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Tue 26 Nov 2019 04:42 PM

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UAE parent app QiDZ secures $1m in seed funding

Company says it will use the funds to enhance its product offering, grow its team and expand its footprint into other GCC markets

UAE parent app QiDZ secures $1m in seed funding

The app enables users to discover more than 3,000 hand-picked fun and educational activities, deals and restaurants and book online instantly.

QiDZ, a one-stop destination for kids-related fun, education and entertainment in the UAE, announced on Tuesday that it has raised $1 million in seed funding.

The round was led by several regional and international institutional investors, including the Oman Technology Fund, 500 Startups, Vision Ventures, Seedstars, Mindshift Capital, Delta Partners Ventures and support from the OQAL Angel Investor Network, UAE Business Angels and Misk Innovation.

The company said in a statement that it will use the funds to further enhance its product offering, grow its team and expand its footprint into other GCC markets.

Launched in the UAE in November 2017, QiDZ was founded by Simona Agolini, Ines Mena, Claudia Ribas, Nourhan Hassan and Therese Hundt. The app enables users to discover more than 3,000 hand-picked fun and educational activities, deals and restaurants and book online instantly.

Agolini, CEO of QiDZ, said: “Closing our seed round is a testament to the hard work, commitment and dedication of our team to further scale our business. With the additional funds, our strategy is to continue to develop our app, grow our team and expand into new markets. We are grateful to all our investors who have believed in our business, our team and our growth strategies.”

Khalid AlHadlaq, an investor and an advisory board member said: “QiDZ has established real value for kids entertainment in the UAE. I am excited to see the growth and what the team has achieved, and to be part of the journey. The time has never been better to expand into other markets and, in particular, into Saudi Arabia.”

Sharif El-Badawi, managing partner at 500 Startups, MENA, added: “500 Startups' mission is to back the most talented entrepreneurs and help them create successful companies at scale. We are delighted to collaborate and support QiDZ, an all-female founded team, as they expand as pioneers in new target markets.”