Flat6Labs Bahrain completes 6th cycle and invests in 8 startups
Flat6Labs Bahrain has successfully completed its 6th Cycle, where 8 startups took part in the 4-month acceleration programme and received an investment of $32K each.
The 6th Cycle received over 200 applications from more than 50 countries which were then narrowed down to a final selection of 8 startups that consisted of teams addressing problems with unique solutions across an array of industries, including Prop Tech, Fintech, Entertainment, E-Commerce, and Enterprise Software.
Having completed the programme, the startups will be showcasing their businesses in the accelerator’s Sixth Demo Day on the 23rd of February.
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Meet the startups who received funding
• Absolute Collateral - a capital markets trading platform in local sukuk and international collateral for global institutional clients.
• FACEKI - a facial recognition authentication platform.
• My Gold Souq - a direct-to-consumer jewelry e-store, from Bahraini factories and supplied to consumers without the retail markup
• Mywave - an audio social network with a focus on self-reflection and personal development.
• Raseed - platform to buy and sell fractional (and full) shares in listed entities in the US stock markets with zero commission.
• Recomend - helps leverage social proof throughout the buyer journey to increase trust and engagement with short videos.
• SessionForward - provides automatic product improvements, based on the analysis of users' behaviors.
• uRento - helps small to medium-scale landlords manage their properties from a single platform.
Ali Fakhro, Managing Director of Flat6Labs Bahrain said, "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. 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."
Since its launch in 2018, Flat6Labs Bahrain has aided in the creation of over 200 jobs and invested thousands of hours in mentoring and coaching startups, expanding the reach of its portfolio in the GCC market and supporting them with raising over $2.2M in follow-on funding. Flat6Labs Bahrain’s portfolio also includes young Bahraini founders as the accelerator works on empowering Bahraini youth by investing in their ideas.
Flat6Labs is an active Seed investor and startup accelerator programme that fosters growth, investing in bright and passionate entrepreneurs with cutting-edge ideas. It provides Seed funding, strategic mentorship, a creative workspace, along with a multitude of perks and entrepreneurship-focused business training. In addition, it directly supports startups through an expansive network of partner entities, mentors, and investors.
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