News
Egypt’s Flat6Labs Picks 24 Startups For Growth Track Program
The initiative is known as StartMashreq, and welcomes companies from the FinTech, eCommerce and HealthTech sectors.
Flat6Labs, the Cairo-based venture capital company, has chosen 24 companies for its StartMashreq Growth Track program, which aims to boost early-stage startups in the Middle East and North Africa region.
The startups from Jordan, Lebanon, and Iraq operate in sectors including FinTech, HealthTech, AgriTech, and eCommerce. In addition, five of the chosen companies were cofounded by female entrepreneurs.
Collectively, the winning startups generate annual recurring revenue of over $20 million and have raised nearly $40 million in funding, according to Flat6Labs. Perhaps most importantly, the 24 companies in the StartMashreq program have also generated around 700 job opportunities.
“We are confident that [the startups] have what it takes to succeed in their markets. Through our program, we will offer them tailored support and guidance to help them overcome their challenges and achieve their goals. We look forward to working with them over the next six months and beyond,” said Ragia Amr, program director of StartMashreq at Flat6Labs.
Started in June, StartMashreq will run until December 2024, giving the selected startups access to new markets plus allowing them to scale operations and increase their impact on their respective economies.
As for the program itself, StartMashreq will include workshops and mentorships by international experts, networking events, and roadshows.
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Since its launch in 2011, Flat6Labs has been a major player in the MENA region’s entrepreneurial scene, managing a number of seed funds whose assets exceed $95 million.
In February, Flat6Labs announced a $20 million startup seed fund in Saudi Arabia aimed at supporting entrepreneurs in the Kingdom by investing in early-stage startups in the technology and innovation sectors.
The selected startups are:
Lebanon
- Compost Baladi: A social enterprise that provides waste management solutions.
- Ecomz: An e-commerce platform that enables merchants to create online stores.
- KamKalima: An edtech platform that helps Arabic teachers and students.
- Moodfit: An online interior design service that connects clients with designers.
- Presentail: An online gift delivery service that connects expats with local shops.
- Purpl: A proptech platform that simplifies property management.
- Shelvz: A retail intelligence platform that helps brands optimize their shelf presence.
Iraq
- KESK: A fintech platform that provides digital banking services.
- Lezzoo: A super app that offers delivery, e-commerce and payment services.
- Midient/Padash: A cloud kitchen platform that enables food entrepreneurs to launch online brands.
- Orderii: An online marketplace that connects customers with local service providers.
- Toolmart: An e-commerce platform that sells tools and hardware products.
Jordan
- Algebra Intelligence: A healthtech platform that provides AI-powered medical diagnosis.
- Arab Therapy: An online platform that connects users with licensed therapists.
- Dinarak: A fintech platform that offers mobile wallet and payment services.
- Hello World Kids: An edtech platform that teaches coding to children.
- InvoiceQ: A fintech platform that provides invoice financing solutions.
- Jordilight: An energy tech company that produces solar-powered street lights.
- Konn Technologies: A fintech company that offers blockchain-based solutions.
- Little Thinking Minds: An edtech company that creates digital learning products for children.
- Nestrom: An agritech company that provides farm management software.
- Palmear: An e-commerce platform that sells handmade products from local artisans.
- Repzo: A mobile CRM platform that helps sales teams manage their activities.
- Shop4Me: An e-commerce platform that delivers groceries and other products.
News
Rabbit Expands Hyperlocal Delivery Service In Saudi Arabia
The e-commerce startup is aiming to tap into the Kingdom’s underdeveloped e-grocery sector with a tech-first, locally rooted strategy.
Rabbit, an Egyptian-born hyperlocal e-commerce startup, is expanding into the Saudi Arabian market, setting its sights on delivering 20 million items across major cities by 2026.
The company, founded in 2021, is already operational in the Kingdom, with its regional headquarters now open in Riyadh and an established network of strategically located fulfillment centers — commonly known as “dark stores” — across the capital.
The timing is strategic: Saudi Arabia’s online grocery transactions currently sit at 1.3%, notably behind the UAE (5.3%) and the United States (4.8%). With the Kingdom’s food and grocery market estimated at $60 billion, even a modest increase in online adoption could create a multi-billion-dollar opportunity.
Rabbit also sees a clear alignment between its business goals and Saudi Arabia’s Vision 2030, which aims to boost retail sector innovation, support small and medium-sized enterprises, attract foreign investment, and develop a robust digital economy.
The company’s e-commerce model is based on speed and efficiency. Delivery of anything from groceries and snacks to cosmetics and household staples is promised in 20 minutes or less, facilitated by a tightly optimized logistics system — a crucial component in a sector where profit margins and delivery expectations are razor-thin.
Despite the challenges, Rabbit has already found its stride in Egypt. In just over three years, the app has been used by 1.4 million customers to deliver more than 40 million items. Revenue has surged, growing more than eightfold in the past two years alone.
Also Read: Top E-Commerce Websites In The Middle East In 2025
CEO and Co-Founder Ahmad Yousry commented: “We are delighted to announce Rabbit’s expansion into the Kingdom. We pride ourselves on being a hyperlocal company, bringing our bleeding-edge tech and experience to transform the grocery shopping experience for Saudi households, and delivering the best products – especially local favorites, in just 20 minutes”.
The company’s growth strategy avoids the pitfalls of over-reliance on aggressive discounting. Instead, Rabbit leans on operational efficiency, customer retention, and smart scaling. The approach is paying off, having already attracted major investment from the likes of Lorax Capital Partners, Global Ventures, Raed Ventures, and Beltone Venture Capital, alongside earlier investors such as Global Founders Capital, Goodwater Capital, and Hub71.
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