Dubai’s in5 Startups Secure Over $2.45 Billion in Funding

Dubai’s premier startup incubator, in5, has surpassed a monumental milestone by securing over AED 9 billion ($2.45 billion) in cumulative funding for its portfolio companies. This impressive financial achievement highlights the thriving entrepreneurial environment within Dubai, driven by a supportive framework that champions innovation and business growth.

The announcement came during Expand North Star 2025, the globe’s largest startup and investor gathering held at Dubai Harbor from October 12th to 15th. The total funding figure reflects a significant 14 percent increase compared to the amount raised just one year earlier in October 2024. This rapid growth underscores the effectiveness of in5’s comprehensive support system in accelerating the development of new enterprises.

Since its establishment in 2013 by TECOM Group PJSC, the entity managing ten specialized business districts across Dubai, in5 has been instrumental in fostering the growth of more than 1,100 startups. The incubator provides tailored assistance across four distinct industry verticals: technology, media, design, and science. Each vertical operates from a strategic location: in5 Tech is based at Dubai Internet City, in5 Media at Dubai Production City, and in5 Design at Dubai Design District (d3). The science vertical, in5 Science, was launched in partnership with Dubai Science Park to offer a specialized platform for pioneering science-focused startups.

Majed Al Suwaidi, Senior Vice President of TECOM Group PJSC, commented on this achievement, stating, “Crossing the AED 9 billion funding threshold marks a pivotal moment for in5’s startups and their substantial contribution to the innovation-driven economy. Every venture that succeeds within our ecosystem helps advance a brighter global future originating from Dubai, aligning with the strategic objectives of the Dubai Economic Agenda ‘D33’. As we convene for Expand North Star 2025, our focus remains on empowering the next generation of forward-thinking entrepreneurs who will shape the industries of tomorrow.”

At the Expand North Star 2025 event, in5 is presenting several standout companies from its network. These include Bellboy, an artificial intelligence-powered SaaS platform that automates hospitality services to improve customer experiences; Gainz, a service linking retail investors and institutions with carefully screened debt financing options; and MyGatePass, a company modernizing visitor management systems through seamless integration with the UAE Pass.

This year’s Expand North Star, celebrating its tenth anniversary as a segment of Gitex Global, has drawn an unprecedented assembly of participants. More than 2,000 startups and 1,200 investors from 180 different countries are in attendance, cementing the event’s status as the world’s premier congregation for startups and investment professionals. Brazil is participating as the official Country Partner, with Ecuador and Chile joining for the first time. Against a backdrop of global venture capital investments hitting $368 billion in 2024, the event plays a crucial role in expanding the worldwide digital economy and stimulating growth within emerging markets, particularly those influenced by artificial intelligence.

Held over four days from October 12th to 15th, the event is dedicated to amplifying opportunities for investment, funding, and business expansion. It aims to forge and strengthen partnerships that support inclusive and sustainable progress in the digital domain.

(Source: Economy Middle East)