Category: Egypt
After its first $54M fund, Algebra Ventures launches $90M fund for startups in Egypt
The venture capital scene in the North African tech ecosystem will be absolutely buzzing right now with the announcement of two large VC funds in the space of two days. Today, Algebra Ventures, an Egyptian VC firm, announced that it has launched its $90 million second fund. Four years ago,…
Read More
Most African YC-backed startups in today’s batch are focused on fintech
In Africa, Y Combinator is known to be a major backer of most of the continent’s well-known startups. Two of the most talked-about in the last two quarters — Flutterwave and Paystack — are YC-backed. Their successes (Flutterwave’s billion-dollar valuation and Paystack’s rare exit to Stripe) have greatly increased YC’s appeal…
Read More
Egypt’s customer engagement platform for F&B brands in MENA, Koinz, raises $4.8M seed
As the restaurant industry across different cities was massively hit by the pandemic-induced lockdowns last year, food aggregator platforms helped by driving online customers to them. Koinz is one such startup in Egypt. Its value for food and beverages brands before, during and after the lockdowns has bagged the startup…
Read More
How African startups raised investments in 2020
The venture capital scene in Africa has consistently grown, with an influx of capital from local and international investors reaching unprecedented heights in recent years. To understand how much growth has occurred, African startups raised a meagre $400 million in 2015 compared to the $2 billion that came into the…
Read More
Google’s Fabricius uses machine learning to decode hieroglyphs
Google’s Arts and Culture vertical has been known to release fun apps and tools to help people engage with art and history. In 2018, it launched a feature to let you find your fine art doppelganger by taking a selfie, and more recently it added ways… Source
Read More
Andela CEO confirms staff cuts as layoffs hit African tech
Africa-focused tech talent accelerator Andela has let go 135 employees, CEO Jeremy Johnson confirmed to TechCrunch. Senior staff at the company — with offices in New York and five African countries — will also take salary cuts of 10% to 30%. The compensation and staff reductions are a result of…
Read More