Aldar’s Scale Up programme awards 5 new tech startups pilot projects

Abu Dhabi – Mubasher: Aldar Properties has granted five tech startups pilot projects as part of the second cycle of its accelerator programme Scale Up.

The selected startups will be awarded the projects through Aldar’s programme, alongside strategic partner Majid Al Futtaim Communities, according to a press release on Monday.

The five startups comprise LlamaZOO, Darabase, Geotwin, Sook Space, and Metaverse Architects.

The five businesses are specialised in the technologies of spatial and artificial intelligence (AI), blockchain, NFT applications, and data analytics.

Furthermore, the startups have secured an average of $632,000 in funding and registered an average annual revenue worth $619,000.

The Executive Director of Strategy and Transformation at Aldar Properties, Maan Al Awlaqi, said: "The real estate technology startup landscape has grown over 300% in the past decade with an estimated 8,000 PropTech companies identified."

The Managing Director of Majid Al Futtaim Communities, Shadi Al Azzeh, commented: "Advancements in tech will impact mixed-use communities and reduce inefficiencies in neighbourhoods. We expect 2022 to eclipse this, with advancements in the metaverse, sustainable mindsets, the dominance of Gen Z, and new communities dominating the real estate technology landscape."

It is worth noting that early this month, Aldar selected three PropTech startups from three different countries for the inaugural accelerator programme.

Mubasher Contribution Time: 30-May-2022 12:02 (GMT)
Mubasher Last Update Time: 30-May-2022 12:02 (GMT)