Category: Northern Africa

Swvl Nabs USD 8 Mn In Series A Round Of Funding – The Largest For Any Tech Start Up In Egypt

This stands to be the largest round of funding for any tech start up in Egypt as per Mostafa Kandil, who, along with Ahmed Sabbah and Mahmoud Nouh co-founded the transport tech company – Swvl. It has secured USD 8 Mn in its Series A round of funding led by BECO Capital, Silicon Badia and DiGAME. Other participants included Raed Ventures, […]

Intercity-Bus Booking Startup Lagare.ma Impressed Investors In 30 Seconds, Landed USD 217 K Funding

Morocco-based bus booking platform Lagare.ma has landed USD 217 K from an international private equity group. The investment will be used to accelerate growth in Morocco as well as to expand the company footprint to other African countries with major gaps in their transport networks, thus rendering scope for improvement. As of now, the startup is […]

Egypt’s Shezlong Has Secured USD 350 K From 500 Startups, Endure Capital And HIMangel

Cairo’s mental health startup Shezlong has raised USD 350 K in a bridge round from 500 Startups, Endure Capital and HIMangel. The startup plans to utilize the funds to expand its services to other countries in the Gulf region. With this round, Shezlong has raised to the tune of USD 509 K by now. In […]

Tunisia Set To Become A ‘Startup Nation’ – Parliament Passes the Startup Act

After two years of deliberation, the Tunisian Parliament passed the ‘Startup Act’ early this month. The Act was formulated by keeping the ecosystem involved and is touted to set the country on the path of becoming a startup nation. Definition of a startup is chalked out clearly which states that the company should not have existed […]

A Win In Egypt For Careem And Uber

There is jubilation in Cairo for both Careem and Uber after a successful appeal ruling from Egypt’s Court of Urgent Matters. Last month, WeeTracker reported that the two ride-hailing services had their operating licenses revoked after Egypt’s Administrative Court ruled in favour of 42 taxi drivers. The drivers petitioned the court to cancel both their […]

Banned In Egypt, Tipping Feature In South Africa -The Uber Anomaly

Coming out of a tumultuous week, Uber has had its license withdrawn and doors shut in Egypt after a drawn-out court ruling. However, they are not the only ones to suffer this fate. Fellow competitor Careem has also been dealt the same blow after Egypt’s Administrative Court ruled in favor of 42 taxi drivers seeking […]

Samsung Acquires Egypt Based AI Startup Kngine

As per an announcement made by Samsung Electronics to The Investor on March 6, its affiliate Samsung Next has acquired a 100-percent stake in Egypt’s AI startup Kngine. Kngine, launched in 2013, uses AI to develop an understanding of content by continuously reading the Web. The mobile solution then builds a memory of the knowledge. This technology helps […]

UN launches its African Technology Innovation Lab in Egypt

The UN has announced the opening of its African Technology Innovation Lab (UNTIL) in Egypt on the sidelines of the latest Cairo ICT Conference, held under the aegis of Egypt’s President Abdel Fattah el-Sisi. The announcement came after The Egyptian Minister of Communications and Information Technology Yasser ElKady had witnessed the signing of a Memorandum […]

Startup Incubator – The 777 – Launched in Tunisia

Startup incubator – The 777 –  launched in the Tunisian city of Sousse last month. It provides  young entrepreneurs with a range of infrastructure, business advisory, mentoring and financial services in return for equity. The incubator will screen applications from startups, integrate them into its programme to develop their businesses, and allow them to pitch […]

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