Dubai – Sharikat Mubasher: Smpl Fund I, a $10 million venture capital fund launched by Smpl Holdings, announced investing $250,000 in multiple AI and tech companies within Qora71’s portfolio.
The fund focuses on supporting AI and technology startups across the MENA region by providing seed capital and strategic growth support, according to a recent press release.
Qora71, a venture syndicate and member of the Hub71 Angel Program, offers accredited investors deal-by-deal investment opportunities without minimum commitments. Its portfolio includes over 50 companies, with recent investments in Basetwo AI, zypl.ai, Abwab.ai, autone, Biosapien, and Algooru, underscoring the region's growth in AI innovation.
Mohammad Abu Sheikh, founding partner of Smpl Holdings, commented: “As second-generation serial entrepreneurs, we understand the unique challenges startups face. Smpl Fund I is not just about providing financial capital – we’re committed to delivering strategic value and accelerating the success of AI companies in the MENA region. We see Qora71 as the ideal partner to channel both our funding and our strategic expertise, particularly in the AI sector where our team has deep experience building and scaling platforms.”
Smpl Holdings aims to shape the future of AI and technology, driving growth in MENA and beyond. Qora71 welcomed Smpl as a partner, highlighting the value of its extensive AI experience for startups in its network.
This investment reinforces Smpl Fund I’s commitment to fostering innovation and strengthening the tech ecosystem in the region.
