Success Stories Archives - Flat6Labs


Flat6Labs Launches in Jordan: A $20m Seed Fund and Seed Program

Flat6Labs, MENA’s leading seed investor and the largest manager of startup programs in the region, has announced the launch of a new USD 20 million Seed Fund in Jordan. Created to nurture the growth and development of early-stage companies, the Jordan Seed Fund (JSF) has achieved a first close of USD7.4 million and attracted contributions from prominent investors such as the International Finance Corporation (IFC), the Innovative Startups and SMEs Fund (ISSF), Beyond Capital, Bank Al-Etihad, and GMS Ventures & Investments.


Applications for the program’s first four-month cycle are now open. Participating companies will have the opportunity to benefit from a cash seed investment of up to JOD 50 thousand each, together with potential follow-on funding of up to JOD 120 thousand. In addition to attractive funding opportunities, startups will benefit from the Flat6Labs Amman seed program. The program will run over a five-year period and is set to deliver a host of benefits to between 14 and 18 startups every year, including office space, world-class mentorship and access to Flat6Labs’ regional network. 

The program is specifically targeted at 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 Payments, Media, and Entertainment. Each of the selected startups will receive tailored support designed to help them scale and grow their businesses, with the long-term goal of creating regional, and ultimately global, champions. 


Participating companies will also benefit from opportunities for regional exposure and mentorship through Flat6Labs’ extensive international network, together with coaching from established business leaders. Each startup will be paired with at least three highly experienced mentors. In addition, Flat6Labs Amman will arrange Demo Days, support fundraising and business build-out, and deliver a full spectrum of support designed to help new businesses flourish.


Ramez El-Serafy, Flat6Labs CEO, commented: “We are delighted to expand our presence into Jordan with the launch of an early-stage fund and seed program, which creates exciting opportunities for local startups. As the region’s leading seed and early-stage venture capital firm, Flat6Labs is well placed to support the aspirations of the Kingdom’s talented entrepreneurs and help them take their businesses to the next level. We aim to support the growth and development of Jordan’s start-up ecosystem, and thus contribute to a thriving national economy.”

Rasha Manna, General Manager of Flat6Labs Jordan, added: “Jordan is home to a pool of talented entrepreneurs who are ready to showcase their ideas to the world. We provide foundational support to startups through funding, mentorship and networking opportunities across the region and beyond. We are excited to now open applications for our first cycle and look forward to starting work with Jordan’s most promising startups in the very near future to help them effectively scale and grow their business.”

 Laith Al-Qasem, CEO at ISSF shared: “ISSF has been mandated to improve the Jordanian entrepreneurial ecosystem through acting as a fund of funds and through facilitating the creation of new funds to serve the investment needs of entrepreneurs and start-ups along their journey towards success. Flat6Labs fills an important gap and role by providing studied equity capital starting from seed stage accompanied by competent hands on incubation and mentoring which will facilitate speedier and more focused growth in the investments they make.”

“Jordan is an attractive market for entrepreneurship and early-stage capital given its young and increasingly urban population, high rates of technology adoption, and increasing government support,” said Abdullah Jefri, IFC’s Country Manager for the Levant “Addressing the funding gaps will help build a robust startup ecosystem to tap into this potential and spur innovation and economic growth in Jordan and the region.”

Launched in 2011, Flat6Labs has grown to become the MENA region’s leading startup accelerator managing seed funds with a total AUM of more than $85 million. The company has run over 40 seed program cycles, funding the creation and seeding of more than 320 companies. Approximately 40% of Flat6Labs’ graduating companies have succeeded in securing follow-on rounds of funding from regional and global institutions and individuals at higher valuations, translating to an unrealized IRR in excess of 25%.


Applications for the Flat6Labs Amman Seed Program are open now. To find out more, please click below.


Flat6Labs Closes EGP 207 Million of its FAC Egypt Fund, and Increases Cash Offering for Startups

From Left to right: Dina El Shenoufy (CIO, Flat6Labs), Ramez El-Serafy (CEO, Flat6Labs), Marie Therese Fam (Managing Partner, FlatLabs Egypt), Albert Malaty (Managing Director, Flat6Labs Egypt)

Flat6Labs, a regional Seed Program and Fund, announced today the second close and increase of its Egypt fund from EGP50 million to EGP207 million, to support Egyptian early-stage startups. Flat6Labs has also announced that it’s raising its cash seed offering for its Cairo Seed Program to up to EGP1.5M, and up to EGP3M in post-program follow-on funding for selected startups.

The Flat6Labs Accelerator Company (FAC) Egypt fund was launched in 2017 to invest in 100+ innovative startups across Egypt over the span of five years, with a focus on tech-enabled solutions. Over the past three and half years of the investment period, the Flat6Labs Cairo Seed Program has run 7 cycles, invested in 62 startups, trained over 350 founders, and created over 1,000 jobs – 96% of which are youth between the ages of 19-35. Around half of Flat6Labs’ portfolio companies in Egypt have received follow-on funding with a total of EGP145,000,000.

The FAC fund’s existing Anchor Investors include the International Finance Corporation, the MSME Development Agency, the Egyptian American Enterprise Fund, and Egypt Ventures, who have all increased their commitments in the FAC fund to support more early-stage technology startups in Egypt. Sawari Ventures, the latest significant investor in the FAC fund, has also participated in the second close of the fund.

Wael Amin, Managing Partner at Sawari Ventures, said “Flat6Labs Egypt plays an integral role at the seed stage within the local and regional ecosystems; successfully providing the foundational support startups need through funding and mentorship, which is appealing for us. At Sawari Ventures, our fund strategy has always been to allocate a percentage of our fund to the seed stage which is a completely different proposition in terms of process, culture, and support needed. As investors in Flat6Labs Accelerator Company, we get the opportunity to profitably participate in Egyptian companies at a very early stage, get early indicators on ecosystem trends, and visibility into the ecosystem.”


Argineering’s Team, a startup that FAC invested in, at their office.

Marie-Therese Fam, Managing Partner at Flat6Labs Egypt, said “I am extremely proud of our fund’s second close and the incredible support we have received from all our investors.

“Flat6Labs is participating in the development of the startup ecosystem in Egypt. We are proud to support them in helping our community embrace the digital economy”, added Ahmed Gomaa, CEO of Egypt Ventures.

Highlighting Flat6Labs’ role in nurturing a promising startup ecosystem and closing the financing gap for entrepreneurs in Egypt, James Harmon, Chairman of the EAEF, said “We believe that startup accelerators are instrumental to building a robust entrepreneurial ecosystem, we are proud of Flat6Labs’ efforts and role in building the startup ecosystem in Egypt and will continue to support them as they fill an important financing gap in the market.”

Chefaa’s team, a startup that FAC funded, at their office

Hany Emad, Head of Central Sector for SME Finance at MSMEDA, added, “We consider Flat6Labs as one of our strategic partners and due to the success achieved during implementing the first close, we decided to increase our commitment to reach EGP 35 million.”

“We are very excited to expand our partnership with Flat6Labs and increase our commitment to up to $2.5 million. We invested in Flat6Labs back in 2017 as part of IFC’s Startup Catalyst program and have since supported its growth and expansion in Egypt and more broadly in the region,” said Walid Labadi, IFC’s country manager for Egypt, Libya, and Yemen.

Flat6Labs Egypt will continue to support bright, passionate, and tech-driven entrepreneurs in Egypt, by providing funding, technical assistance, and networking opportunities across the country and beyond. Flat6Labs Egypt thus continues to be a pillar of the digital transformation of the Egyptian economy building successful, job-creating startups contributing to the overall economic growth in Egypt.

Applications are now open for Flat6Labs’ Cairo Seed program, apply here.

DisruptAD and Flat6Labs Launch Ignite In Abu Dhabi, an AED 120m Seed Program

DisruptAD, one of the region’s largest venture platforms, is partnering with Flat6Labs, MENA’s leading seed investor and the largest manager of startup programs in the region, to launch Ignite, a new start-up accelerator in Abu Dhabi that will support early stage companies with AED 120 million in funding and other benefits including office space and mentorship.

The program is part of DisruptAD’s broader mission to support and nurture 1,000 start-ups over the next five years and create a thriving local community of founders, fund managers, incubators and accelerators in Abu Dhabi. Ignite will be the first of many such accelerator partnerships for DisruptAD.

The launch of Ignite in partnership with Flat6Labs underpins DisruptAD’s long-term desire to maximize value creation and deliver long-term economic benefits for the UAE by seeding businesses that are technology pioneers and change leaders.

The program will run over a three-year period, investing in 20 startups every year. Applications for the first cycle will be open until 30th of April 2021, offering participating companies the opportunity to benefit from a seed investment worth up to AED 550,000, together with follow-on funding of up to AED 2 million. Startups will also receive tailored support designed to help them effectively scale and grow their businesses to become regional champions and ultimately global champions.

As part of the Ignite program, startups will benefit from opportunities for regional exposure and world-class mentorship through Flat6Labs’ international connections and top-tier coaching. These companies will also enjoy access to DisruptAD’s network and resources. The program will organize Flat6Labs Demo Days, support fundraising and business build out, and ultimately offer the full spectrum of support needed for start-ups to thrive and flourish in Abu Dhabi.

Ramez El-Serafy, Flat6Labs CEO, commented: “We are delighted to partner with DisruptAD for the launch of this three-year program. Flat6Labs’ presence in Abu Dhabi opens up exciting new possibilities, not only for this program but for the long-term evolution of Abu Dhabi as a global start-up destination. Together, we will harness our accumulated knowledge and experience to better serve the entrepreneurial ecosystem and create unique opportunities for promising startups.”

To find out more about Flat6Labs Ignite, please visit this link.

Flat6Labs Launches New Global Brand Identity

Flat6Labs, MENA’s leading seed and early stage VC, and manager of startup programs in the region, introduces a new streamlined visual brand identity and a new unified website. Given Flat6Labs expansive operations and impact across MENA over the past 10 years, the new brand identity is launched to ensure a consistent and enhanced experience for entrepreneurs, partners and investors alike across the region. 


As part of the unified brand language, Flat6Labs will now be identifying its flagship VC-backed programs as “Seed Programs” instead of “Accelerator Programs”, while still offering ticket sizes ranging from $50K to $500k, supporting startups through their early journeys from Pre-Seed all the way to Pre-Series A stages.


Flat6Labs also manages a  wide range of startup programs across the region, from bootcamps and incubation programs helping entrepreneurs spark and develop venture concepts, all the way to bespoke corporate accelerator  programs in different industry verticals enabling startups to build prototypes, and helping them access their target markets.


Ramez El-Serafy, Flat6Labs CEO commented: “Launching this new and unique brand identity is far from just a visual change. We are streamlining our operations across all our offices in MENA, bolstering our efforts to support more innovative entrepreneurs, and laying the groundwork for exciting developments in our offerings to startups and partners that we will announce very soon.”


With an active presence in six countries, Flat6Labs has invested in more than 300 startups to date with a combined investment value of around $35M, creating more than 8,000 jobs across a wide range of industries. Flat6Labs is currently managing a number of seed funds with total assets under management (AUM) exceeding $45M, with more than 20 leading institutional investors and Limited Partners (LPs).

To download the new Flat6Labs brand kit click here.

Flat6Labs Turns 9: A Journey Through Time With 9 Startups

Over the past 9 years, Flat6Labs has enabled the transformation of the startup ecosystem through the 290+ pioneering startups it has invested in, the 660+ founders it trained and mentored, and the 38 Demo Days that exposed the startups to investors, corporates and the media. Flat6Labs has also achieved its first exit in less than 18 months from date of investment; and it’s currently managing AUM of $45mn. Flat6Labs’ portfolio of companies have collectively raised almost twice their invested capital.

Currently, Flat6Labs stands as one of the most active early stage investors in the MENA region, and this wouldn’t have been possible without the team, the support of our partners and mentors, and the belief that the ecosystem has in Flat6Labs.

“Flat6Labs’ 9-year journey has been one that captured the very essence of our belief in the talents, skills, and passions of MENA’s aspiring entrepreneurs. The continuous support Flat6Labs has been capable of giving to its 290+ startups and the successes during the past nine years, wouldn’t have been possible without the amazing team of 50+ colleagues across six countries, 30+ LP investors in our funds and to the thousands of individuals who have believed in us, and in our mission to transform the region through innovation and entrepreneurship.” — Ramez El Serafy, CEO of Flat6Labs.

In hindsight, many of our startups enabled this success by showing great promise, and they have thus become renowned in their respective fields.Nine of these startups are Instabug, Simplex, Sawerly, Clearmove, Moneyfellows, Hawaya, Mint Basil Market, SINC, and GoMyCode.

Instabug (2012 — Flat6Labs Cairo)

Since Flat6Labs Cairo invested in Instabug in 2012, the bug-reporting platform has grown tremendously to provide its solutions to 25,000 companies across the globe and to have its solutions implemented in countless apps across 400,000,000 devices. Their one line of code has attracted tech giants like OnePlus, Ebay, Lyft, EA Sports, Philips, Soundcloud, and more.

Most recently, Instabug has received a Series A funding worth $5M from Accel ,an American VC firm, and other renowned angel investors. In an interview with Waya Media, Omar Gabr, Instabug’s Co-founder said, “We grew 120% in revenues in the last 12 months, adding dozens of Enterprise customers. We’ve always been running a disciplined business, we’re almost profitable for some time now. This is what made our fundraising fast in the middle of all the current events.”

In the upcoming few months, Instabug is aiming to release a number of new services into the ecosystem, as well as expand their operations and their team.

Simplex (2013 — Flat6Labs Cairo)

Simplex has been one of the first businesses in Egypt to create locally manufactured and assembled CNC machines. Being the pioneer it is at that, the likes of the Egyptian Ministry of Transportation and Schneider Electric have relied on their solutions, instead of depending on importing plasma machines and milling machines.

“We have exported a range of our machines to 12 countries so far, and we’ve opened a 5000m2 new factory in 10th of Ramadan, Egypt. Flat6Labs’ seed investment, connections, and continuous support have been paramount to our current success and future growth.” — Ahmed Shaaban, Simplex Co-founder

Sawerly (2014 — Flat6Labs Jeddah)

Sawerly is a Saudi-based online marketplace that connects photographers with potential clients. The startup’s growth over the past years has seen various photographers using their platform as a main source of stable income.

In an interview with Startup MGZN, the Co-founder, Hussein Attar shared “a few photographers are making about 10K SAR a month through our platform so far. We’ve also established a shop in the UAE in the hopes of positioning Sawerly as the go-to place for all photography solutions, and our latest partnership with Silkroad Images as well will allow photographers to sell their photos through our platform.”

Clearmove (2015 — Flat6Labs Abu Dhabi) (Previously known as Sakkini)

Clearmove (previously known as Sakkini) is a mobility platform that helps employers track, deploy, and manage their employees. Their solution has so far been adopted by 500+ entities, and they operate in 144+ countries. The startup has also spent around 150K hours into R&D and has hired over 70+ talents internationally. In 2016, the startup has raised $4m to expand its operations globally, to do more R&D, and develop more alliances internationally.

Moneyfellows (2016 — Flat6Labs Cairo)

The money circles app, MoneyFellows, has taken the liking of many in Egypt since it has transformed the time and effort consuming money-saving circles, into a technologically-enabled service. In 2020, the company raised $4m in a Series A investment from Venture Capital firms, Partech, and Sawari Ventures.

“We’re currently seeking to expand our efforts locally to other governorates in Egypt, and we also have plans to expand regionally by June 2021. You can also expect a line of new services to be launched by next year.” — Ahmed Wadi, Moneyfellows Co-founder

Hawaya (Harmonica) (2017 — Flat6Labs Cairo)

After Hawaya (Harmonica) joined Flat6Labs Cairo in 2017, they have quickly garnered the attention of individuals who are seeking serious relationships in Egypt. The match-making app has since gone to raise funding from both Flat6Labs and 500 Startups in March 2018 worth $150K to double-down on their algorithms and expand the reach of their mobile application.

In August 2019, the startup received an acquisition deal by the Internet Giant, Match Group, which gave Flat6Labs the opportunity to make its first major exit at a 16x return on investment in just over one year. The application later changed its name to Hawaya. Currently, they are expanding into different countries where match-making for serious relationships is desired.

Hawaya now has grown into 13 different markets and has helped over 3 million single Muslims begin their love journeys!

“We’re thrilled to announce that we were invited to ring the opening bell at the Nasdaq stock exchange, celebrating five years of Match Group as a publicly traded company on the US Stock Market and commemorating our success in fostering meaningful connections around the world!” — Hawaya Team

Mint Basil Market (2018 — Flat6Labs Beirut)

Mint Basil Market, The online marketplace for all-natural diet, beauty and household products has been making valiant efforts to impact the Lebanese community after its graduation from Flat6Labs Beirut. Currently, they have been hammering down on their new line of immunity products as COVID-19 sweeps the world. However, after Lebanon was struck with the explosion that took the lives of many and destroyed much of the city of Beirut, the startup took it as a mission to help the Lebanese people through sponsored donation packages to be sent to Arcenciel (a Lebanese based non-profit organization) and has shared a list of psychologists and organizations offering free psychological support. Currently, the startup has its sights set on UAE as a plan of expansion, and they will be joining Womena’s upcoming cycle.

“Flat6Labs has opened a lot of doors for us and we’ll always be grateful for how the team gave up parts of their office space so we could have a warehouse that wasn’t my bedroom in the early days of launching. They’ve also introduced us to one of our angel investors, and were a great support system during some of our most challenging moments. We’re really grateful.” — Vanessa Zuabi, Mint Basil Market’s CEO & Co-founder.

SINC (2019 — Flat6Labs Bahrain)

SINC acts as an employee management platform that helps employers track the activity of employees by recording staff time sheets, on-shift locations, HR notes, safety feedback and more.

In 2019, the company raised $250K in pre-funding. Now, the startup helps 4,000+ businesses manage and track their employees through their platforms in the UK, USA, as well as other countries. The startup has received seed funding from Flat6Labs Bahrain in Spring 2018.

“Flat6Labs were the first people outside of the founders to believe in SINC’s vision. Their early support enabled us to hire our first employees and go on to raise multiple rounds of funding. The connections we’ve made through Demo Day ended up leading to funding and are still influential advisors in our company today.” — Samuel Dolbel, SINC’s Co-founder.

GoMyCode (2020 — Flat6Labs Tunis)

GoMyCode was first funded by Flat6Labs Tunis in December 2019. Since they were funded they have gone to reach more of Tunisia’s coding society to help develop the capabilities of both youngsters and professionals. Their vision is to help create a high-end computer science education for everyone to fulfill their potential and realize their passion for building and shipping real products.

“We’re planning on launching 4 new Hacker Spaces, in Algeria, in Station F in France, Egypt, and Morocco. We’re also currently working on developing a new website and rebranding as well as working on launching a new tech channel: Most recently, we’ve raised $450K to further our growth and help with our expansion plans in the MENA region.” — Yahya Bouhlel, GoMyCode founder.

While innovation is at the core of Flat6Labs and its startups, it takes more than just innovation to success. Our startups across MENA have been resilient, passionate, and hardworking through many challenges, the latest of which is the pandemic. It is not just about innovation, it is also about execution and the continuous drive to bring something new to the table and to impact the community.

Flat6Labs Cairo Alumnus Argineering Launches RGKit Play to Enable Creatives & Designers Bring Their Stories to Light

On the 22nd of September, Argineering launched a crowdfunding campaign on Kickstarter to back up its newly launched RGKit Play that will allow designers, videographers, and creatives of all kinds to add movement in style with their newly launched kit. Support them on Kickstarter here.

The RGKit Play is a modular wireless kit consisting of motors that gives access to its user to modify movement and light using a phone app. Their app in the past has been known for its friendly, accessible, and easy to use interface; one of the key selling points of Argineering’s solutions. Besides that, Argineering plans to offer the new kit at affordable prices compared to competition.

“We’re so excited to see creatives play with movement like pros,” says David Erian, CEO & Co-Founder, “Launching RGKit Play on Kickstarter is a new chapter for us that we have been working towards, for such a long time. It’s a huge step to make RGKit Play accessible to all creatives.”

The kickstarter campaign that Argineering will be launching is to help the startup scale up the production and reach potential customers from all over the world. Currently, Argineering offers 5 kits with the beginner kit starting at $190.

Since joining the Flat6Labs Cairo accelerator program in August 2017, Agrineering managed to expand their product offerings and grow their client-base to include prominent global department stores such as Selfridges and Ted Baker in London; as well as, London’s Science Museum.

Given the considerable growth and progress in the size of their business, Argineering received follow-on investment from Flat6Labs and managed to raise a USD 400,000 Pre-Series A round led by 500 Startups. Throughout and post the program, Argineering won several competitions including “CBC’s Hona Al Shabab Competition” and “The Rise up Pitch Competition”.

Check out RGKit Play on Kickstarter:

Meet Five Flat6Labs Cairo Startups That Secured EGP150m+ During The Last Two Months

Over the past two months, our startups around the region have been facing an unprecedented challenge that is the COVID-19 pandemic. Operations, liquidity and employment have been affected in many industries, but just as these challenges presented themselves, many of our startups adapted to the situation. Five of these startups were capable of securing follow-on funding of over EGP150m in only two months: Brimore, Chefaa, Instabug, Moneyfellows, and VRapeutic.

Brimore (Flat6labs Cairo Cycle 11)

Brimore joined Flat6Labs Cairo 11th cycle, securing a seed fund from our program in Cairo. The startup, well known for its end-to-end distribution platform, caught the eyes of investors like Algebra Ventures and Endure Capital, who helped it raise $800k in seed funding. Lately, it was announced that Brimore had secured a Pre-Series A fund worth $3.5m. The round was led by Algebra Ventures, with the participation of Flat6Labs, Disruptech, Vision Ventures, and 500 Startups.

Chefaa (Flat6labs Cairo Cycle 10)

Over the past few years, Chefaa has been capable of providing lots of customers with much needed medication using their app-based service. After their graduation from Flat6Labs Cairo, Chefaa was capable of securing a six-figure seed round from 500 startups, Flat6Labs and other investors late 2018. A few weeks ago, they had secured their first 7-figure Pre-Series A round from 500 Startups,Vision Ventures, Womena, and other investors.

“We see Flat6Labs as partners of success and they have made it clear on more than one occasion that they invest in people. Their faith in us as founders has had quite the impact on our performance. That affected our business directly and thus catching investors’ eyes. They were among the first believers in our vision & mission. Although COVID-19 has proven to be a global challenge, it has highlighted the gap in the safe digitization of many health care services and with chronic patients at highest risk it just made sense that Chefaa rises to the challenge. We don’t see raising investment as privilege, we see it as proof of past achievement and responsibility towards more to come.” — Doaa Aref, CEO of Chefaa.

Instabug (Flat6labs Cairo Summer 2012 Cycle)

It has been around eight years since their graduation from Flat6Labs Cairo, but during this time, Instabug has been capable of securing well-known clients like Samsung, Paypal, Lyft, EA Sports, Sound Cloud, Vodafone, and more. The bug reporting software, was capable of raising $1.7m from Accel in 2016. This year, they had secured a whopping $5m in a Series A round; making it the largest funding round a Flat6Labs Startup has raised.

Moneyfellows (1864 Accelerator Cycle)

The money circles app, Moneyfellows, was capable of securing a $4m Series A round from Partech Partners and Sawari Ventures in June 2020. Moneyfellows was part of Flat6Labs Cairo x Barclayas 1864 Fintech cycle. This investment has happened shortly after they had raised over $1m in a Pre-Series A round from 500 Startups, Angel Investors, and the Phoenician Fund.

VRapeutic (Flat6labs Cairo Cycle 12)

A finalist at MIT Arab Startup Competition 2017, the winner of SingularityU MENA 2019 $60k competition, and most recently, the winner of the $100k UNICEF grant; this is VRapeutic, a startup that uses VR to help manage and treat patients with ADHD and the many forms of autism.

“Flat6Labs Cairo is a second family, and a place to grow, personally and professionally. It is an accelerator that supports, builds, and cares for its startups. Joining Flat6Labs Cairo is one of the best milestones that every Egyptian startup would want to achieve” — Ahmed Al-Kabbany, CEO of VRapeutic.

Recently, Flat6Labs Cairo had just graduated its Spring 2020 cycle that saw 8 innovative startups in an array of industries showcase their solutions in a digital space. If you are interested in knowing more about our startups, you can experience our Digital Demo Day here. You can also connect with our startups, by clicking here.

How Flat6Labs Startups Are Mitigating the COVID-19 Outbreak Hurdles

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Legwork: The startups that required the physical presence of someone to complete the service/product delivery/installation.
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Industry Breakdown

Around 62% of the startups in agritech require legwork, this is because the nature of the job itself demands the installation and maintenance of tech equipment that aid and makes their processes more efficient. Hence their ability to work at normal capacity is affected.

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Our main takeaways

The industries most negatively affected by this phenomenon were: transportation, travel, agritech, & logistics. On the other side of the coin Edtech, SaaS, Fintech, E-Commerce, & IT seem to be doing relatively well.

Flat6Labs in 2019: Wrapped Up!

Over the past years, the startup ecosystem in the MENA has witnessed some major changes; and since Flat6Labs’ launch 8 years ago, it has been taking part in this change through its continuous support for innovative startups in more than just one country: Bahrain, Beirut, Cairo, & Tunis. Through these programs, we have invested in 250+ startups over the past years, and 74 of them were in 2019 alone.

One of those 250+ startups is Harmonica, a conservative match-making app that got acquired by the internet giant, Match Group. It is actually the first MENA matchmaking company to be acquired. This acquisition also marked Flat6Labs first major exit, and while we were closing the exit deal in 2019, we’ve also launched the StartEgypt program in two cities: Alexandria and Assiut.

We believe our aspirations are just bigger than one year; however, as 2020 brings in both a new decade and a new year, it is about time that we dug deeper into all that we’ve achieved in 2019.

Flat6Labs growth rates have been exponential thanks to our programs, investors, mentors, and coaches across the region.

Our ability to expand into different countries and cities, has allowed us to reach more of MENA’s hungry entrepreneurial community, one that constantly seeks change, impact, and innovation. This meant that also as we grew, our networks grew and our startups ability to get funded increased significantly.

Our Startups

Flat6Labs has partnered with over 250+ startups across the MENA region in a multitude of industries since its launch in 2011. We truly believe in our startups, their teams, and in what they’re trying to achieve with brilliant products and services. We’re also proud to be their partners, hand-in-hand, throughout their entreprenuerial journey.

Nestled all over the MENA, are our programs that support and invest in startups from the idea, product and market stages alike. The tried and tested Flat6Labs programs cater for a wide array of MENA’s entrepreneurs. In 2019, we launched StartEgypt in two different cities: Alexandria and Assiut. We’ve also powered the Misk Innovation Startup Bootcamps in 5 different cities in Saudi Arabia, supporting a total of 90+ startups.

Our existence in these countries allows our startups to have access to different entreprenuerial and networking events where they can promote their services/products, pitch to investors, or take part in competitions.

The exposure and the network that our startups form at such events help them get funded, in turn allowing them to scale and grow and add new team members as illustrated. This helps the different economies of countries, as it translates into a higher chance at getting employed upon graduation.

Magnitt’s MENA Investment Summary of 2019 has also ranked us as the most active accelerator in the MENA region. With more than 80 startups graduating in one year around the region, and the number of investments we make into our graduating startups, we can’t see that changing anytime soon!

With the support of 20+ institutional investors all over the MENA region, we’re capable of pushing the our limits everyday and supporting more and more startups to grow and scale. We have over $45M in assets under management throughout our funds in the MENA region, from which we provide flexible investment ticket sizes that range between $50k — $300k.

Top 10 Things We’re Proud to Have Achieved in 2019

10+ Ways Our Startups Were Amazing in 2019

After being accelerated by Flat6Labs and launching its application two weeks before Flat6Labs Cairo 9th Demo Day, Harmonica grew tremendously in 1.5 years to close an acquisition deal with the internet giant, Match Group. Simultaneously, we made our first major exit with a 16x multiple.

Having graduated from the Flat6Labs Cairo Fall 2018, Brimore has established itself as leading channel of distribution for small local manufacturers who want to sell their products. Them receiving funds of $800k signifies that.

After graduating from Flat6Labs Abu Dhabi’s Spring 2015 cycle, the laundry startup, Washmen, was already on a path to becoming one of the leading laundry services in the UAE. Aimed at revolutionising the laundry industry, the startup has been racking up several funds with their latest being a series B round of $6.2m.

Dabchy has grown to be one of Tunis premier online destinations for shopping after their graduation from Flat6Labs Tunis’ cycle one. This has helped them reach over 400k customers in one year, and secure $300k in a seed round led by 500 Startups and joined by Flat6Labs, Saudi Venture Capital Company (SVC), Khobar-based Vision Ventures and Daal, and a group of angel investors.

Chefaa has graduated from Flat6Labs Cairo Cycle 10 with a purpose of making medication easily available everywhere in the country through an application in a timely manner. The’ve been incubated by StartEgypt, then accelerated by Flat6Labs, and they’ve won several competitions propelling them to raising a six figure number led by Flat6Labs and 500 Startups.

The Flat6Labs Bahrian graduated from cycle 2, SINC, has raised US$250,000 in a pre-seed funding round led by Dubai Angel Investors and other prominent regional angel investors. The funds will be used in the short-term to expand SINC’s development team and build out the job tracking functionalities that small businesses in North America desperately need.

Bekia, an online platform that exchanges waste for services, and a graduate from Flat6Labs Cairo Fall 2018 cycle has raised a six figure number ($) through the Oman Technology Fund after partaking in their Wadi OTF Accelerator programme.

One of Flat6Labs Bahrain’s first batch graduates, Dalooni (formerly, Inagrab) was capable of securing an investment from Faith Capital. The startup specialises in monetising the everyday individual as a channel of sales for other businesses.

After successfully graduating from Flat6Labs Bahrain’s first cycle, the Stories Studio was capable of securing a $70k fund from angel investor Mr. Faris Algosaibi.

With an aim to help those with ADHD and Autism progress through VR learning, VRapeutic, a Flat6Labs Cairo cycle 12 graduate, was capable of securing a $70k fund after winning the SingularityU MENA Competition.

  • Rumman Enrolled in Ahli Fintech Acceleration Program

Built around the idea of saving money and allowing users to invest their money in either large or very small quantities, Rumman’s novel solution, had them become part of Flat6Labs Beirut’s program. After their graduation from cycle 2, they were also accepted into the Ahli Fintech Acceleration program. Joining this accelerator will allow them to have access to Al Ahli Bank’s customers, they might receive a fund of up to $300k, and they will get mentorship and counseling from Al Ahli Bank’s top executives, all to ensure that their startup is capable of growing and scaling.

Cloudsale, the Flat6Labs Beirut 2nd Cycle graduate, was capable of qualifying for the final Pitch By The Pyramids competition powered by Riseup Summit. Three other startups from Cairo (Makwa), Beirut (Zima Cloud), and Tunis (Seemba) were among the finalists as well.

Reform Studio joined the Flat6Labs Cairo Spring 2014 cycle with an idea that would help Egypt and the world at large recycle waste to form furniture. They have successfully done so by creating a fiber called plastex. They got them to do a collaboration with Ikea on their Överallt collection to help save the environment,

Speetra has joined Flat6Labs Beirut’s third cycle with a dream to make 3D-printed fashion items that are eco-friendly. This year, they have collaborated with one of the world’s most famous designers to create a sustainable 3d printed gown.

Flat6Labs Trains 100+ Saudi Entrepreneurs at Misk Innovation Startup Bootcamps

5 Cities, 5 Bootcamps, 75+ Startups, 100+ Saudi Entrepreneurs Empowered by Flat6Labs

The Misk Innovation Startup Bootcamps powered by Flat6Labs program, was held late 2019 in five different cities across the kingdom to see that those with vision, ambition, and insight, get the best the MENA has to offer of mentorship, funds, and exposure to a local, regional, and international network of investors. After rounds of filtration from 900+ applications, the bootcamps held in Riyadh, Jeddah, Al Madinah, Khobar, and Al Qassim, saw over 90+ idea-stage startups; around 100+ entrepreneurs; and tens of mentors flocking the bootcamps.

The bootcamps hosted a number of sessions designed to introduce the participating startups on how to take their startups to the next level. Starting from design thinking, which helped startups formulate methods through which they can tackle complex problems; and moving on to customer acquisition, an essential ingredient of any successful startup. The mentors and coaches also provided sessions on how to create business and financial models, with the aim of setting clear revenue streams and aiding startups in the management of their resources. The sessions also contributed to the startups ability to define and accentuate the value they will be giving to their customers through value proposition sessions, and how to use growth-hacking to accelerate their penetration of the market and the realisation of the product/market-fit.

Knowing that well-rounded team is what drives the success of any startup, the program also hosted sessions on the best methods to allocate human resources that could drive the business forward. The program also brought legal experts who provided sessions on how to setup the startup in Saudi. Finally, and most importantly, through workshops designed to attract customers and investors, startups’ founders were trained to deliver amazing pitches.

The whole purpose of the Misk Innovation Startup Bootcamps powered by Flat6Labs is to enable aspiring entrepreneurs to create and innovate.

“I was capable of changing my startup’s strategy to suit my business needs and aspirations because of the mentorship that was provided during Al Madinah Bootcamp.” — Osama Al Motrfy, CEO of Waste Turn

We’ve taken it upon ourselves to ensure that the 75+ entrepreneurs attending our bootcamps across the kingdom, get the best mentorship and direction at such a critical stage in the startup’s life.

“I already learned a lot and it’s only been one day. Well organized, great trainers, and amazing energy” — Suhail Ahmed, CEO of Group4Less

Flat6Labs saw that each of the startups got the best support possible to help them venture and kick off innovative services and products through bringing in our team, and local and international mentors to help the startups ground their ideas. We’ve given Saudi entrepreneurs access to a number of essential tools that will help them succeed in the future and change the startup ecosystem starting from ideation sessions to design thinking and legal setup. Empowering such a drive of passionate entrepreneurs and raising awareness are at the core of why Misk kicked off its Misk Innovation Startup Bootcamps and the reason Flat6Labs powered it! This goal has been achieved, but it is just the start!

Flat6Labs saw that each of the startups got the best support possible to help them venture and kick off innovative services and products through bringing in our team, and local and international mentors to help the startups ground their ideas. We’ve given Saudi entrepreneurs access to a number of essential tools that will help them succeed in the future and change the startup ecosystem starting from ideation sessions to design thinking and legal setup. Empowering such a drive of passionate entrepreneurs and raising awareness are at the core of why Misk kicked off its Misk Innovation Startup Bootcamps and the reason Flat6Labs powered it! This goal has been achieved, but it is just the start!