Startups

Flat6Labs Bahrain graduates eight startups in latest funding cycle

Read more at gulfbusiness.com

Eight startups have graduated from Flat6Labs Bahrain’s latest cycle, receiving an investment of $32,000 each.

Having completed Flat6Lab’s four-month acceleration programme, the startups will be showcasing their businesses in the accelerator’s Sixth Demo Day on the 23rd of February.

This 6th Cycle received over 200 applications from more than 50 countries that were then narrowed down to a final selection of eight startups that consisted of teams involved in various industries, including prop tech, fintech, entertainment, e-commerce, and enterprise software.

Read: Gulf fund raises $75m for Mideast, North African startups

Since its launch in 2018, Flat6Labs Bahrain says it has aided in the creation of over 200 jobs and invested thousands of hours in mentoring and coaching startups while supporting them with raising over $2,200,000 in follow-on funding. This startup portfolio also includes young Bahraini founders, part of the accelerator’s mission to support innovative Bahraini youth.

“This has been one of our most interesting cycles as it includes innovative startups that have already achieved traction or are ready to be deployed in the market, including fintech startups with fascinating concepts,” said Ali Fakhro, managing director of Flat6Labs Bahrain.

“With the support of our partner Tamkeen, we have invested $1.4m in 44 startup companies integrated in Bahrain. We look forward to continuing our integral work in supporting the growth of the Kingdom’s startup ecosystem.”

Flat6Labs is one of MENA’s most active seed investor and startup accelerator programmes. It provides seed funding, mentorship, workspace, along with entrepreneurship-focused business training. Also, it directly supports startups through a network of partner entities, mentors and investors.

Read more at gulfbusiness.com

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