Category Archives: Business

Culture Circle Makes History on Shark Tank India: Gen Z Founders Choose Vision Over Record-Breaking Rs8 Crore Offer

New Delhi, India – Culture Circle, India’s #1 Hype and Luxury App, has taken the Shark Tank India stage by storm. During their pitch, the dynamic founders, Devansh Jain Nawal (IIM Ahmedabad, ex-Goldman Sachs) and Ackshay Jain (JIIF Gurgaon Convenor, Ex-Google), not only impressed the sharks with their groundbreaking approach to authenticated luxury fashion but also made history. The young entrepreneurs received the highest-ever offer on Shark Tank India—₹8 crores—but chose to accept a more strategic investment of ₹3 crores for 3% equity from Kunal Bahl (Snapdeal) and Ritesh Agarwal (OYO).

Founded in 2023, Culture Circle has swiftly become the go-to platform for Gen Z luxury enthusiasts, offering India’s largest collection of verified sneakers, streetwear, and high-end fashion at guaranteed lowest prices. The platform’s proprietary AI-driven authentication system (https://www.culture-circle.com/verification), SourceX, has set new standards for trust and quality in the luxury market, ensuring every product undergoes a rigorous five-step verification process. This commitment to quality has earned consistently positive Culture Circle reviews from its growing community.

“Culture Circle was built to solve one of the biggest challenges in luxury fashion—trust,” said Devansh Jain Nawal, Founder & CEO of Culture Circle. “Our goal is to make authentic luxury accessible to all, and this milestone on Shark Tank validates our mission and hard work.”

The pitch showcased the platform’s phenomenal growth, achieving over one million monthly users and building a loyal community of 190K followers across social media in just 11 months. The sharks were particularly impressed by the founders’ achievements at just 26 years old, with Namita Thapar highlighting their credibility by saying, “Sanjeev Bikhchandani invests in only the best entrepreneurs, and you’ve proven why.”

Culture Circle’s reputation as India’s leading luxury fashion marketplace is backed by Info Edge Ventures, which recognized the founders’ passion for sneakers and commitment to delivering authentic products. Culture Circle’s unique “compare and shop” feature allows users to access exclusive deals from thousands of globally verified sellers, offering brands like Nike, Adidas, Louis Vuitton, Dior, Supreme, and Yeezy at unbeatable prices. Customers can now buy authentic sneakers in India with confidence and access sneakers at the lowest prices in India.

From its verified collection of iconic sneakers such as Air Jordans, Yeezy, Balenciaga, Common Projects, and Dunk Low to its wide variety of luxury handbags, sunglasses, jackets, dresses, and emerging streetwear labels, Culture Circle offers something for everyone. Coveted names like Louis Vuitton, Dior, Jacquemus, Gucci, Prada, and Fendi are just some of the highlights in its curated selection. This commitment to offering luxury fashion at competitive prices in India has established Culture Circle as the ultimate one-stop luxury fashion platform for hype sneakers and premium streetwear in India.

Key Highlights of Culture Circle on Shark Tank India:

• Received the highest-ever offer on Shark Tank India of ₹8 crores, highlighting the platform’s market potential.
• Accepted a strategic deal of ₹3 crores for 3% equity from Kunal Bahl and Ritesh Agarwal.
• Praised for its proprietary AI-powered Culture Circle authentication system, SourceX, ensuring trust and quality in every purchase.
• Recognized as India’s largest marketplace for authenticated hype sneakers and streetwear with a growing offline presence.

“We’re committed to building more than just a marketplace,” said Ackshay Jain, Founder & COO of Culture Circle. “This platform represents a community-driven movement where authenticity, affordability, and accessibility meet innovation. We’re excited to keep pushing boundaries.”

The Shark Tank India pitch also had its share of lighthearted moments. Vinita Singh jokingly referred to Devansh as her “junior, junior, junior” due to their shared university background. The camaraderie highlighted the respect the sharks had for the founders and their journey.

As Culture Circle continues to grow, it focuses on expanding its inventory, advancing its technology, and nurturing its vibrant community. The company has plans to launch additional physical stores across India and expand its footprint globally, beginning with markets like the UAE. These initiatives bring Culture Circle closer to becoming a global leader in luxury fashion.

90+ My Tuition App Expands into Oman in Partnership with Solar Square, Strengthening Middle East Presence

[National, January 8, 2025]: 90+ My Tuition App, a leading provider of school-specific online tuition for CBSE students, has expanded its operations into Oman through a strategic partnership with Solar Square. This collaboration furthers 90+’s mission to deliver accessible, high-quality education to Indian students across the GCC region.

Mr. Fahad Musallam Ali Mahad Baawain, Managing Director of Solar Square, and Mr. Smijay Gokuldaas, CEO of 90+ My Tuition App, signed the agreement. Speaking on the partnership, Mr. Fahad said, “We are excited to bring 90+ My Tuition App’s innovative tuition model to Oman. Their approach, which aligns tuition with individual school curriculums, ensures students receive tailored academic support. This partnership reflects our shared vision to provide effective education solutions to parents and students in Oman.”

This expansion into Oman marks another milestone in 90+’s vision to operate across all GCC countries. With a strong presence already established in the UAE—through launches in Abu Dhabi, Dubai, and Sharjah—and successful expansions into Qatar, Saudi Arabia, Bahrain, and Kuwait, the company has solidified its reputation as a leading education platform in the region.

Mr. Smijay Gokuldaas, CEO of 90+ My Tuition App, said, “This partnership with Solar Square is a significant step in our mission to provide affordable, school-aligned tuition to students across the GCC. We are thrilled to bring our proven model to Oman and help students achieve their academic potential.”

90+ My Tuition App’s unique hybrid model combines pre-recorded video lessons with interactive live classes, offering flexible and effective learning tailored to CBSE students. To serve the GCC region better, the company has incorporated Arabic into its curriculum and hired local educators, ensuring a culturally relevant and comprehensive educational experience. In 2025, 90+ is aiming to introduce specialized products that will redefine the CBSE tuition landscape in the GCC.

Warivo Motor partners with HDB Financial Services to accelerate EV adoption

New Delhi, 08 January 2025: Warivo Motor India Pvt. Ltd., one of the leading players in India’s electric mobility sector, has joined forces with HDB Financial Services to offer convenient and affordable financing options for its range of electric two-wheelers. This strategic partnership aims to make electric vehicles (EVs) more accessible to a wider audience by providing tailored financing solutions for both low-speed and high-speed models.

HDB Financial Services is committed to providing financing solutions that cater to a wide range of customer needs, from everyday commuters to performance-oriented EV enthusiasts. Through this collaboration, HDB Financial Services will offer flexible EMI plans to customers purchasing electric scooters across its’ 1700 plus branches in India. This will enable individuals to spread the cost of their EV purchase over a period, making it easier to manage expenses while transitioning to sustainable transportation.

Speaking on the announcement, Mr. Yuvraj Garg, Director of Warivo Motor commented, “Our partnership with HDB Financial Services is another step toward making electric mobility accessible to all. By providing flexible, customer-focused financing solutions, we are empowering individuals to transition to EVs with ease and actively supporting India’s clean energy goals for a greener, more sustainable future.”

Speaking about the partnership, Mr. Rakesh Kumar, National Head – Two Wheeler and Auto Loans, HDB Financial Services, stated, “At HDB Finance, we are committed to provide more accessible and affordable financial solutions to aspirational customers in the emerging India. This initiative aligns with our focus on driving financial inclusion and offering tailored services that meet the evolving needs of our customers.”

Puravankara Limited Appoints Deepak Rastogi as Group CFO

Mumbai, January 8, 2025: Puravankara Limited, one of India’s most trusted and admired real estate developers, has appointed Mr. Deepak Rastogi as the Group Chief Financial Officer (CFO), with effect from January 15, 2025.

Mr. Rastogi brings over three decades of extensive experience in finance, strategy, and transformation across diverse industries and international markets. He has held leadership positions, including President & Group CFO at Deepak Fertilisers and Petrochemicals Ltd. and President & Group CFO at TATA Autocomp Systems Ltd. His expertise encompasses driving profit and loss, growth strategies, mergers and acquisitions, digitisation, and enterprise risk management.

Mr. Rastogi is a Chartered Accountant with an MBA from S P Jain Institute of Research & Management. He has a distinguished history of leading financial strategies and implementing transformative initiatives that drive efficiency and profitability. His insights and skills will help drive the company’s expansion and growth plans.

Mr. Neeraj Gautam, who has been serving as the President – Finance at Puravankara Limited, has been elevated to the post of Deputy Chief Financial Officer.

On the appointment, Mr. Ashish Puravankara, Managing Director of Puravankara Limited, said, “We are excited to have Deepak on board to strengthen our operating efficiencies and financial controls in line with our future plans. His vast experience and strategic acumen will be instrumental as we pursue expansion opportunities. We are confident his leadership will contribute significantly to our ongoing success.”

LG Unveils A Day in a Life with Affectionate Intelligence at LG World Premiere

LAS VEGAS, Jan. 8, 2025 — LG Electronics (LG) unveiled its vision for AI-powered customer experiences themed “Life’s Good 24/7 with Affectionate Intelligence” at the LG World Premiere event in Las Vegas on January 6, the eve of CES 2025, widely regarded as the world’s most influential tech event.

Over 1,000 attendees, including global media and partners, were present at the press conference, which was also livestreamed online. To showcase the full scope of LG’s Affectionate Intelligence-powered customer experience, the event stage was divided into three areas representing the various spaces in people’s lives, from the home to mobility and commercial spaces. The company, through engaging demonstrations highlighting real-life scenarios, made clear how its advanced AI will transform daily life for the better.

LG “Affectionate Intelligence” is redefining the conventional, technical understanding of AI by focusing on its potential to revolutionize the customer experience paradigm. This concept leverages AI technology to better understand and empathize with customers, delivering more personalized and differentiated experiences.

The LG World Premiere kicked off with a video titled “Less Artificial, More Human,” followed by a keynote speech delivered by LG CEO William Cho.

“At LG, we’re seamlessly integrating AI into physical living spaces around us. We see space not merely as a physical location but as an environment where holistic experiences come to life – across the Home, Mobility, Commercial and even Virtual spaces,” said CEO Cho. “In these spaces, devices and services will harmonize to create entirely new customer value. This is where our Affectionate Intelligence truly shines, clearly standing out from the others.”

Cho then highlighted three fundamental elements to realize this vision: connected devices, capable AI agents and integrated services.

Connected devices, which serve as the customer touchpoint for AI, are one of LG’s greatest assets. Not only are there hundreds of millions of LG smart products already in use worldwide, but with last year’s acquisition of smart home solutions provider Athom, LG now offers seamless connectivity with IoT devices from over 170 global brands.

As for AI agents, LG is set to advance its AI agent, LG FURON, which combines the power of generative AI built on large language models with real-time spatial sensing and insights into customer lifestyle patterns. This innovative AI agent can understand customer situations and contexts in real-time, effortlessly coordinating devices and services to provide a more tailored and responsive user experience, all while protecting personal data.

Empowering AI-Based Integrated Services with Microsoft

To support his vision of providing compelling integrated services, CEO Cho announced a strategic partnership with Microsoft. The plan is to lead innovation by combining LG’s products and customer insights from various spaces, such as the home, mobility and commercial areas, with Microsoft’s AI technology to implement empathetic AI integrated services.

Judson Althoff, executive vice president and chief commercial officer at Microsoft, shared, “At Microsoft, we believe AI will fundamentally change the way we live and work, and we could not be more excited to partner with LG Electronics – the pioneers of smart, connected spaces – to integrate AI into life’s everyday experiences.”

The two companies are working on enhancing AI agents for various spaces, including homes, vehicles, hotels and offices. LG has been applying Microsoft’s voice recognition and speech synthesis technologies to its Self-Driving AI Home Hub, enabling it to understand diverse accents, pronunciations and colloquial expressions. Plans also include developing AI agents that not only understand and interact with customers but also predict their needs and preferences.

Althoff also announced further Microsoft collaboration with LG in the rapidly growing field of AI data centers. With LG’s thermal management systems and advanced chiller technologies optimized for AI data centers, the partnership aims to enhance energy efficiency in these critical backbones of AI infrastructure. Together, the companies plan to create next-generation data centers that are more efficient and sustainable.

Bringing AI Vision to Life

Illustrating Cho’s Affectionate Intelligence vision, LG captivated the audience with a short play about a family’s day from morning to night. Departing from the traditional product presentation speech format, this vivid portrayal demonstrated how LG’s AI innovations unveiled at CES 2025 and driven by the vision of “Better Life for All,” seamlessly enhance everyday life across various spaces.

In the morning scene, LG’s AI agent, FURON, highlights its personalized capabilities: “I noticed some coughing last night, so I adjusted the room temperature for your comfort.” Beyond environmental adjustments, FURON demonstrates thoughtful assistance, suggesting, “You don’t have any plans this afternoon – why not accompany your mother to her scheduled health check-up?”

The morning commute further highlights the convenience of AI integration. In the car, LG’s AI-powered in-cabin sensing solution detects when the driver forgets their coffee tumbler, asking, “Would you like to stop by a café two minutes away for coffee?” It also monitors biometric signals, responding to an elevated heart rate before an afternoon meeting by playing soothing music to help the driver relax. The system also proactively suggests rerouting to avoid accidents and recommends holding a video conference inside the vehicle if traffic delays risk causing the driver to miss an important meeting. Upon arriving at the office, the AI adds a personal touch, such as displaying previously recorded family vacation footage on the car’s internal and external cameras.

After work, the living room TV equipped with AI technology enhances the home entertainment experience. It analyzes the viewing environment, patterns and history to recommend tailored content. If the customer mentions difficulty hearing dialogue in a video, the AI adjusts the audio, enhancing voice clarity by isolating it from background noise and making it sound as though it’s coming naturally from the center of the TV screen.

Seamless and Holistic Customer Experiences Anytime, Anywhere, Seen or Unseen

Concluding his keynote address, CEO Cho emphasized AI’s role in driving transformative change across both B2C (business-to-consumer) and B2B (business-to-business) sectors.

He highlighted innovative initiatives like the LG Smart Cottage, a compact modular home that integrates AI-powered appliances, HVAC systems and other advanced technologies to redefine residential living. Similarly, LG envisions the automobile as a “personalized digital cave,” featuring software-defined vehicle solutions and AI technologies that understand and adapt to both the internal and external vehicle environment, delivering groundbreaking mobility experiences.

In smart factory solutions, LG leverages over 60 years of world-class manufacturing expertise, offering next-generation manufacturing systems powered by AI and robotics. Additionally, LG’s AI-based thermal management systems and advanced chiller technologies are optimizing energy efficiency in AI data centers worldwide.

“Our ultimate goal is simple yet profound: to leverage AI as a means to create holistic customer value, no matter where you are,” said CEO Cho. “Irrespective of how AI transforms our lives, one thing will never change: our promise of Life’s Good. With this unwavering commitment, we will strive to deliver differentiated customer experiences – seen or unseen – to everyone, everywhere, every time.”

Kerala to Launch Organic Water Bottles Soon; First Time in the Country

Kerala: A Kerala startup under the aegis of Kerala Irrigation Infrastructure Development Corporation Ltd (KIIDC), Government of Kerala is all set to launch ecological friendly organic water bottles, also called as ‘compostable bottles’, for the first time in the country soon. The new product will go a long way in replacing plastic bottles and will be marketed under the brand ‘Hilly Aqua’. Chief Minister Pinarayi Vijayan will launch the product in mid-January.

The trend setting project came to fruition after Kerala Minister for Water Resources Roshy Augustine evinced keen interest in a protype developed by Green Bio Products that showcased the product at an exhibition in Mumbai in 2019. Green Bio Products, a wholly-owned subsidiary of Eight Specialist Services, a Kerala-based startup, supplies the raw material and KIIDC will be manufacturing the product. Once the project goes on stream, this unique state government initiative will provide Kerala the status of being the first state to launch organic water bottles in the country.

All the raw materials used for manufacturing the bottles are bio-degradable and have got the necessary and required certifications from both domestic and global agencies. Initially, the target will be places with higher footfalls like tourism hotspots and festival venues, before launching it in other parts of the state and the country.

UPES Strengthens Global Collaborations; Inks MoUs with The University of Edinburgh and King’s College London

Dehradun, 8 January 2025 – UPES, a leading multidisciplinary university in India, has taken a significant step towards enhancing its global academic footprint by forging partnerships with two of the world’s most prestigious academic institutions: The University of Edinburgh and King’s College London. According to the 2025 QS Global Rankings, these institutions stand at 27th and 40th place, respectively, epitomising excellence in education and research.

These strategic collaborations are poised to foster academic excellence, drive research innovation, and facilitate cultural exchange, aligning with UPES’ commitment to providing its students with global exposure and learning opportunities.

The Memorandum of Understanding (MoU) with The University of Edinburgh is designed to strengthen UPES’ Global Pathway Programs and enhance progression opportunities within its School of Engineering. This partnership offers a range of integrated programs, such as 2+2, 2+3, and 4+1, allowing students to complete part of their studies at UPES and then continue at the University of Edinburgh. UPES students will be eligible for special scholarships, and the University of Edinburgh will confer the final degree. Additionally, students can opt for direct Master’s progression at the University of Edinburgh after completing their Bachelor’s degree at UPES, further expanding their academic and career prospects.

The partnership with King’s College London encompasses various collaborative initiatives, including joint research projects to drive innovation in mutually beneficial fields. It also enhances student mobility by allowing UPES students to participate in exchange programs, summer schools, and other educational experiences, enriching their academic journey with global exposure. Faculty exchanges are also a key element of this collaboration, promoting the sharing of academic expertise and research knowledge. Furthermore, articulation agreements provide students with a pathway to continue their studies at King’s College London. The partnership also facilitates the exchange of academic publications, broadening the research impact and strengthening scholarly communication between the institutions.

Dr. Ram Sharma, Vice Chancellor, UPES said, “Collaborations like these play a pivotal role in the UPES’s global engagement journey. By connecting with leading institutions worldwide, we aim to create a vibrant ecosystem of knowledge exchange, academic excellence, and transformative opportunities that prepare our students and faculty to make a meaningful impact on a global scale.”

Abhishek Sinha, Dean, School of Law and Head of International Affairs, UPES, expressed enthusiasm about these partnerships, stating, “Our partnerships with The University of Edinburgh and King’s College London mark a significant step in our mission to provide world-class education and research opportunities. These collaborations offer our students invaluable global exposure, equipping them with the skills needed to thrive in the international job market. The University of Edinburgh partnership opens doors for integrated programs and direct Master’s progression, while our alliance with King’s College London facilitates joint research, student mobility, and faculty exchanges. Together, these initiatives encourage a culture of global academic excellence, preparing our students to become future leaders in an interconnected world.”

NMDC Steel acquires all India first BIS Certification for Pipeline Transformation System Steel Products

New Delhi, January 7, 2025: NMDC Steel Limited (NSL), India’s youngest and modern steel producer operating with a capacity of 3.0 MTPA, has once again proven its commitment to excellence by becoming the All-India First Licensee for manufacturing “Hot-Rolled Steel Strip, Sheet, and Plates for Welded Steel Pipe for Pipeline Transportation Systems” as per the Indian Standard IS 18384:2023. This landmark achievement was recognized by the Bureau of Indian Standards (BIS) during its Foundation Day celebrations held in New Delhi.

Dr. Prashant Sharma, DGM (Chem), Head of Quality at NMDC Steel Limited, received the award on behalf of the NSL from Shri Prahlad Joshi, the Hon’ble Minister for Consumer Affairs, Food & Public Distribution, New and Renewable Energy in the esteemed presence of Smt. Nidhi Khare, Secretary, Department of Consumer Affairs, and Shri Pramod Kumar Tiwari, Director General, BIS.

The certification, IS 18384:2023, titled “Hot-Rolled Steel Strip, Sheet, and Plates for Welded Steel Pipe for Pipeline Transportation Systems – General Requirements,” represents a significant benchmark for excellence in steel products catering to the exacting demands of pipeline transportation systems in petroleum and natural gas industry. NMDC Steel’s adherence to these standards highlights its focus on innovation, quality, and sustainable development.

In another milestone of quality and innovation, NMDC Steel became the first steel plant in India to secure four prestigious Integrated Management System (IMS) ISO certifications simultaneously from the Bureau of Indian Standards just a few months ago.

‘Speaking on this proud occasion, Shri Amitava Mukherjee, Chairman and Managing Director (Additional Charge), NMDC Steel Limited, said: “This recognition by the BIS as the All-India First Licensee for IS 18384:2023 is a testament to NMDC Steel’s relentless pursuit of excellence. As India’s youngest steel plant, we are committed to driving innovation, enhancing quality, and contributing to the nation’s growth story on the line of National Steel Policy. This milestone motivates us to continue setting new benchmarks and providing cutting-edge solutions for India’s infrastructure and energy sectors.”

These accolades underscore NSL’s holistic approach to responsible and sustainable steelmaking, ensuring that every product meets the highest standards of quality, safety, and environmental responsibility.

Spinny’s 2024 Trends: 76% First-Time Buyers, Renault Kwid Dominates Sales, 60% of Women Prefer Automatic Hatchbacks

National, 08 January 2025: As urban India continues to expand and public transport struggles to meet rising demand, car ownership has emerged as the go-to mobility solution for millions of Indians. The convenience, sense of freedom, and joy of owning a car have become integral to the lifestyle of young, aspirational buyers across the country.

In line with these evolving trends, Spinny, India’s leading full-stack used car platform, has released its annual report, shedding light on the key developments that have shaped the used car market throughout 2024.

A significant 76% of Spinny customers in 2024 were first-time car buyers, further solidifying the platform’s position as a top choice for new car owners. This represents a 3% increase from the previous year 73%.

The top three preferred car models saw a shift in 2024. Renault Kwid continues to be the hot favourite and Hyundai Grand i10 maintained their dominance, while Maruti Suzuki Swift entered the top three, replacing the Baleno. Hatchbacks continue to be the most preferred category across. This reflects a growing preference for compact, value-driven vehicles.

The compact SUV segment has seen a 20% growth, with models like the EcoSport continuing to reign supreme. The appeal of compact SUVs, combining space and performance with the “big car” appeal, continues to rise.

Spinny’s hub-based delivery model remains highly favored, with 74% of deliveries made through Spinny hubs, an increase from 69% in the previous year, showcasing the importance of physical interaction and inspection in the car-buying process.

Petrol remains the dominant fuel type, accounting for 82% of Spinny’s sales. Diesel vehicles have declined to 12%, while CNG and electric vehicles (EVs) hold steady at 4% and 2%, respectively.

Women buyers now represent 26% of Spinny’s customer base, with the absolute number of women buyers growing steadily each year. Among them, 60% prefer automatic hatchbacks, while 18% prefer compact SUVs.

The average age of Spinny’s customers has dropped to 32 years from 34 last year, indicating an appeal to younger buyers who are looking for a reliable and easy car-buying experience.

The report highlights a growing trend in online car buying, with online purchases rising to 75% in 2024, up from 70% in 2023. This shift underscores the increasing convenience and preference for digital transactions in the car-buying process.

This year, 22% of customers opted for an upgrade, compared to 12% in 2023. This increase shows growing confidence in platforms like Spinny, which allows buyers to trade in their old cars and select a new one based on their changing needs. Whether it’s upgrading to a larger vehicle for family requirements or choosing a car suited to their lifestyle or city, the exchange process gives customers flexibility in finding a car that works for them.

56% of Spinny customers chose financing options to facilitate their car purchases, with 60% of these customers falling within the 25-30 age group. This indicates a growing reliance on financing, especially among younger buyers.

Spinny Max, the luxury car segment, has gained significant traction, with premium models from brands like BMW, Mercedes-Benz, and Jeep leading the charge with Jeep Compass holding the maximum share followed by BMW X1 and Mercedes C-Class. Spinny’s partnership with TataEV has also contributed to the growing interest in electric vehicles, especially the Tata Nexon, which accounts for 60% of EV sales in Bengaluru.

Spinny’s stronghold continues to be in major cities such as Bangalore, Delhi NCR, and Hyderabad, which remain the top contributors to sales.

As Spinny looks toward 2025, the company remains focused on enhancing its customer experience, with an unwavering commitment to trust, quality, and customer experience. Addressing the year-end trends, Niraj Singh, Founder & CEO of Spinny, shared, “From delivering our first car in 2015 to over 2 lakh stories by the end of 2024, it has been a humbling journey. This growth fuels our passion to continue offering the service and experience to our customers as we move forward.’’

Orbit Startups and Sanabil Investments Launch Accelerator for Early-Stage Tech Innovation Across Saudi Arabia and MENA

New Delhi, India, 7th January, 2025 – Orbit Startups (Orbit) and Sanabil Investments announce the launch of a new accelerator program, Sanabil Accelerator by Orbit, to cultivate early stage startups from the Saudi Arabia and the Middle East and North Africa (MENA) region as well as global startups seeking to expand into the region. The program will focus on key sectors including fintech, healthcare, e-commerce, mobility and logistics, among others.

The accelerator partnership marks a significant milestone for Orbit, with 45 portfolio companies in the MENA region since 2020, deepening its commitment to economic transformation in emerging markets through technology and entrepreneurship, and advancing Saudi Arabia’s position as a global hub for digital innovation.

Sanabil Accelerator by Orbit is a continuation of Sanabil’s focus on early stage start-ups and is the second accelerator to have been launched since 2021. The first accelerator, Sanabil Accelerator by 500 Global, in its 8th edition this year, and is focused on seed investment while the second, Sanabil Accelerator by Orbit is focused on pre-seed investment.

Startups will receive an initial investment of USD $100,000 and access to follow-on funding. The acceleration commences with a four-month program focused on sales, marketing, and product development and continues with lifetime membership in the Orbit and Sanabil ecosystem. Startups will participate in an in-person market orientation in Riyadh and receive hands-on support from Orbit’s network of partners, mentors and investors.

“Entrepreneurship is the catalyst for economic transformation, and technology pushes the boundaries of what is possible,” said William Bao Bean, Managing General Partner of Orbit Startups. “We’ve been bridging innovation from startups and large organizations from corporates and conglomerates to governments for the past 15 years. Our partnership with Sanabil reinforces our commitment to scaling startups cross-border in the MENA region. By equipping startups with the resources they need, we’re not only enabling industry disruption but also unlocking substantial economic potential. This partnership will support startups as they scale beyond their home markets, positioning them to grow in the Kingdom of Saudi Arabia and across the MENA region through 2030 and beyond.”

“Partnering with Orbit, we are committed to empowering early-stage startups across diverse sectors including technology, healthcare, web3 and mobility. Sanabil Accelerator by Orbit is designed to cultivate innovation and drive the growth of Saudi’s startup ecosystem, demonstrating our dedication to supporting visionary entrepreneurs and long-term sustainable development,” said a spokesperson at Sanabil Investments.