Smpl Fund I, a $10 million venture capital fund launched by Smpl Holdings, has announced a strategic investment of $250,000 in multiple AI and technology companies within 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 innovative companies.
Qora71, a venture investor syndicate and a member of the Hub71 Angel Program, offers accredited investors the opportunity to invest on a deal-by-deal basis, without minimum commitments or fees. The syndicate’s portfolio includes over 50 technology companies, with a strong focus on AI and emerging technologies.
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 just about providing financial capital – we’re committed to delivering strategic value and accelerating the success 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 driving the growth of AI and tech startups in the MENA region and beyond, offering not just funding but invaluable strategic expertise.
Mohammad Abu Sheikh, the founding partner of Smpl Holdings, is a serial entrepreneur with extensive experience in building and scaling AI-driven businesses. With a deep understanding of the challenges startups 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 our syndicate of strategic investors. Their extensive experience in the AI space will add tremendous value to our 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 contribute to the growth of the tech ecosystem in MENA and beyond.
