Amman, Jordan – Flat6Labs – the MENA region’s leading seed and early-stage venture capital firm, currently managing the region’s most renowned startup programs – recently announced that it will invest in seven new Jordanian startups , as part of the second cycle of its funding program launched last June.
By funding startups in the MENA region, including Jordan, Flat6Labs aims to support entrepreneurs and new businesses in their efforts to compete locally and globally. The venture capital firm specifically targets startups in innovation and knowledge-based sectors, such as information and communication technologies, software solutions, education, health, content and services. digital games, hardware, electronics, manufacturing solutions, renewable energy, agriculture solutions, big data and analytics, fintech and payment solutions, media and entertainment.
Flat6Labs will provide each selected startup in the current round with an investment of $115,000. Flat6Labs will provide these startups with a four-month acceleration program that includes a variety of workshops and mentorship sessions designed to cover all aspects of business development. Flat6Labs will further provide participating startups with workspaces, marketing and legal support, and the opportunity to benefit from the company’s regional network of partners and investors, as well as the opportunity to receive follow-on funding of up to $170. $000.
Commenting on the company’s latest program cycle, Rasha Manna, Managing Director of Flat6Labs Jordan, said, “At Flat6Labs, we are extremely proud of what we have achieved since the start of our operations in Jordan. In the first cycle of the program, we invested in five Jordanian startups. The success of this inaugural cycle has resulted in increased demand and visibility for our program, allowing us to expand our investments in the second cycle. Ultimately, by connecting with and supporting local entrepreneurs, our goal is to have a positive impact on the Jordanian economy and society as a whole – creating new employment opportunities and helping to develop success stories that will further encourage local entrepreneurs to pursue their ideas.
The list of graduate businesses includes: Arab Therapy, a platform specializing in providing high-quality mental health services and counseling through psychotherapy sessions performed by a group of highly qualified specialists; BloomIt, a Try Before You Buy software that integrates with e-commerce storefronts in the MENA region. Bloom automates returns instead of the typical manual process while giving merchants full control over returns, mimicking the in-store experience; Khareta, a data-driven real estate marketplace that helps buyers and sellers close the deal faster and with more confidence; QuiqClaim, a peer-to-peer FinTech settlement and investment platform for the medical insurance industry; iPass, a one-stop-shop for global identity verification solutions using deep-pixel biometric fraud detection tools and a user-friendly experience supported in over 50 languages; Shop4me, a platform that provides logistics services by connecting businesses with suppliers, obtaining various supplies, shopping and purchasing online at competitive prices; and finally, Sukoon Awakening, a holistic mindfulness mobile app in Arabic that offers high-quality recorded audio sessions offering different transformative tools for mental, emotional and spiritual health and well-being prepared and narrated by expert teachers of the Arab World.
Flat6Labs provides startups with funding through the Jordan Seed Fund (JSF), a $20 million fund launched in 2021, aimed at nurturing the growth and development of 90 early-stage startups over a 5-year investment period . The program is funded by the International Finance Corporation (IFC), Startups and Innovative SMEs Fund (ISSF), Beyond Capital, Bank Al Etihad and GMS Ventures & Investments.
Flat6Labs is the leading seed and early stage venture capital firm in the MENA region, currently managing the most renowned startup programs in the region. Each year, Flat6Labs invests in over 100 innovative, technology-driven startups enabling thousands of passionate entrepreneurs to realize their bold ambitions and ultimately become their institutional co-founders.
Flat6Labs runs a number of seed funds with a total AUM of over $85 million. Over 25 leading institutions have invested in the funds managed by Flat6Labs; believe in the asset class and Flat6Labs proven track record as a market leader. Flat6Labs offers a wide range of investment ticket sizes ranging from $50,000 to $500,000, supporting startups through their early journeys, from pre-seed through pre-Series A stages. to investments, Flat6Labs exceptional startup programs, executed to specifically meet the needs of innovative entrepreneurs, help them accelerate their growth by providing them with a plethora of support services and connecting them to unparalleled opportunities with an extensive network including hundreds of business mentors, investors and companies.
Launched and based in Cairo since 2011, Flat6Labs has several offices in the region; with continued plans to expand into other emerging markets.
For more information visit www.flat6labs.com