Egyptian fintech startup Bokra recently secured $4.6 million in pre-seed funding led by DisrupTech Ventures and SS Capital, among others. The capital infusion will fuel the expansion of investment products and technological infrastructure. Bokra plans to launch its flagship application, also named “Bokra,” in Q2 2024. This user-friendly app enables Read more…
At the annual GPCA Plastics Conference themed “Innovating for Sustainable Growth,” an initiative supporting start-ups in the circular economy, clean energy transition, and climate change mitigation was unveiled. Eugene Willemsen, CEO of Africa, Middle East, and South Asia at PepsiCo, highlighted the program’s potential to address the MENA region’s climate Read more…
The use of cards, particularly prepaid ones, is on the rise in Egypt, with over 30 million in circulation, thanks to incentives introduced by fintech companies and banks. However, adoption of corporate cards among businesses has been slow due to limited access and insufficient spending controls. Fintech firms like Swypex Read more…
Egyptian group-buying platform Waffarha has secured a significant seed funding round, allocating the funds to enhance its technology infrastructure, attract talent, and expand operations beyond Saudi Arabia. Founded in 2012 by Tarek Magdy and Noha Hamdy, Waffarha offers daily discounts of up to 90% through its website and mobile app. Read more…
Egyptian fintech startup MNT-Halan has achieved unicorn status with a $400 million hybrid equity-debt financing round, valuing the company at over a billion dollars. This marks Egypt’s entry into Africa’s elite unicorn club and reflects growing investor confidence in the country’s tech sector. MNT-Halan, founded in 2017, began as a Read more…
Egyptian fintech startup MNZL has raised $3.5 million in seed funding from prominent investors like P1 Ventures, Ingressive Capital, and LocalGlobe. Their unique approach, leveraging tangible assets for secure lending, attracted support from key players in the industry. MNZL aims to revolutionize lending not only in Egypt but across Africa Read more…
DXwand, an AI-powered conversational technology company, has partnered with AstroLabs, a business expansion platform in Saudi Arabia, to launch its services. This strategic move comes after DXwand secured $4 million in Series A funding, aiming to enhance its AI capabilities and expand research and development efforts. AstroLabs, in collaboration with Read more…
ReNile, an Egyptian startup founded by Hazem El-Tawab and Ibrahim El-Zayat, has evolved from an engineering university project to a leader in IoT and environmental services. Initially focused on solar technology, they pivoted to monitoring water quality for fish farms, leading to a range of IoT-based services for agriculture. ReNile’s Read more…
The UK’s Department of Science, Innovation and Technology is working on laws to control artificial intelligence (AI) models. Even though the UK held a major AI safety meeting and set up an AI Safety Institute to check the safety of these models, there are no firm rules stopping companies from Read more…
Egyptian HRTech startup bluworks secured a $1 million pre-Seed investment, led by Khawarizmi Ventures with participation from Camel Ventures, Acasia Ventures, and angel investors. Founded in 2022 by Farah Osman, Hussein Wahdan, and Nour Ahmadein, bluworks offers HR and SaaS solutions tailored for blue-collar workers in sectors like retail and Read more…