EQ2 Ventures

EQ2 Ventures is a venture capital firm based in Dubai, United Arab Emirates, founded in 2015 as a spin-off of Equitrust, the corporate venture capital arm of Choueiri Group. The firm focuses on investing in seed to Series B-stage startup companies across various sectors, including ad tech, ed tech, e-commerce, fintech, health tech, digital content, software as a service, and B2C marketplaces. By leveraging a robust network of strategic investors and mentors, EQ2 Ventures aims to assist entrepreneurs in addressing significant consumer and business challenges, fostering the development of sustainable companies and generating long-term value.

Patrick Thiriet

CEO and Founder

Manish Phulwani

Associate Director

27 past transactions

Sukhiba

Seed Round in 2024
Sukhiba operates a decentralized community-based commerce platform that focuses on enhancing customer engagement through conversational commerce. By leveraging WhatsApp, Sukhiba provides businesses with tools to manage customer relationships effectively, send notifications, and process orders. This enables companies to streamline their operations and improve sales performance, fostering a more interactive and responsive shopping experience for customers.

Uncover

Seed Round in 2024
Uncover is a beauty company that provides skincare products for consumers. The company's mission is to inspire, support, educate, and empower women to take control of health and well-being and become the most trusted skin-care brand. Uncover was founded in 2020 and is based in Kenya.

Sukhiba

Seed Round in 2023
Sukhiba operates a decentralized community-based commerce platform that focuses on enhancing customer engagement through conversational commerce. By leveraging WhatsApp, Sukhiba provides businesses with tools to manage customer relationships effectively, send notifications, and process orders. This enables companies to streamline their operations and improve sales performance, fostering a more interactive and responsive shopping experience for customers.

Julaya

Seed Round in 2022
Julaya is a fintech company focused on providing African businesses with digital financial solutions. The platform enables companies to manage payments efficiently through a digital account, facilitating mobile money transactions for employees and suppliers. Julaya's services include issuing virtual and physical prepaid cards, allowing businesses to streamline their financial operations. Additionally, the software supports utility bill payments, credit card reloading, and money transfers, enhancing accessibility to digital payment options. By digitizing their operations on the Julaya platform, businesses can also access digital loans, thereby improving their financial flexibility and operational efficiency. Julaya aims to empower businesses by offering a comprehensive suite of financial tools tailored to meet their specific needs.

Hala

Series A in 2021
Addenda LTD, established in 2018 and headquartered in Dubai, United Arab Emirates, specializes in providing blockchain-based distributed ledger technology (DLT) services to the insurance industry. The company streamlines insurance processes, enables real-time task reporting, and securely records claim and policy data onto the blockchain for enhanced transparency and security. Additionally, Addenda offers data input validation and analysis services. In 2020, Addenda launched Hala Insurance, an insurtech startup aiming to provide affordable, quick, and online car and home insurance to the 500 million people living in the Middle East and North Africa (MENA) region, thereby disrupting the traditional insurance industry.

AIfluence

Seed Round in 2021
AIfluence is an AI-driven platform that specializes in influencer marketing, providing a comprehensive solution for brands to promote their products effectively. The platform leverages advanced algorithms to match influencers with brands, facilitating influencer discovery, campaign management, and performance measurement for both organic and paid campaigns. By monitoring and managing high-impact audience-based campaigns in real-time, AIfluence enhances brand promotion strategies and generates measurable results. Its technology adapts to evolving audience demographics, fostering authentic and credible conversations that build trust and engagement. Ultimately, AIfluence aims to optimize influencer marketing efforts, enabling clients to achieve superior return on investment and drive revenue growth through social media networks.

Speero

Seed Round in 2021
Speero is an online marketplace based in Riyadh, Saudi Arabia, that specializes in the purchase of new and used automotive spare parts. Established in 2017, the platform facilitates online ordering and offers a dedicated team to assist users with queries, quotations, and information. Speero integrates directly with repair shops, insurance companies, and other businesses, allowing users to compare price quotes from various suppliers. This functionality enables car owners to acquire automotive parts at competitive prices while helping businesses reduce costs, enhance efficiency, and minimize fraud. By providing a comprehensive solution for automotive spare parts, Speero aims to streamline the procurement process for both individual consumers and businesses in the automotive sector.

Homzmart

Series A in 2021
Homzmart Ltd. is an e-commerce platform based in Cairo, Egypt, that specializes in selling home furniture, décor, lighting, and various home supplies. Founded in 2019, the company facilitates connections between homeowners and home professionals, allowing users to browse an extensive selection of products while accessing reviews, expert advice, and articles on home improvement. Homzmart aims to create a community-driven environment that enhances the shopping experience for home-related needs, offering a diverse range of quality products at competitive prices. Through its platform, the company seeks to simplify the process of home furnishing and improvement for its customers.

Abwaab

Seed Round in 2021
Abwaab Technologies Inc, established in 2019 and headquartered in Amman, Jordan, operates an online learning platform for secondary-school students. It provides concept-based video lessons, visualized learning journeys, assessments, and performance-tracking features for key subjects like math, physics, chemistry, and biology. The platform allows students to learn at their own pace, test themselves, and access expert tutors anytime and anywhere, aiming to enhance the learning experience outside the classroom.

Eyewa

Series B in 2020
Eyewa is an online optical store focused on simplifying the eyewear shopping experience. The company offers a diverse range of products, including sunglasses, prescription glasses, blue-light reading glasses, and contact lenses. By providing a user-friendly platform, Eyewa aims to make eyewear shopping accessible and affordable for customers, catering to both fashion and functional needs.

Invygo

Seed Round in 2020
Invygo is the first and largest car subscription service in the MENA region, offering consumers an all-inclusive monthly subscription model through a user-friendly mobile app. Founded in 2018 in Dubai by Eslam Hussein and Pulkit Ganjoo, Invygo enables users to access passenger vehicles without the financial burdens associated with traditional car ownership. The platform allows for customizable month-to-month subscriptions, providing flexibility for users to return or upgrade their vehicles without penalties. Additionally, Invygo supports car dealers by offering a new business model that helps them generate revenue while minimizing depreciation and operational costs. Overall, Invygo aims to create accessible mobility options with a hassle-free experience for both consumers and dealers.

Abwaab

Pre Seed Round in 2020
Abwaab Technologies Inc, established in 2019 and headquartered in Amman, Jordan, operates an online learning platform for secondary-school students. It provides concept-based video lessons, visualized learning journeys, assessments, and performance-tracking features for key subjects like math, physics, chemistry, and biology. The platform allows students to learn at their own pace, test themselves, and access expert tutors anytime and anywhere, aiming to enhance the learning experience outside the classroom.

Homzmart

Seed Round in 2020
Homzmart Ltd. is an e-commerce platform based in Cairo, Egypt, that specializes in selling home furniture, décor, lighting, and various home supplies. Founded in 2019, the company facilitates connections between homeowners and home professionals, allowing users to browse an extensive selection of products while accessing reviews, expert advice, and articles on home improvement. Homzmart aims to create a community-driven environment that enhances the shopping experience for home-related needs, offering a diverse range of quality products at competitive prices. Through its platform, the company seeks to simplify the process of home furnishing and improvement for its customers.

CarSwitch

Series A in 2019
CarSwitch operates an online marketplace designed to streamline the buying and selling of used cars in a market valued at over $20 billion. The company addresses the complexities and challenges faced by both sellers and buyers by employing certified specialists and advanced technology. CarSwitch manages the entire transaction process, including inspecting, certifying, and warranting vehicles, as well as photographing, advertising, and filtering potential buyers. Additionally, the platform facilitates test drives and handles all necessary paperwork, ensuring a seamless experience. By simplifying these processes, CarSwitch aims to enhance transparency and trust in the used car market, making it easier for users to buy and sell vehicles while also accessing services such as insurance and financing.

Invygo

Seed Round in 2019
Invygo is the first and largest car subscription service in the MENA region, offering consumers an all-inclusive monthly subscription model through a user-friendly mobile app. Founded in 2018 in Dubai by Eslam Hussein and Pulkit Ganjoo, Invygo enables users to access passenger vehicles without the financial burdens associated with traditional car ownership. The platform allows for customizable month-to-month subscriptions, providing flexibility for users to return or upgrade their vehicles without penalties. Additionally, Invygo supports car dealers by offering a new business model that helps them generate revenue while minimizing depreciation and operational costs. Overall, Invygo aims to create accessible mobility options with a hassle-free experience for both consumers and dealers.

Mawdoo3

Series B in 2019
Mawdoo3 is an online platform dedicated to providing credible Arabic content across various topics, including health, education, and cooking. It serves over 50 million unique visitors each month, aiming to enhance the availability of quality Arabic information on the Internet. The platform employs artificial intelligence to curate an encyclopedia of digital content that emphasizes Arabian culture and history, allowing users to access relevant information quickly and efficiently. By focusing on trustworthy sources, Mawdoo3 strives to meet the needs of Arabic internet users seeking reliable content.

Eyewa

Series A in 2019
Eyewa is an online optical store focused on simplifying the eyewear shopping experience. The company offers a diverse range of products, including sunglasses, prescription glasses, blue-light reading glasses, and contact lenses. By providing a user-friendly platform, Eyewa aims to make eyewear shopping accessible and affordable for customers, catering to both fashion and functional needs.

ArabyAds

Series A in 2019
ArabyAds is a performance marketing company founded in 2013 and based in Dubai, United Arab Emirates, with an additional office in Cairo, Egypt. The firm specializes in enhancing e-commerce marketing through a diverse range of services, including influencer marketing, affiliate marketing, lead generation, sales promotion, customer acquisition, and market testing. ArabyAds aims to empower merchants by improving their return on investment, boosting sales, and enhancing brand visibility through its comprehensive marketing platforms. With a focus on online marketing strategies, the company is dedicated to helping its clients navigate the evolving digital landscape.

Golden Scent

Series B in 2019
Golden Scent is an e-commerce platform based in Dammam, Saudi Arabia, specializing in branded perfumes, cosmetics, skincare, and hair products. Founded in 2014, the platform serves as an online beauty destination where customers can access a wide variety of luxury fragrances and beauty items from a single source. Notably, Golden Scent features an application that allows users to virtually try on products before making a purchase, enhancing the shopping experience and ensuring customer satisfaction. The company focuses on providing genuine beauty products, making it a reliable choice for consumers seeking quality in their beauty purchases.

feel22.com

Series A in 2018
Feel22 is an e-commerce platform. They offer makeup, haircare, skincare, perfumes, and other beauty products for men, women, and kids. They allow consumers to directly buy goods or services from a seller over the internet using a web browser or a mobile app.

The Luxury Closet

Series C in 2018
The Luxury Closet is a pioneering online marketplace in the GCC region dedicated to the buying, selling, and consignment of luxury items, with a focus on pre-owned products. By ensuring the authenticity and integrity of each item, the platform allows customers to purchase designer goods at discounted prices. With its significant market reach and impressive scalability, The Luxury Closet has experienced rapid growth, achieving double-digit monthly increases in sales since its inception. The platform serves as a trusted venue for individuals seeking to access authentic luxury items while promoting a sustainable approach to fashion consumption.

Aqeed

Series B in 2018
Aqeed is an insurance technology company focused on simplifying the insurance process for users. The company offers a software platform that helps individuals and businesses understand, compare, and manage their insurance needs. By leveraging a secure and customizable insurance-as-a-service technology, Aqeed aims to provide a transparent experience, allowing customers to make informed decisions tailored to their specific requirements. Through its innovative approach, Aqeed seeks to enhance the accessibility of insurance and empower users in their insurance-related choices.

Eyewa

Seed Round in 2018
Eyewa is an online optical store focused on simplifying the eyewear shopping experience. The company offers a diverse range of products, including sunglasses, prescription glasses, blue-light reading glasses, and contact lenses. By providing a user-friendly platform, Eyewa aims to make eyewear shopping accessible and affordable for customers, catering to both fashion and functional needs.

Golden Scent

Series A in 2017
Golden Scent is an e-commerce platform based in Dammam, Saudi Arabia, specializing in branded perfumes, cosmetics, skincare, and hair products. Founded in 2014, the platform serves as an online beauty destination where customers can access a wide variety of luxury fragrances and beauty items from a single source. Notably, Golden Scent features an application that allows users to virtually try on products before making a purchase, enhancing the shopping experience and ensuring customer satisfaction. The company focuses on providing genuine beauty products, making it a reliable choice for consumers seeking quality in their beauty purchases.

STEP Group

Series A in 2017
STEP Group is a leading digital and new media company in the Middle East with a house of modern news and entertainment brands.

The Luxury Closet

Series B in 2016
The Luxury Closet is a pioneering online marketplace in the GCC region dedicated to the buying, selling, and consignment of luxury items, with a focus on pre-owned products. By ensuring the authenticity and integrity of each item, the platform allows customers to purchase designer goods at discounted prices. With its significant market reach and impressive scalability, The Luxury Closet has experienced rapid growth, achieving double-digit monthly increases in sales since its inception. The platform serves as a trusted venue for individuals seeking to access authentic luxury items while promoting a sustainable approach to fashion consumption.

Mawdoo3

Series A in 2015
Mawdoo3 is an online platform dedicated to providing credible Arabic content across various topics, including health, education, and cooking. It serves over 50 million unique visitors each month, aiming to enhance the availability of quality Arabic information on the Internet. The platform employs artificial intelligence to curate an encyclopedia of digital content that emphasizes Arabian culture and history, allowing users to access relevant information quickly and efficiently. By focusing on trustworthy sources, Mawdoo3 strives to meet the needs of Arabic internet users seeking reliable content.
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