*Data updated daily at 18:00 EAT
SOKNA, the Egypt-based company offering end-to-end funeral services to honor the deceased and ease the process for their families, has closed a USD 1 Mn seed round with participation from leading regional and international funds. SOKNA plans to use the investment to grow its team and expand to more cities in Egypt.
The investors include the Silicon Valley-based Mentors Fund, SBX Capital, ACE & Company, and Kabnoury Ventures, in addition to a cohort of highly strategic angel investors including Onsi Sawiris (Co-founder and Managing Partner of New York-based HOF Capital), Dr. Khaled AlMutabagani from Saudi Arabia, Ahmed Sadek El Sewedy and Farouk Kadous of ElSewedy Family Capital, Hisham Halbouny (Partner at London-based Mansour Capital), Mo El-Bibany (Founder and General Partner at Page One Ventures), Youssri Helmy (Founder and Managing Director of ITWorx, CEO of Si-Ware), Mostafa Amin (Co-founder and CEO of Breadfast), as well as senior executives from tech giants Google, Facebook, and Twitter, and other prominent angel investors.
SOKNA performs end-to-end funeral services, providing logistical assistance to the deceased’s family, including support in releasing burial permits and paperwork, body preparation, cemetery set-up, transportation, hall, and condolences service bookings, obituaries, personalized sadaqa giveaways, and post-loss support.