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African Startup Funding Tracker

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Egypt’s Pylon Raises USD 19 Mn Seed Round
Egypt’s Pylon Raises USD 19 Mn Seed Round

Egypt-based infrastructure management platform Pylon has raised USD 19 Mn+ in a Seed funding round comprising equity and debt, led by Endure Capital, Cathexis Ventures, Khawarizmi Ventures, Loftyinc Ventures, and angel investors. The investment will accelerate Pylon’s growth via expansion into other emerging markets (South-East Asia, Africa, Latin America) and advance engineering and product development.

Pylon democratizes smart grid infrastructure to energy and water distribution companies in emerging markets enabling them to capture up to USD 400 Bn of losses and uncollected revenue. Its platform uses data and artificial intelligence to improve revenue collection, reduce losses and achieve a more efficient environmental footprint.