With $2.5 billion in venture capital, the UAE captures half of MENA’s funding, solidifying its status as a tech hub to over 4,000 startups in Dubai and Abu Dhabi
Dubai, UAE, 19 August 2024: Offline, a private members’ community for scaled-up founders, has expanded in the UAE, marking its first venture outside India.
After making a significant impact in India within just six months of its launch, Offline is poised to introduce its innovative network to the UAE, further strengthening the region’s entrepreneurial ecosystem.
Founded by Utsav Somani, the man behind bringing AngelList to India and one of the leading investors of the country, Offline aims to build a close-knit network of startup founders on a significant growth trajectory.
“In 2016, as I launched my own company, I yearned for a community that hand-picked seasoned founders to share ideas with, problem-solve, or simply get candid feedback. The same old networking events didn’t offer opportunities for deeper connections and knowledge sharing. When I realised none existed, I founded Offline” said Somani.
The community focuses on founders of companies who meet one of the following criteria: $5 million raised, $5 million in ARR, $10 million from a previous exit, or currently valued at $50M. Notable early members in the UAE include the co-founders of CoinDCX, Hunch, Fuze, Ultrahuman, and Verloop, while in India, Offline boasts prominent figures from Zomato, Rentomojo, Awfis, 1mg, Shiprocket, Cred, Noise, and Bizongo.
Benefits of an Offline membership include high impact closed-door meetings in groups of 8-10 members facilitated by skilled executive coaches, out-of-the-box social experiences to connect with fellow members, front-row seats to talks by coveted speakers, special brand benefits and perks, masterclasses with industry experts for skill-building and a 24/7 digital community for prompt advice and feedback.
“With Abu Dhabi and Dubai coming at the forefront of technology, the ecosystem in the UAE is buzzing with unmatched energy and potential,” he added.
The UAE’s booming funding rounds highlight its growing prominence as a tech hub. Since 2022, the UAE has attracted over $2.5 billion in venture capital funding, accounting for nearly 50% of the total venture funding in the MENA region, with more than 4,000 active startups operating in Dubai and Abu Dhabi.
“This dynamic ecosystem, rapidly evolving and full of opportunity, sets the perfect stage for Offline to expand its community to the UAE,” added Somani.
Unlike any other initiative in the region, Offline offers an exclusive platform that bridges the gap for founders seeking a high-caliber network and targeted support. As the tech landscape in the UAE evolves, founders are increasingly in need of a space where they can connect with peers who understand their unique challenges, access top-notch executive coaching, and engage in tailored upskilling programs. This type of specialized community is more crucial now than ever, as the demand for effective, collaborative environments grows amidst the competitive global startup ecosystem.
Another key feature of Offline’s offering is its annual retreat, which will take place in the UAE on 6-8 December this year. Members will also have the exclusive opportunity to attend the F1 Grand Prix in Abu Dhabi, combining high-caliber networking with unforgettable experiences.
Offline has also attracted funding from prominent investors including Better Capital, DeVC, Huddle, and Riverwalk Ventures. The community has quickly grown to nearly 100 members in India since its launch in January 2024, with a goal to reach 150 by the end of the year.
As Offline continues to expand its community across the UAE, it remains focused on building a network of elite members who can benefit from this unique blend of support, guidance, and connection. This expansion firmly establishes Offline as a pioneer in shaping the future of professional and entrepreneurial communities, setting a new standard for excellence and innovation in the UAE and the wider region.
