StartLabz, the venture arm of Startappz announced that it has secured $200K of Seed funding for two tech-enabled startups in Jordan through its angel investor network. GasNas, a mobile application that focuses on helping people get gas delivered to their homes quickly and efficiently, and Unihance, a platform that offers users access to online courses in Arabic. The investors were not disclosed.
StartLabz is an early Pre-Seed incubator that focuses on tech-enabled entrepreneurial ideas in Jordan and the region. The virtual event connected angel investors from across the globe with five startups who pitched their innovative ideas to the 40 angel investors during the event. The five startups covered multiple industries, including Media & News, Fintech, Healthtech, Edtech, and Energy & Gas. Two of the startups were able to secure their full investment requirement from the event.
Co-Founded by Mostafa Sadeq, GasNas connects user and gas providers by live tracking services through its mobile application. Users order the gas jar immediately and are connected to the nearest gas provider, with live tracking on a map available until it reaches the user's door.
Co-Founded by Ahmad Obeidat, Unihance is an Arabic self-paced e-learning social platform that addresses the gap of a lack of Arabic focused e-learning platforms. In addition to this, they address the lack of peer to peer e-learning platform within K-12, higher education, and corporations.
This announcement highlights the importance of holding activities that contribute to the startup ecosystem, especially after the decrease in investment appetite caused by the recent COVID-19 pandemic and the impact it had on the economy.
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StartLabz are firm believers that there is a demand for small-ticket angel investment opportunities in the region, and the success of the virtual pitch event, they believe validates this assumption. A significant number of individuals have extra savings set aside, and are looking for ways to invest this money. Startlabz is working on expanding the angel network in the region by providing those investors with the information they need to enter the early-stage high-risk capital investment market.
Rama Dawod, Managing Director of Startlabz commented, “We believe that there is great potential for this kind of angel network to develop in the region. Many individuals with extra savings are looking for the kind of opportunities that are available in our startup ecosystem but lack the knowledge needed to follow through. This is where we come in. At Startlabz, in addition to working with startups to help them connect with investors, we are providing investors with the information and knowledge they need to understand angel investing better.”
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