Play:Date raises investment from Modus Capital
UAE-based Play:Date, an application that helps parents build their child’s social circle, has secured a $250,000 investment from New York-based Modus Capital.
Play:Date will use the investment to grow its presence in the Middle East with plans for international expansion. Modus Capital intends to aid Play:Date, in tech support, management, investor relations, and overall leadership support in a bid to become globally competitive.
“The opportunity to work with Modus Capital poses exciting expansion opportunities for Play:Date. We decided to work with them as they are not your typical venture capitalists that are solely focused on investing, instead they actively assist entrepreneurs by supporting with strategies and high-growth prospects. Additionally, we required a firm that had presence not only in the region but also in the US, as it is currently our biggest market outside the UAE,” said Shamim Kassibawi, founder and CEO of Play:Date.
The mobile app allows parents to engage with each other based on the interests and personalities of their children, further expanding a parent’s network within the community. The app features various vouchers and offers, exclusive to Play:Date members, giving brands access to a direct channel to connect with their customer base for continued exposure and brand recognition. The app also hosts regular playdate tours at various play areas, and virtually during Covid-19
“They are tackling a major connectivity and discovery pain-point for early parents that we see a major demand for in both Mena and US markets, and they're doing so in the most innovative ways. We're keen to support socially impactful companies and Play:Date fits the criteria on multiple levels,” said Kareem Elsirafy, managing partner at Modus Capital.