Innovative Startups and SMEs Fund invests $150,000 in Decapolis

AMMAN — The Innovative Startups and SMEs Fund (ISSF), a leading investment fund in Jordan, has announced a direct investment of $150,000 in Decapolis, a Jordan-based company providing a traceability solution that ensures food safety and quality for food producers, farmers and regulatory agencies worldwide, according to an ISSF statement.  

Decapolis is led by a mission to enable food producers to document end-to-end supply and production chains that comply with quality control standards, and validates safety and quality on a batch-by-batch basis using blockchain technology, according to the statement.

“In the wake of the coronavirus pandemic, we have been placing added emphasis on direct investments in order to allow pioneering companies to not only survive, but also thrive. Through this investment, the ISSF is accelerating the growth of Decapolis and actively empowering the company to reach its full technical and operational potentials, thus positively impacting the local economy, achieving national progress and positioning Jordan as a prime tech and entrepreneurial hub,” said ISSF CEO Laith Al Qassem.

Decapolis CEO, Abedalrhman Habashneh, said: “We are very pleased to close a round of funding with the great team at the ISSF. This investment will help us scale our technical and business operations to drive us forward towards the many opportunities we have in front of us and to further build our portfolio. This is exactly the right time for Decapolis to have available efficient solutions for the food safety traceability market for food producers and farmers.”

The ISSF is registered as a Jordanian private shareholding company. The objective of the ISSF is to support and elevate Jordan’s entrepreneurial and innovation landscape by facilitating the establishment of new investment funds that serve the ecosystem; making direct investments in innovative, export-oriented and scalable local startups; as well as implementing initiatives that improve the capabilities of Jordanian entrepreneurs and startup teams through training, capacity building and targeted incubation and acceleration programmes, according to the statement.