Dubai-based Falcon Network, a group of emerging markets-focused angel investors, has completed six investments worth $450,000 in high-growth and impact-focused startup enterprises.
The startups include Wamda X graduate Caravan, alongside Aion Sigma, Saaya Health, Teacherly, Virtual i and WorkAround.
“These exciting businesses will not only benefit from the financial capital, but also strategic expertise which our angels will provide in order to accelerate their growth potential,” said Sayd Farook, co-founder of the Falcon Network.
“We have received high-quality, invaluable mentorship and advice from the experienced and vetted angels of the network. We are ambitious and confident about the future of Caravan because we have the guidance and backing of Falcon Network and would like to thank them for their support,” said Syed Karim, founder and chief executive officer (CEO) of Caravan, an aggregator of privately operated buses in UAE to help employees find the best private bus for their work commute.
Launched at the sidelines of the Global Islamic Economy Summit, the Falcon Network includes senior executives working in both the public and private sector across the Middle East and wider Asia. Current members of the Falcon Network plan to invest a minimum of $ 50,000 by October 2020.
The next round of funding applications will open in November 2019 for investment by 2020.