Saudi Arabian based Blockchain enabled Insuretech platform TakaDAO has won 2nd place at Meet the Drapers Season 6, winning $500K in funding.

Sharene Lee, Co-Founder of TakaDao stated on LinkedIn, “ We’re thrilled to announce that Takadao has secured 2nd place on Meet the Drapers Season 6 and clinched a whopping $500k in funding! It’s a testament to the hard work, dedication, and ingenuity of our incredible team. We couldn’t have done it without the unwavering support of our amazing Takatribe and the relentless efforts of every member of our team. Your belief in us has been our driving force, and we’re profoundly grateful for each and every one of you.”

Meet the Drapers, is a global entrepreneur show, where startups can pitch their ideas and win funding. Tim Draper is the host of the show. In its Season 6 it carried out a show in Saudi Arabia.

This is not the first funding received by TakaDAO. The company received a strategic investment from Cardano accelerator Adaverse in January 2024.

Adaverse focuses on scaling Web3 solutions. This came at the heels of Adaverse’s expansion into Saudi Arabia with the opening of an office in Riyadh. Adaverse is now the first venture capital fund in the KSA to specialize in Web3 and blockchain early-stage investing. In 2024, the company plans on investing $10 million in local Saudi Web3 startups.

Furthermore in October 2023 Takadao, raised $1.6 million in pre seed round led by Draper Associates. Other investors include BIM, Core Vision ventures, Prince Sultan Bin Fahad bin Salman Al Saud.

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