10 million USD funding in R&D available for urban-tech companies
Press Release- July 19, 2022SUSTAINABILITY
- 10 million USD funding in R&D available for urban-tech companies
- Dubai based URB established the world’s first incubator for sustainable cities
- Anthill Capital Ventures will support bold entrepreneurs in urban technology
- Funding & mentorship open to urban entrepreneurs
- Deadline for submission 30th August 2022
The rapid increase of climate change, coupled with urbanisation & population rise are fuelling the need for cities to become zero carbon. Thus global cuts in carbon emissions have created a new race amongst cities; the race to become net-zero.
To help accelerate much-needed solutions, URB recently launched the world’s first-of-its-kind incubator for sustainable cities; an R&D programme focusing entirely on developing new solutions for the next generation of sustainable cities across the world which includes urban-tech.
Today the incubator received a significant backing by Indian-based Anthill Capital Ventures following a 10 million USD agreement, to provide investment opportunities as well as support in scaling solutions in urban-tech.
Baharash Bagherian, CEO of URB who has masterminded designs of various sustainable cities under construction, explains the importance of this partnership with Anthill Capital Ventures in helping to scale the company’s R&D programme.
“Innovation is at the heart of everything that we do. Research & development are the backbone to creating the next generation of sustainable cities. As such the incubator is at the heart of our company, which makes this partnership in R&D an important milestone. It will enable us to grow urban-tech solutions at a much larger scale, as well as provide investment opportunities to innovators that are tackling some of the most critical issues related to sustainable cities. This partnership will provide various opportunities for a new breed of innovative companies that require a platform to grow rapidly. Ultimately it will help us in our mission to accelerate the world’s transition towards sustainable developments.”
Sailesh Sigatapu, Partner at Anthill Capital Ventures highlights the significance of the urban-tech partnership. “We are delighted to partner with URB in our shared vision of enabling cities that are smart, sustainable, and responsive to citizen needs. Anthill supports bold entrepreneurs in the urban technology space who have scaled immensely; in the past year Anthill has supported our urban tech portfolio to raise combined $14M in early stage funding, expand to two new geographies each, on average, and activate marquee clients across business and government. We are certain that our partnership with the URB incubator will result in further opportunities for path-breaking, global urban technologies to scale in India.”
The world’s first incubator for sustainable cities was launched with a mission be more than a research platform. URB will transfer its sustainability know-how whilst engaging with the best minds in the world, to create an innovation hub centred around sustainable cities. URB’s aim with the incubator is to also discover, support and mentor the next generation of urban entrepreneurs. As such the incubator will empower the best young minds whilst promoting a culture of sustainability in urban planning.