Amman, Jordan – June 26, 2022 – Flat6Labs—the MENA region’s leading seed- and early-stage venture capital firm, currently running the most renowned startup programs in the region—has recently announced that it is investing in seven new Jordanian startups, as part of the second cycle of its funding program, which was launched last June.
By funding startups across the MENA region—including in Jordan—Flat6Labs aims to support entrepreneurs and new businesses as they work to compete on both a local and global scale. The venture capital firm specifically targets startups in innovation-based and knowledge-driven sectors, such as information and communication technologies, software solutions, education, healthcare, digital content and games, hardware, electronics, manufacturing solutions, renewable energy, agricultural solutions, big data and analytics, fintech and payment solutions, media, and entertainment.
Flat6Labs will be providing each selected startup in the current cycle with an investment of $115,000, including an initial capital injection of $65,000. In cooperation with an array of elite coaches and mentors, the venture capital firm will also provide these startups with a four-month training curriculum that includes a variety of workshops and mentoring sessions designed to cover all aspects of business development. Flat6Labs will additionally provide the participating startups with workspaces, marketing and legal support, and the opportunity to benefit from the firm’s regional network of partners and investors—along with the possibility to potentially receive subsequent financing of up to $170,000.
Commenting on the firm’s latest program cycle, Rasha Manna, General Manager of Flat6Labs Jordan, said, “At Flat6Labs, we are immensely proud of what we have achieved since the commencement of our operations in Jordan. In the first cycle of the program, we invested in five Jordanian startups, and the success of that inaugural cycle has resulted in an increase in demand and visibility for our program, allowing us to expand our investments in the second cycle. Ultimately, by connecting with and supporting local entrepreneurs, it is our objective to have a positive impact on Jordan’s economy and society as a whole—in particular, by diversifying the local economic landscape, creating new job opportunities, and helping develop a sea of success stories that will further encourage local entrepreneurs to pursue their ideas and visions. At the same time, we hope that our own achievements and those of our startups will set an example for other investors and venture capital firms, further highlighting the Kingdom’s potential for investments.”
The list of companies in the second cycle includes:
A platform that specializes in providing high-quality mental health services and counseling through psychotherapy sessions carried out by a group of highly qualified specialists.
A company that bridges the gap between physical and online shopping through the “try-before-you-buy” software model, with the aim of automating the returns process for merchants and giving them complete control over their management.
A data driven real-estate marketplace that helps both buyers and sellers complete the transaction faster and with more confidence.
A FinTech peer-to-peer settlement and investments platform, catering to the Medical Insurance industry.
A one-stop shop for worldwide identity verification solutions utilizing a deep pixel biometric fraud detection tools and a user friendly experience supported in 50+ languages.
A platform that provides logistics services by linking companies with suppliers, obtaining various supplies, shopping and buying online at competitive prices; and finally.
The first holistic mindfulness mobile app in Arabic that provides high-quality recorded audio sessions offering different transformational tools for mental, emotional, and spiritual health and wellness prepared and narrated by expert teachers from the Arab world.
Flat6Labs provides startups with funding through the Jordan Seed Fund (JSF), launched in 2021 with a total investment of $20 million, aimed at nurturing the growth and development of 90 early-stage startups during a 5-year investment period. The program is funded by the International Finance Corporation (IFC), the Innovative Startups and SMEs Fund (ISSF), Beyond Capital, Bank Al Etihad, and GMS Ventures & Investments.