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Startup Funding At Abu Dhabi’s Hub71 Reaches $871M
According to the deputy chief executive, companies within the organization have generated over $680 million and created hundreds of direct jobs.
Hub71, Abu Dhabi’s global technology ecosystem, has raised more than $871 million in funding for startups and created 800 jobs since its creation in 2019, until September of this year, according to the latest figures. The organization now boasts around 200 members, and is contributing significantly to the region’s economy, intending to grow 20 startups into companies worth over $1 billion.
“There was a resurgence in investor interest at Hub71 after the effects of the COVID-19 pandemic wore off. The momentum has been helping the ecosystem and partner network to support Abu Dhabi, which is increasingly positioning itself as one of the global epicenters of technology. There was a huge thirst to get out there to engage with partners to identify opportunities, and that momentum continues to this day,” says Ahmad Alwan, Hub71 deputy chief executive.
Abu Dhabi has invested heavily in initiatives that contribute to technology and innovation, and Hub71, in particular, is helping the country to promote entrepreneurship as the UAE government aims to become “the entrepreneurial nation by 2031“.
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Globally, the money generated by startups is close to $3 trillion — a staggering figure that almost matches the output of the G7 economy — Mr. Alwan said Hub71 had “several initiatives in the pipeline that are being planned with its partners”, which are rumored to include wealthy venture capital companies and funds, with the hope that one day, a local Abu Dhabi startup will become a global technology corporation.
Hub71 is open to the idea of expanding its “bilateral relationships” with partners in different regions, though right now, the ecosystem is focused on helping to develop its member companies by taking advantage of its existing partnerships.
In August, Hub71 welcomed 16 new startups to its platform and recently joined forces with Siemens Energy to support Abu Dhabi’s fight against climate change.
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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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