What's Hot

    MENA startups raised almost USD 4 billion in 2022

    January 30, 2023

    Autochek acquires KIFAL Auto, expands to North Africa

    January 27, 2023

    Wafeq raises USD 3 million in seed round

    January 26, 2023
    Gulf Africa ReviewGulf Africa Review
    • Industry
    • Infrastructure
      1. Airport
      2. Hospitality
      3. Ports
      4. Power
      5. Rail
      6. Roads
      7. Transport
      Featured

      Osun seeks to capitalise on infrastructure momentum

      Infrastructure May 21, 2018
      Recent

      KarmSolar receives USD 3 million to develop Farafra Solar Grid

      January 11, 2023

      AD Ports Group reports strong growth

      January 3, 2023

      Hyosung Heavy Industries to start construction on South African energy storage project

      December 12, 2022
    • Business & Trade
      1. Agri-Business
      2. Entrepreneurship
      3. FDI
      4. Legislative
      5. MEA
      6. Telecoms
      7. Properties
      Featured

      Analysts predict bullish future for Nigeria’s REITs market

      Business Business & Trade January 21, 2018
      Recent

      Gold-for-oil: Ghana attempts to address forex pressures

      January 18, 2023

      AD Ports Group reports strong growth

      January 3, 2023

      “Made in Libya” to promote economy and trade

      December 30, 2022
    • Finance
      1. Banking
      2. Islamic finance
      Featured

      Social investment platform InvestSky raises USD 3.4 million

      Business Entrepreneurship Finance January 12, 2023
      Recent

      Social investment platform InvestSky raises USD 3.4 million

      January 12, 2023

      African startups face challenges in 2023

      January 10, 2023

      MENA startups raised USD 125 million in December

      January 6, 2023
    • Innovation
    Gulf Africa ReviewGulf Africa Review
    Business

    Saudi’s Khwarizmi Ventures backs Egyptian startup Pylon

    April 13, 20223 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Khawarizmi Ventures
    Pylon aims to reduce waste and allow for improved revenue collection.
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Saudi’s Khwarizmi Ventures has taken part in a seed funding round for Egyptian startup Pylon, an infrastructure management platform aimed at transforming electricity and water companies in emerging markets.

    Smart Metering as a Service

    Pylon is a smart infrastructure management platform that offers subscription-based Smart Metering as a Service (SMaas) for power and water companies operating in emerging markets. Founded in 2017, the company offers a tailored software package that works with both existing and more modern metering systems to reduce operational inefficiencies, improve revenue collection, and achieve a more efficient environmental footprint, at zero upfront cost. Pylon aims to bring smart grid capabilities to power and water distribution companies, allowing them to significantly reduce losses and uncollected revenue.

    Pylon is already working with a series of companies and has deployed over one million end points of its smart grid technology to 15 distribution companies.  The influx of USD 19 million in seed funds will be used to further expand its operations. Khwarizmi Ventures were joined by the UK government’s development finance Institution, Cathexis Ventures, LoftyInc Capital Management, and angel investors. The initial funding came from US-based accelerator Y Combinator.

    Expansion plans

    The funds will be used to speed Pylon’s expansion into new emerging markets including Southeast Asia, Africa and Latin America, and advance engineering and product development. Pylon’s goal is to increase its smart metering points to three million by 2023, which would represent 4x year-on-year growth. 

    “We are delighted that our solution received such heightened interest and acclaim from a wide range of global investors. Our impact-driven vision of developing technology to better manage resources, eradicate inefficiencies and remove pain points in the utilities sector raised a call-to-action and many responded,” said Ahmed Ashour, co-founder and CEO of Pylon.

    “Our plug-and-play solution and flexible pricing models give utilities the full benefit of smart grids just by signing with us – increasing their aggregate revenue by up to 40 per cent. With a US$22 billion market opportunity, we provide a compelling model for investors who seek a fast-growing, profitable company, which, most importantly, has a significant impact on preserving our planet. Pylon’s ultimate goal is to benefit humanity, our clients, and our stakeholders.” He went on to say that the startup planned to seek increased debt facilities to fast-track the accessibility of infrastructure solutions to utilities in friable economic landscapes.

    “We are excited to support the strong team at Pylon, who are building a unique software-centric solution to support more sustainable and smart infrastructure for utilities companies in emerging markets. As one of the highest-ever valuations for a seed-stage company in the Middle East and Africa, and we are delighted to be at the forefront of positive change in the region,” said Tarek Fahim, GP and founder of Endure Capital.

    Khwarizmi Ventures Pylon saudi arabia Startup
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleRwanda and Abu Dhabi Chamber seek to expand economic cooperation
    Next Article Africa Fintech Summit Washington D.C. Opens on April 21

    Related Posts

    Business Innovation Startups

    MENA startups raised almost USD 4 billion in 2022

    January 30, 2023
    Business Entrepreneurship

    Autochek acquires KIFAL Auto, expands to North Africa

    January 27, 2023
    Business Entrepreneurship

    Wafeq raises USD 3 million in seed round

    January 26, 2023
    View 4 Comments

    4 Comments

    1. Pingback: Egyptian startups raise over USD 150 million in first four months of 2022

    2. Pingback: MENA startups raised USD 297 million in April

    3. Pingback: Endure Capital announces first close of its new USD 50 million fund

    4. Pingback: LoftyInc announces final close of Afropreneurs Fund 3 at USD 14.3 million

    Leave A Reply Cancel Reply

    LATEST STORIES

    MENA startups raised almost USD 4 billion in 2022

    January 30, 2023

    Autochek acquires KIFAL Auto, expands to North Africa

    January 27, 2023

    Wafeq raises USD 3 million in seed round

    January 26, 2023

    African startups double debt financing

    January 25, 2023

    Matbakhi raises USD 2.3 million in pre-Seed round

    January 24, 2023
    • Business
      • Agri-Business
      • Entrepreneurship
      • FDI
      • Legislative
      • MEA
      • Properties
      • Telecoms
    • Infrastructure
      • Airport
      • Hospitality
      • Ports
      • Power
      • Rail
      • Roads
      • Transport
    • Finance
      • Banking
      • Islamic finance
    • Commodities
      • Agri commodities
      • Metals & minerals
      • Precious metals
    • Culture & Society
      • Education
      • Energy
    GAR logo
    © GulfAfricaReview.com 2014-2022, All Rights Reserved.

    Gulf Africa Review is a trade news and future networking platform for businesses leaders and trade organisations, established to first inform and secondly assist in facilitating the ongoing business and trade relations between the Gulf Cooperation Council countries and Sub-Saharan Africa. We aim to provide an apolitical voice for this channel of economic activity in a way that benefits both geographies by improving the availability of information about market events, developments and opportunities, while publicising the successes achieved by this ever-broadening regional relationship.

      Subscribe to our newsletter

      Type above and press Enter to search. Press Esc to cancel.