Egyptian digital logistics startup Khazenly raises $2.5 million in seed funding to drive product development
Proceeds will be used to develop Khazenly’s products and services, and quadruple its existing facilities. Geographical expansion will also be supported as Khazenly continues its rapid growth trajectory during 2022.
To support tech startups with access to finance and drive innovation and job creation primarily in Egypt, IFC announced an investment in the second fund from venture capital firm Algebra Ventures.
Cairo-headquartered e-Sport startup has raised $3 million seed funding round, bringing the company’s total investment to date to $3.7 million.
Middle East’s AI-based digital health platform Altibbi, has raised $44 million in Series B fund funding led by Foundation Holdings, Hikma Ventures and existing investors Global Ventures and DASH Ventures.
Zbooni, MENA's c-Commerce (connected commerce) platform, has announced its official launch in Egypt. The rapidly scaling startup, which is backed by regional and global investors, will support the backbone of the Egyptian economy.
Thndr, the Egyptian digital investment platform, announced a new $20 million series A investment round co-led by Tiger Global, BECO Capital and Prosus Ventures.
M2P Fintech, Asia's financial Infrastructure company, announced a $56 million Series C1 raise led by New York-based global private equity and venture capital firm Insight Partners with participation from MUFG Innovation Partners.
Orange Ventures has opened applications for its Seed Challenge that will see the VC form award one fintech startup from Egypt with $570,000 in funding.
Sympl will use the proceeds to accelerate the growth of its merchant network to serve multiple product and service categories across online and in-store merchants as well as improving the product offering to better serve the platform customers.
Egyptian fees management and digital collection platform, KlickIt, announced the closing of its first investment round to further develop its platform. The round was led by EFG Finance and Camel Ventures, the venture capital arm of dfin Holdings.
Crypto Valley Venture Capital initiates investment strategy to build blockchain accelerator for African startups
African blockchain disruptors and early-stage startups have joined CV Labs Global Incubation Program Batch 03. The African contingent of incubatees is reflective of Crypto Valley Venture Capital’s (CV VC) global investment strategy.
Sotech, an Egyptian e-health startup that specializes in smart IoT, trackable OOH advertising, and data gathering has raised $1 million in pre-seed funding round to scale its operations into the rest of the MENA region.
MaxAB, Egyptian B2B e-commerce platform that serves food and grocery retailers, has acquired WaystoCap, the Morocco-based B2B e-commerce and distribution platform that connects retailers with suppliers across Africa.
Arab Bank launched its fintech-focused corporate accelerator program “AB Accelerator” in Egypt, following its successful launch in Jordan back in 2018.
Taager, an Egyptian social e-Commerce startup raised a $6.4 million seed funding round to help it scale its platform and expand across the Middle East.
Banque Misr signed a Memorandum of Understanding (MoU), with Microsoft Egypt to launch the first open innovation program in the Egyptian market, enabling a spurt in fintech startup growth.
Early-stage investor DFS Lab announces fintech and digital economy design sprint for startups in Egypt
Early-stage investor DFS Lab announced it will facilitate a virtual design sprint in March 2021 for fintech startups in Egypt. The sprint is hosted by the Central Bank of Egypt, in collaboration with the Financial Regulatory Authority.
Egyptian life science startup Nawah Scientific announced the the closing a second pre-series A round of $1 million in mixed equity and debt capital, raising its total funding to $2 million.
Docspert Health, a telemedicine startup with operations in the UK and Egypt, announced it has successfully closed Six-Figure USD investment in seed funding from Flat6Labs and a group of angel investors in the UK and USA.
ITIDA (IT Industry Development Agency) and AUC Venture Lab announced their collaboration on Startup Launchpad, a capacity-building program that empowers entrepreneurs as they launch their technology startups.
Ibnsina Pharma signed an agreement to acquire 75% stake in Egyptian health and beauty products startup 3elagi Tech, a platform that links pharmacies with patients to order medicines and cosmetics online.
Egyptian last-mile delivery startup dreevo launches operations with pre-seed funding from EF Logistics
Egyptian last-mile delivery focused startup dreevo raised a six figure US dollar in a bootstrap, pre-seed funding round from EF Logistics, a third party logistic services provider, to introduce agile and affordable technological solutions.
IFC is joining forces with the National Bank of Egypt and MSMEDA to strengthen the clean technology entrepreneurship sector and boost Egyptian farmers’ access to finance for solar irrigation.
Egyptian fintech startup MoneyFellows has secured $4 million in Series A investment from venture capital firms Partech and Sawari Ventures.
Cairo based real estate startup Sakneen has been backed by Y Combinator in its mission to help homebuyers digitally search for and buy homes in Egypt.
MentorLycon is a tech startup headquartered in Russia with an active presence in Egypt and expanding to other African countries. It has tapped into Artificial intelligence to provide businesses with bespoke and customer-centric IT solutions