News

New Club Allows You To Invest In Lebanese Startups For Just $50

The close-knit group will allow worldwide financial backers to support vetted, high-potential, home-grown Lebanese businesses.

Published

6 months ago

June 4, 2024

Nour Nasir

new club allows you to invest in lebanese startups for just $50

Berytech

In spite of its troubled economy, Lebanon is home to a burgeoning tech scene and is rapidly becoming a hub for startups and local talent outsourcing.

However, although the country has plenty of potential to shine on the world stage, so far, financial backers and venture capital firms have been slow to invest.

To that end, the leading online source for all things Lebanon, 961, has decided to take action. The result is a new Investor Club where financial backers can support Lebanese startups, helping to reduce unemployment and ignite the growth of a clean economy.

For as little as $50, investors can be part of a close-knit club that will allow them to back vetted, high-potential, home-grown Lebanese founders.

Here are some of the opportunities that the 961 Investor Club is offering local startups:

Tech & Digitalization: Innovations that drive digital transformation.
Solving Day-to-Day Problems: Practical solutions to improve day-to-day life.
Proven Startups Looking to Grow: Established local companies aiming to scale.
Companies Looking to Expand Abroad: Businesses preparing to enter new markets.
Taking Concepts/Franchises Abroad: Growing Lebanese brands globally.

Startups based abroad may be eligible for funding, but they’ll need to pass specific criteria. For example, companies must demonstrate potential for significant growth, maintain and keep a sizable team in Lebanon, and prioritize Lebanese hires wherever possible.

Also Read: Top 10 Best Freelance Platforms In The Middle East

In addition to the ever-popular tech startups, investors will also be able to back local restaurants, food trucks, nightlife venues, retail outlets, and franchises.

Experts will rigorously vet all businesses before they are presented to the 961 Investor Club, and members can choose to invest in whatever opportunities interest them most.

How To Join

Head over to the 961 website and fill out the form to join the club and be part of a private WhatsApp group. Alternatively, if you’re one of the Lebanese startups looking for a funding opportunity for your business, you can apply here.

News

Popcorn AI Raises $500,000 For “Conversational eCommerce”

The firm’s AI platform uses specialized chatbots to handle entire eCommerce journeys, from recommending products to seamless payments.

Published

6 days ago

November 14, 2024

Nour Nasir

Popcorn AI

Dubai-based Popcorn AI has announced the closure of a pre-seed funding round that raised $500,000 for its revolutionary AI platform. The investment, led by Spring Studios with the backing of Salica Investments, Al Waha Fund of Funds, and prominent angel investors from Saudi Arabia, represents a key step forward in reshaping customer-business interactions using the power of conversational AI.

Unlike traditional chatbot systems, Popcorn AI’s platform is designed to redefine eCommerce by creating highly intelligent sales agents that handle entire customer journeys, from personalized product recommendations right through to seamless payment acceptance — all through a conversational experience.

The clever idea was recently tested to great success when one of Popcorn AI’s chatbot agents closed a $400,000 real estate transaction, handling everything from the first inquiry to the final sale. Early adopters have reported a massive 90% reduction in customer acquisition costs, along with a highly impressive 20% improvement in conversion rates, highlighting the platform’s potential to transform customer engagement across dozens of industries.

Josh Rodger, Principal at the Spring Studios fund, expressed enthusiasm for the project, saying, “We are proud to support Popcorn AI’s mission to reshape how businesses connect with their customers. Their innovative approach to conversational commerce has the potential to revolutionize industries and redefine the way customers experience digital transactions”.

Also Read: Top Free AI Chatbots Available In The Middle East

Meanwhile, Popcorn AI founder and CEO Yousef Al Arif declared: “The future of commerce is conversational,” adding, “Today’s consumers want shopping experiences that are instant, personalized, and effortless. We’re not building just another chatbot; we’re crafting intelligent commerce agents that understand context, recall customer preferences, and guide users through the entire shopping process, much like an expert salesperson would”.

Building upon a decade of experience scaling eCommerce and marketplace platforms across the MENA region, Al Arif has now achieved huge success with Popcorn AI, positioning the product at the cutting edge of AI-powered eCommerce. The platform has also made significant impacts in sectors such as real estate, and hospitality, signaling that conversational commerce is emerging as a powerful new model for digital businesses.