Sheraa raised $60m in investment, revenue in three years

Sharjah Entrepreneurship Centre saw 72 start-ups graduate to help create 506 jobs in UAE
Sheraa raised $60m in investment, revenue in three years
Najla Al Midfa, CEO of Sheraa.
By Lubna Hamdan
Sun 26 May 2019 02:54 PM

Sharjah Entrepreneurship Centre (Sheraa) has raised over $37 million in investment and generated more than $24 million in cumulative revenue since its inception in 2016, while its 72 graduate start-ups have created a total of 506 jobs in the UAE, according to its Impact Report.

The launch pad for entrepreneurs in the UAE has also awarded $533,000 in grants through its four fold programme module that supports start-ups at all levels. This month, it announced men’s e-commerce shopping service Mr Draper as the winner of the $50,000 grant. The start-up aims to simplify the shopping experience by connecting customers with a personalised stylist who then sends curated outfits to try-on at home for 5 days.

Najla Al Midfa, CEO of Sheraa said, “As Sheraa marks our third anniversary, I could not be more proud of how far we have come.

"Our graduating startups have come a long way over the past 12 weeks and we have no doubt that they will continue to have a positive impact on their societies and economies… I am confident that we will continue to see tremendous growth, especially with the unwavering support of our partners and wider community.”

Sheraa’s Ramadan Majlis saw the launch pad collaborate with Expo Live to celebrate a graduation ceremony held for participants’ achievements.

The programme, which began in February 2019, saw start-ups explore a range of topics, including market research, pitch training, story mapping, persona creation, vision and goal setting.

Some of the start-ups that graduated include Mr Draper, fashion e-commerce platform Boksha, online grocery El Grocer, healthy F&B platform MintBasil, medical appointment app Tabeeby, real-time logistics automation platform Wimo and Hotel Data Cloud, which helps hotels reduce error in their content.

For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.