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STARTUPS-
#1- UAE-based climate tech startup Coral raised USD 3 mn in a seed fundraising round from a group of tech investors, according to a press release. The funds will be used to scale Coral’s platform, expand its staff, and open up an Abu Dhabi office, the statement notes. The startup has already secured several major partnerships to support its scaling goals.
About Coral: The startup uses AI-powered carbon accounting software to help companies manage their emissions, reducing tracking time by up to 95%, according to the statement. It also provides curated carbon offset options.
#2- Watermelon Ecosystem to offer Biz2X’s SME finance solutions on its platform: Merchants using Watermelon Ecosystem, a Dubai-based online marketplace that connects suppliers and small F&B businesses, will be able to access SME finance solutions offered by US fintech platform Biz2X under a new partnership between the two, a statement from Biz2X showed. The partnership aims to provide small businesses with fast access to capital, with loan processing times as short as 24-48 hours.
#3- Hexitime taps into the UAE: UK-based skill-sharing timebank Hexitime partnered with Dubai-based startup accelerator iAccel GBI to launch its platform in the UAE, according to a statement from the Abu Dhabi SME Hub. Hexitime is an online marketplace where employees can exchange skills and expertise using a tokenized time currency.
AI-
Meta and Dubai Future Foundation launched the first edition of their AI accelerator Llama Design Drive, TechAfrica News reports. Taking place in Dubai Future Foundation’s ecosystem Area 2071, the program was joined by 22 startups and eight AI development professionals in this round.
The details: The accelerator will offer startups a chance to work with Meta’s engineering teams, with the chance to be fast-tracked into a global Meta-sponsored program. They will also be eligible to receive USD 500k in funding to support the development of their AI products.
TRADE-
The UAE unveiled the second phase of its Trade Tech initiative during the World Trade Organization’s general forum in Geneva, Al Etihad reports, citing statements from the UAE’s representative to the WTO, Abdul Salam Mohammad Al Ali. The second phase will focus on AI deployment to streamline logistics and enhance trade finance in a bid to improve the industry’s efficiency and forecasting capabilities.
About Trade Tech: The partnership between the UAE and WEF looks to use advanced technologies to facilitate trade in merchandise and services. Trade Tech has four components: a forum for industry leaders to gather and share best practices, an annual research report, a regulatory sandbox for companies and startups to experiment with innovations, and an incubator for startups in the TradeTech space.
SMEs-
The Dubai Department of Economy and Tourism (DET) partnered with Amazon UAE to launch an accelerator program that will help SMEs in Dubai tap global markets, according to Dubai’s Media Office. The DET x Amazon Accelerator will provide SMEs with the digital tools, resources, and mentorship needed to expand their global reach.
SPACE-
Burjeel partners with Axiom Space to study new technologies in space: ADX-listed healthcare provider Burjeel Holdings signed an MoU with US space infrastructure developer Axiom Space to conduct research on the impact of microgravity on the human body, according to a press release (pdf). The research will see the deployment of Burjeel’s medical technologies into space where they will be operated by Axiom’s astronauts during the Axiom Mission 4 (Ax-4), scheduled for launch in spring 2025.
RETAIL-
Admiral Appliances taps local distributor to bring its products to the UAE: US home appliances manufacturer Admiral Appliances partnered with the Emirati consumer electronics distributor Jumbo Electronics to introduce its products to the UAE market, according to a press release. Admiral’s products will hit the stores and be available on Jumbo’s e-commerce website starting 24 October.
ENVIRONMENT-
#1- The Environment Agency of Abu Dhabi and the International Center for Biosaline Agriculture inked an MoU to cooperate on groundwater, soil, and biodiversity projects in a bid to back the emirate’s sustainability efforts and optimize the use of its natural resources, according to an Abu Dhabi Media Office statement. The MoU aims to facilitate the use of sustainable practices in forestry and irrigation, as well as monitor rangelands and rehabilitate sites, and conduct research on drought-resistant species.
#2- The Dubai Department of Economy and Tourism tapped HaejooX to build 20k reef modules, set to be deployed over three years, according to the Dubai Media Office.
MANUFACTURING-
Dubai-based laboratory solutions provider Gulf Scientific Corporation (GSC) will represent the UK scientific equipment supplier Scion Instruments across Saudi Arabia, Kuwait, and Qatar under a new partnership agreement they signed, according to a press release. The partnership will provide Scion Instruments with access to laboratories operating in the petrochemical and environmental monitoring industries across the region.
About the company: Scion Instruments is an analytical instrumentation producer, specializing in gas and liquid chromatography, and mass spectrometry solutions.
FINTECH-
Botim users will be able to access National Bonds services directly via the app: Astra Tech, the UAE-based consumer technology firm and owner of the Gulf region’s most popular voice-calling app Botim, partnered with homegrown investment company National Bonds to integrate the latter’s financial solutions into Botim, according to a press release.
