Abu Dhabi, February 4, 2025 – Smpl Fund I, a $10 million venture capital fund launched by SmplHoldings, has announced a strategic investment of $250,000 in multiple AI and technology companieswithin the Qora71 portfolio.Smpl Fund I, which focuses on supporting AI and tech startups across the MENA region and beyond,provides seed capital alongside hands-on strategic support to accelerate the growth of innovativecompanies.Qora71, a venture investor syndicate and a member of the Hub71 Angel Program, offers accreditedinvestors the opportunity to invest on a deal-by-deal basis, without minimum commitments or fees. Thesyndicate’s portfolio includes over 50 technology companies, with a strong focus on AI and emergingtechnologies.Recent investments by Qora71 include cutting-edge AI companies such as Basetwo AI, zypl.ai, Abwab.ai,autone, Biosapien, and Algooru, demonstrating the region’s growing prominence in the AI space.Mohammad Abu Sheikh, founding partner of Smpl Holdings, shared his enthusiasm: “As second-generation serial entrepreneurs, we understand the unique challenges startups face. Smpl Fund I is not justabout providing financial capital – we’re committed to delivering strategic value and accelerating thesuccess of AI companies in the MENA region.”He added, “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 is a leading investor and operator in the artificial intelligence (AI) and technology space,committed to shaping the future of the industry. Through Smpl Fund I, the company focuses on drivingthe growth of AI and tech startups in the MENA region and beyond, offering not just funding butinvaluable strategic expertise.Mohammad Abu Sheikh, the founding partner of Smpl Holdings, is a serial entrepreneur with extensiveexperience in building and scaling AI-driven businesses. With a deep understanding of the challengesstartups face, Mohammad has been instrumental in creating an environment where AI innovation thrives,leveraging his expertise to empower companies to succeed in a competitive landscape.Qora71 expressed its excitement about the partnership, saying, “We’re thrilled to welcome Smpl to oursyndicate of strategic investors. Their extensive experience in the AI space will add tremendous value toour portfolio, offering our startups access to a powerful network of clients, partners, and investors.”With this investment, Smpl Fund I continues its mission to drive AI innovation in the region and contributeto the growth of the tech ecosystem in MENA and beyond.
Smpl Fund I Invests $250,000 in Qora71, Supporting AI and Tech Entrepreneurs in MENA
