The startup accelerator’s Oasis Venture II Fund taps eight early-stage startups, after receiving nearly 1000 applications for this cycle.
Oasis 500, one the MENA region’s first startup accelerators and investment fund managers, has just announced a cohort of eight early-stage startups they’ve tapped for their Oasis Venture II Fund: AlHaq, TakalamTech, Jordilight, FITELY, Pi Pharma, ByrdByte, Quiq Claim, and Tanda.
With over 900 applicants, Oasis 500 whittled them down to 16 who took part in a virtual pitch session in front of a panel of experts, who settled on the final eight, each receiving seed funding of up to $100,000.
"We are excited that our family is getting bigger in these tough times! We continue our journey, despite the coronavirus pandemic, in supporting entrepreneurs and increasing their investment readiness. We also can't wait to showcase the graduates from our first cohort and their path to growth during our upcoming Digital Demo Day at the end of this month," says Luma Fawaz, Oasis 500’s CEO.
The startups that received the investments are from various sectors including HealthTech, PharmaTech, Energy, as well as Hardware and FinTech. Investment committee member, Jameel Anz, adds: “It was a great opportunity to be part of the selection process for this cohort in which a great level of skill, innovation, and diversity was displayed. A strong pipeline of startups led by ambitious and dedicated entrepreneurs culminated in a healthy competition and made the selection a close call. Wishing them all an enjoyable journey to success.”
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