Egypt-based B2B medtech, iSUPPLY, secured $3 million in Sharia-compliant revenue-based revolving financing fro ..Read More

Egypt-based B2B medtech, iSUPPLY, secured $3 million in Sharia-compliant revenue-based revolving financing from Bokra, the MENA region’s first goal-driven digital investment platform. The funding aimed to scale operations and expand medical supply access across Egypt. Earlier, in June 2024, iSUPPLY raised a pre-Series A round led by Disruptech Ventures, OneStop Capital, Axian Investment CVC, and Egypt Ventures.
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• Medtech

Egypt-based fintech, Money Fellows, raised $13 million in a strategic round co-led by Al Mada Ventures and DPI ..Read More

Egypt-based fintech, Money Fellows, raised $13 million in a strategic round co-led by Al Mada Ventures and DPI Venture Capital via the Nclude Fund, with backing from Partech, CommerzVentures, and others. The funding aimed to enhance its digital platform, expand into North Africa—especially Morocco—and grow its team. This followed a $31 million Series B first close in 2022, led by CommerzVentures and MEVP.
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• Fintech

Saudi Arabia-based Miran and Egypt-based Welnes announced their merger, backed by leading investors including ..Read More

Saudi Arabia-based Miran and Egypt-based Welnes announced their merger, backed by leading investors including Flat6Labs, Samurai Incubate, UI Investments, and prominent angel investors—one of whom, a Doroob VC member, led the deal. The merger combined Miran’s AI-driven health platform with Welnes’ fitness community, reflecting strategic investor confidence and aligning with Saudi Arabia’s Vision 2030 goals of fostering a health-conscious society through innovation and local entrepreneurship.
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• Healthtech

UK-based Development Partners International (DPI), an Africa-focused PE firm, took over management of Egypt-ba ..Read More

UK-based Development Partners International (DPI), an Africa-focused PE firm, took over management of Egypt-based fintech fund Nclude from Global Ventures. Nclude, launched in 2022 with $110M anchored by Banque Misr, had deployed $28M across nine startups including Partment, Khazna, and Paymob. DPI, having invested nearly $850M in Egypt over the past decade, will advise the fund via a dedicated local team.
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• Fintech

Egypt-based semiconductor startup, InfiniLink raised $10 million in a seed funding round from MediaTek, Sukna ..Read More

Egypt-based semiconductor startup, InfiniLink raised $10 million in a seed funding round from MediaTek, Sukna Ventures, Egypt Ventures, and M Empire Angels. Founded in 2022 by Ahmed Aboul-Ella and Botros George, the startup focuses on optical data connectivity chips for AI-driven data centres. The investment aimed to accelerate InfiniLink’s development of advanced connectivity solutions leveraging analogue mixed-signal and photonics expertise.
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• Technology

Egypt-based pharma marketplace, Grinta, raised an undisclosed funding round from Beltone Venture Capital and R ..Read More

Egypt-based pharma marketplace, Grinta, raised an undisclosed funding round from Beltone Venture Capital and Raed Ventures. Founded in 2021 by Mohamed Azab, Yosra Badr, Ali Youssef, and Hamza Mohamed, Grinta connects pharmacies with traceable pharmaceutical products. The funding will support Grinta’s pivot into hybrid direct patient care following its acquisition of Citi Clinic and facilitate its planned expansion into East Africa.
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• Healthtech

PayTabs Group acquired a 51% stake in PayTabs Egypt from EFG Finance, a subsidiary of EFG Holding. The transac ..Read More

PayTabs Group acquired a 51% stake in PayTabs Egypt from EFG Finance, a subsidiary of EFG Holding. The transaction aligns with PayTabs' strategy to drive digital transformation and financial inclusion in Egypt. This acquisition strengthens its market position, enabling merchants to expand and enhancing secure payment solutions for consumers.
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• Fintech

Egypt-based waste management platform, Mrkoon, secured bridge funding from A Ventures, increasing the fund’s ..Read More

Egypt-based waste management platform, Mrkoon, secured bridge funding from A Ventures, increasing the fund’s stake in the startup to 28%. This investment supports Mrkoon’s regional expansion plans, including entry into the GCC.
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• Environment