Hub71 startups attract $130m in investment; here’s who made it to cohort 15

Image credit: WAM

Abu Dhabi’s Hub71 said on Thursday that it has welcomed 21 new startups to its 15th cohort, which have collectively secured $134.9m in funding, bringing the total number of ventures supported by the technology hub to 243.

Cohort 15 was selected from more than 1228 applications, with 17 startups founded in international markets, including the US, the UK, France, and Germany.

Hub71 said notable startups that will join its Access program include EpiBone, a US-based HealthTech company that has raised $43m (Dhs158m) in funding.

Partanna Oasis, a material science company that makes carbon-negative concrete and was co-founded by NBA legend Rick Fox, raised $26m in funding and is set to join Hub71+ ClimateTech.

Similarly, UK-based Greengage, which offers Web3 fintech solutions for SME and family offices, secured $10m in funding and is set to join the Hub71+ Digital Assets specialist ecosystem.

Hub71 said that Cohort 15 startups are establishing operations in Abu Dhabi, further cementing the emirate’s status as a hub for entrepreneurial growth.

“Cohort 15 is abundant with pioneering startups that are positioned to contribute to Abu Dhabi’s innovation ecosystem,” said Ahmad Ali Alwan, the CEO of Hub71.

Introducing Hub71’s #Cohort15 – a new wave of innovation has arrived 🚀

With a massive USD 134.9M raised, 21 new startups have joined our Access, Hub71+ ClimateTech, and Hub71+ Digital Assets programs, ready to deliver innovative solutions and push the boundaries of technology.… pic.twitter.com/CLlce5vGFt

— Hub71 (@hub71ad) September 11, 2024

Cohort 15 startups, which operate across fintech, climatetech, healthtech, edtech, mobility, and logistics, are poised to significantly contribute to Abu Dhabi’s economic resilience and sustainable growth.

Seven startups from Cohort 15 will join Hub71+ ClimateTech, bringing the total number of startups to 12 that are all working towards achieving the UAE’s net-zero and sustainability goals.

Plenesys, one of the startups joining Hub71+ ClimateTech, creates innovative solutions that produce clean hydrogen without CO2 emissions. The French startup recently secured $3m in funding.

Five new startups are joining Hub71+ Digital Assets, a specialised ecosystem dedicated to fostering innovation in Web3 and digital assets, bringing the total number of startups in the ecosystem to 22.

Norway-based Gateway.fm, one of the startups joining Hub71+ Digital Assets, raised $6m in funding.

Cohort 15 startups will benefit from up to Dhs250,000 worth of in-kind incentives and Dhs250,000 in cash for equity through a SAFE note. High-performing startups will also be eligible to receive a top-up of up to Dhs250,000 in exchange for additional equity upon completing the program.

Read: Abu Dhabi’s Hub71 selects startups from 11 countries for 14th cohort

Selected startups of Hub71’s latest cohort include:

Access Programme
EpiBone (US) – AI-driven regenerative medicine.
Autone (US) – AI-powered logistics.
Greengage (UK) – Web3 fintech services.
Capcade (data sharing software), Spontivly (data analytics platform), Mamotest (AI platform), Wuilt (no code end-to-end solution), Enrichly (development platform), and Vault (wealth management platform)

Hub71+ ClimateTech
Partanna Oasis (US) – Carbon-negative concrete.
Plenesys (France) – Clean hydrogen production.
AtmoCooling (climate technology company), Blusink (ocean carbon removals company), Circa Biotech (organic food waste management plant), Electrogenos (technology and manufacturing company), and Terrax Environmental (transforms waste into sustainable products)

Hub71+ Digital Assets
Gateway.fm* (Norway) – Blockchain infrastructure
Stables (mobile-first digital wallet), Chainsight (platform aggregating on-chain and off-chain data), easeflow (AI-enabled management tool) and Greengage (Web3 fintech company)

In more recent news, Hub71 startups, Fuze and Bit2Me, a leading Spanish digital assets company, have signed a strategic partnership to improve digital assets infrastructure connectivity between Latin America, Europe, and the Middle East.

The agreement unites two of the world’s leading digital assets platforms to maximise the prospect of platform trading using the UAE Dirhams. The partnership was signed by representatives of Fuze and Bit2Me at Hub71, Abu Dhabi’s global tech ecosystem.