20 startups make it to Misk 500 Accelerator's second batch in 2019
Priya Wadhwa
10x Industry

20 startups make it to Misk 500 Accelerator's second batch in 2019

The accelerator will invest $50,000 in each startup for 7% equity.

500 Startups partnered with Saudi Arabia’s Misk innovation to launch a startup accelerator in Saudi Arabia in the last quarter of 2018. The accelerator’s first cohort began early this year, culminating in a demo day on 13 May 2019. Following its success, the 500 Misk accelerator announced in June that they would be accelerating their second cohort in fall 2019.

They have now announced the names of the 20 startups that have been selected in the second cohort this year. Keeping the eligibility criteria in mind, the technology startups are either at Pre-seed or seed-stage in their growth, are based in the MENA region, and already have a product or service, even if it is live only in its beta state.

As per the accelerator’s agreement, they will invest $50,000 in each startup in return for a 7 percent equity share in the companies.

The programme is currently underway, with a demo day set for the 3rd of December 2019.

“Batch 2 of the Misk 500 Accelerator consists of a diverse group of startups coming from the MENA region, which includes companies from Saudi Arabia, Egypt, United Arab Emirates, Bahrain, and Jordan who are building technologies and products to impact B2B, B2C, E-Commerce, FinTech, EdTech, HealthTech, IoT, robotics, artificial intelligence, SaaS and messaging services.”

The 20 highly talented innovative list of startup companies currently participating in the accelerator programme, which is well underway, include:

  1. XCUTE is a MENA freelancing platform, which focuses on high quality freelancers in areas like design, IT, and translation.

  2. OTO is a newly established tech startup that’s building innovative solutions in the logis-tech industry to allow retailers convert their offline stores to online fulfillment centers and change the way orders are being fulfilled and delivered around the city!

  3. Hulexo is a SaaS company that automates the entire operations of a meal planning company.

  4. Funnelll is a no-code/low-code platform for companies to build and run SaaS products and online businesses that are tuned to acquire, engage and convert customers.

  5. Simplifai Labs is a marketing platform driven by artificial intelligence to target micro moments that matter by combining image, sentiment and emotional recognition that allows brands to reduce their digital marketing wastage by 30% and increase brand safety and communication relevancy by 99%.

  6. Tee Arabia is an online customisable items store that helps individuals and companies bring their ideas to life. From branding to corporate uniforms to simple birthday t-shirts, we have it all!

  7. YallaParking allows individuals, businesses and fleet managers to rent available private parking spaces through a monthly subscription.

  8. Akalati is a food app marketplace for parties, events and gatherings. We enable corporates and individuals to cater for all kinds of events.

  9. IN YOUR SHOE is a unique footwear producer & ecommerce platform focusing on creating diverse statement products to allow people to express themselves through fashion.

  10. WorkHint A web platform that connects companies with independent management consultants on demand.

  11. Spareslab is a digital procurement platform for industrial equipment and component parts focused on the shipping industry.

  12. Trteeb is a marketplace with the biggest pool of tailors, making the thobe buying experience easier, faster, trackable & transparent.

  13. Greenish Co. is an E-store that offers a vast array of healthy and organic choices, shipped quickly, inexpensively and directly to the customer’s door.

  14. ESARإيسار is a Jeddah based startup providing MENA’s region first peer to peer car rental marketplace.

  15. The Scalable CFO is an online platform that aims to leverage AI and Blockchain to match independent accredited Finance professionals to Small and Medium Enterprises, one-to-one in less than 48 hours.

  16. El-MAWKAA is an intelligent marketplace for construction industry materials to connect construction companies with suppliers.

  17. TechieMatter is a technical recruitment web solution, that delivers tech talents to employers quickly without hassle, thanks to our proprietary vetting system.

  18. Ordera is a mobile application that people can use to place and pay for their coffee and breakfast and pick them up on the go in less than a minute, whether from the counter or to be delivered to their cars.

  19. Telp (Teach + help), is an app that offers academic support through tutoring and academic program bookings, making it easier and more reliable to find qualified tutors at affordable prices. Telp is also tutors’ favorite tool to grow their business while focusing less on admin and marketing and more on teaching.

  20. StyleNow is an on demand beauty service providing beauty solutions to our users at the comfort of their own location.

Adding these 20 firms, 500 Startups now has over 120 investments in the Middle East and North Africa region.

The complete range of startups part of the programme indicate an interest in broad spectrum accelerators in Saudi Arabia and their intentions to diversify their economy while boosting multiple sectors; especially with the two accelerators running in the same year.