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COTU Ventures Launches $54M MENA Startup Investment Fund

The industry-agnostic fund focuses on supporting founders from the inception of their idea through to post-product launch.

Published

10 months ago

on

cotu ventures launches $54 million mena startup investment fund
COTU Ventures

COTU Ventures, which stands for Champions of the Underdog, has announced that it has raised $54 million to invest in what it calls “extraordinary founders” in the MENA region.

In a philosophy that explains the firm’s unique name, COTU will help startups at the earliest stages of their journeys, investing at the pre-seed and seed stages, where founders often have difficulty attracting attention from backers.

“I’ve been a part of the regional ecosystem since 2008, and it’s come a long way since then,” explained Amir Farha, founder and GP of COTU Ventures. “Saudi Arabia has opened up internationally, and governments have been driving policies and investment to activate the technology sectors of their local economies. We have a growing young population of tech-savvy, digitally connected consumers with substantial spending power. When you combine this with remarkably low customer acquisition costs and some of the highest revenues per user, there has never been a better and more profitable time to invest in the region than today”.

The fund from COTU is industry-agnostic and instead focuses on identifying and supporting the most talented founders from inception to post-launch. So far, the firm has invested in over 20 early-stage startups, including mortgage platform Huspy, UAE-based ResTech company Supy, and Sirdab, a leading Saudi storage and warehouse management platform.

Also Read: The Cloud Secures $12M For GCC And European Expansion

“Our partnership with COTU Ventures has been a cornerstone of Sirdab’s journey,” enthused Naif Alzahri, the startup’s founder. “Amir and the entire COTU team have contributed a wide array of expertise that has significantly enhanced our strategic, technical, and operational frameworks. Their unique approach to collaboration is rare to find [and the] foundation of trust and mutual understanding not only highlights the extraordinary nature of our relationship with COTU but also makes us eternally grateful for their support”.

COTU’s distinctive approach is rooted in the conviction that an individual’s early years serve as a barometer for their potential success as an entrepreneur. The firm believes there is a profound impact from decisions made during a startup’s infancy, and to that end equips founders with valuable resources, perspectives, and connections to better navigate their entrepreneurial journeys.

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UAE Prepares To Launch Two Satellites: Thuraya-2 And MBZ-SAT

HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum chaired the first meeting of the Supreme Space Council yesterday.

Published

5 days ago

on

December 17, 2024

By

uae prepares to launch two satellites thuraya-2 and mbz-sat

HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister of the UAE, chaired the first meeting of the Supreme Space Council in Dubai on December 16, 2024. The session highlighted the UAE’s ambitious space plans and took stock of the sector’s economic progress.

The council emphasized the growing role of private companies in advancing space technologies, noting that their contributions are now equal to that of the public sector. Members also praised initiatives like the Space Economic Zones Programme, which are designed to fuel innovation and investment in the space industry.

Discussing the UAE’s space journey, HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum remarked, “The national space sector continues to grow and advance, and we take immense pride in the remarkable achievements we have accomplished over the years”.

Sheikh Hamdan also received updates on two upcoming satellite projects: Thuraya-2 and MBZ-SAT. Thuraya-2, developed by Space42, is slated for launch this December. Meanwhile, the MBZ-SAT, created by the Mohammed Bin Rashid Space Centre (MBRSC), will soon follow. MBRSC, a major driver of the UAE National Space Programme, continues to lead the nation’s space-related developments.

Space42 took the opportunity to showcase its advancements, including ongoing collaborations between public and private entities. The company also outlined strategies to promote innovation, boost revenue streams, and create new opportunities for growth in the sector.

Also Read: IBM Opens New Doha Office To Support Qatar’s Digital Growth

The UAE’s current projects build on a growing legacy of space exploration. Back in 2020, the nation made headlines with its Mars mission, successfully sending a probe into the planet’s orbit in 2021. This mission, which is now in its second phase as of June 2024, has been collecting critical data to develop a comprehensive diurnal image of Mars.

The UAE also ventured into lunar exploration with an unmanned mission aimed at studying untouched regions of the Moon’s surface. While the probe ultimately crashed during its landing attempt after communication was lost seconds before touchdown, the effort represented a significant step in the country’s exploration ambitions.

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