The Mohammed Bin Rashid Innovation Fund (MBRIF) has announced an AED2 million credit guarantee for Wisewell, a UAE-based water technology company, in a move aimed at accelerating its smart water purification technology.
MBRIF, launched by the Ministry of Finance to support the country's innovation and entrepreneurship ecosystem, said the guarantee will fund Wisewell's capital investment, business development, and research and innovation activities. It will also strengthen the company's capabilities in Internet of Things (IoT)-enabled water purification.
Wisewell offers a sustainable alternative to single-use plastic products. Its systems purify water at the source and provide real-time data, allowing households and businesses to monitor water quality, environmental impact and consumption.
Fatima Yousif Alnaqbi, Acting Assistant Undersecretary for the Support Services Sector at the Ministry of Finance and its representative at MBRIF, described Wisewell as a strong example of a home-grown company using advanced technology to tackle environmental and public health challenges. She said supporting such firms helps strengthen the UAE's position as a global hub for innovation and sustainable development.
Sami Khoreibi, Founder of Wisewell, called the support an important milestone. He pointed to the challenges of bottled water, including delivery, plastic waste and clutter, and said the funding will help replace all three faster while the company keeps building its technology platform in the UAE.
To date, Wisewell has prevented more than 17.4 million single-use plastic bottles from reaching landfills. The company has been selected for the Ministry of Economy's Future100 initiative and was among the top 20 finalists in Majra's Sustainable Impact Challenge 2025.
The Guarantee Scheme allows high-potential businesses to access financing without giving up equity, helping them invest in technology, strengthen operations and achieve sustainable growth.
News Source: Emirates News Agency
