Browsing: Egypt

CarLogik and 3atlana offer a range of services to vehicle owners in the UAE and Egypt respectively. The two auto-tech startups, have both announced successful funding rounds in the past two days.

International project developers and private equity firms have pledged to invest USD 32 billion in green hydrogen and ammonia projects in Egypt’s Suez Canal Economic Zone (SCZONE). This follows on from USD 10 billion pledged in May.

SubsBase, a subscription and recurring revenue management platform, closes its seed round with regional and international support.

African tech investment is dominated by Nigeria, Egypt, Kenya and South Africa, according to a report by Disrupt Africa.

Egyptian fintech firm Lucky has signed a partnership agreement with Egyptian on-demand warehousing and fulfillment platform, Khazenly. Lucky is a digital rewards app, users of which enter a points reward system to obtain discounts on purchases from over 20,000 local and international brands.

Appetito, an Egyptian online grocery service and Purity, a Saudi-based IT infrastructure firm, have signed an MoU to expand the former’s services across the MENA region.

Egypt’s Convertedin has raised USD 3 million in a round featuring regional and international investors.

Saudi Arabia’s sovereign wealth fund, The Public Investment Fund (PIF) has launched the Saudi-Egyptian Investment Company (SEIC) in order to place investments across a wide range of sectors of the Egyptian economy, from infrastructure and real estate to pharmaceuticals.

Foreign direct investment (FDI) in Egypt grew by 183% in Q1 2022, according to the Central Bank of Egypt (CBE). Q1 saw inflows of USD 4.1 billion, compared to USD 1.4 billion over the same period last year.

Backed by local and international capital, Cartona seeks to “turbo charge” expansion.