saw engaging turmoil in the vibrant start-up sector in Dubai with considerable investments supporting innovation in various types of companies. Notable companies like The Box, Mansa, and UBQT raised investment to expand their operations and boost services.
The Box Raised $12.5M From Instruments
The Box, based in Dubai and a self-storage company, has successfully raised $12.5 million in a financing round led by Shorooq Partners. The investment is intended to help The Box realize its further tech-based warehouse project in central Dubai. With expansion in the urban landscape of the UAE and a steady influx of foreign nationals, demand has surged for flexible and secure storage solutions, positioning The Box to meet this need.
Mansa Raises $10 Million to Expand Cross-Border Payment Solutions
The Dubai-based fintech company Mansa that specializes in liquidity of stablecoins for cross-border payments has raised $10 million of funding to date. The round consisted of a pre-seed round of $3 million which was led by Tether and co-led by Polymorphic Capital and was further participated by Octerra Capital, Faculty Group, and Trive Digital. Additionally, a further $7 million liquidity was raised from institutional investors. Mansa plans to use the funds to improve its liquidity solutions and to widen its operations, especially in markets such as Latin America and Southeast Asia.
UBQT Secures $750,000 in Pre-Seed Funding and Welcomes New Co-Founder
UBQT, an AI-based social app based in Dubai, which promotes real interactions face-to-face, raised a total of $750,000 in a pre-seed funding round. The investment assistance will aid in scaling product development and building more incrementally on the user base. Since then, UBQT was launched in January 2024 with nearly 5,000 organic downloads and partnered with events of national stature such as GITEX and Step Conference Dubai. The announced change in UBQT leadership is that one of the technology leaders from Meta and Careem, I.Q. Sayed, joins UBQT as the third co-founder and Chief Technology Officer. His technical skills will grow UBQT into its next phase of growth and innovation.
Conclusion
The latest funding activities reiterate Dubai’s emergence as a major center of innovation and investment. With The Box, Mansa, and UBQT getting hefty investments, it goes to show how much investors believe in Dubai’s startups and their power to redefine industries ranging from self-storage, fintech to social networking. As these companies relish their growth momentum, they contribute to the ever-lively, evolving Dubai business landscape.
