{"id":553371,"date":"2021-12-01T03:54:56","date_gmt":"2021-12-01T03:54:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/01\/six-egyptian-startups-eye-raising-a-combined-usd-250-mn-next-year\/"},"modified":"2021-12-01T03:54:56","modified_gmt":"2021-12-01T03:54:56","slug":"six-egyptian-startups-eye-raising-a-combined-usd-250-mn-next-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/01\/six-egyptian-startups-eye-raising-a-combined-usd-250-mn-next-year\/","title":{"rendered":"Six Egyptian startups eye raising a combined USD 250 mn next year"},"content":{"rendered":"

<\/a> You think it\u2019s been a crazy-hot year for startups raising funds in 2021? Just <\/strong>wait until next year\u2026<\/strong> Six Egyptian startups \u2014 Trella, Bosta, Mozare3, Brimore, Teegara, and Koinz \u2014 are looking to raise a combined USD 250 mn in 2022, Bloomberg Asharq<\/a> reports. It\u2019s unclear how much each company plans to raise, but all of them plan to put the funding towards expansion, whether it\u2019s growing their footprint locally or tapping new markets in the region.<\/p>\n

Regional expansion plans:<\/strong> Digital trucking platform Trella<\/a> is looking to grow its presence in the Gulf, as well as enter sub-Saharan African countries, co-founder and CFO Hatem Sabry told the news website. The platform closed one of Egypt\u2019s biggest series A rounds this year<\/a> in June, and currently operates in Egypt, the UAE, Saudi Arabia, and Pakistan. Also eyeing the GCC is courier startup Bosta<\/a>, which is looking to finalize its planned launch<\/a> in the UAE and Saudi Arabia this month or in 1Q2022, said CEO and co-founder Mohamed Ezzat. Meanwhile, social commerce platform Brimore<\/a> is heading to Kenya, a big market with advanced payment methods, according to co-founder Ahmed Sheikha. The platform, which connects independent sellers with SME manufacturers to help suppliers streamline distribution, aims to operate with 400 factories by the end of 2022.<\/p>\n

Growing in current markets:<\/strong> Food delivery-turned-loyalty and engagement app Koinz<\/a> plans to expand its footprints in its current markets, Egypt and Saudi Arabia and to double its app users to reach 2 mn, according to co-founder and CEO Hussein Mumtaz. The platform recently reported raising a USD 4.8 mn seed round<\/a> led by Tinder founder and former CMO Justin Mateen. Agri-fintech startup Mozare3<\/a> plans to establish food preparation and packaging stations and expand its footprint to 15 governorates in 2022, from seven currently, according to founding partner Hussein Abou Bakr. The company, which recently landed a seven-figure pre-seed investment<\/a>, has regional expansion in its 2023 plans, with an eye on Sudan and Morocco, Abou Bakr told Asharq. Meanwhile, e-commerce startup Teegara<\/a> wants to grow the number of local factories it works with and nearly triple the products on its platform, according to co-founder and CEO Ahmed Kayyali. The B2B marketplace recently closed a five-figure pre-seed round<\/a> led by Alexandria Angels Network, and angel investors from KSA, Egypt and the Netherlands.<\/p>\n

ALSO FROM PLANET STARTUP- Fintech newcomer <\/strong>Klickit<\/a><\/strong> has <\/strong>closed (pdf)<\/a><\/strong> its first <\/strong>investment round <\/strong>led by EFG Hermes. It will use proceeds to enhance the platform\u2019s tech stack, which will be integrated with EFG\u2019s valU consumer finance arm.<\/p>\n","protected":false},"excerpt":{"rendered":"

You think it\u2019s been a crazy-hot year for startups raising funds in 2021? Just wait until next year\u2026 Six Egyptian startups \u2014 Trella, Bosta, Mozare3, Brimore, Teegara, and Koinz \u2014 are looking to raise a combined USD 250 mn in 2022, Bloomberg Asharq reports. It\u2019s unclear how much each company plans to raise, but all […]<\/p>\n","protected":false},"author":1,"featured_media":553372,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[1344,765,72,3036,1813,95,123,2482],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-553371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-bosta","tag-brimore","tag-enterpriseam","tag-koinz","tag-mozare3","tag-startup-watch","tag-startups","tag-trella","wpautop","entry"],"acf":{"mongo_id":"79619ece-5b89-4c4e-a02e-a770befcb2ae","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/12\/196.jpg","photo_position":"above","related_issue":[553361],"teaser":"","voice_url":""},"yoast_head":"\nSix Egyptian startups eye raising a combined USD 250 mn next year - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/01\/six-egyptian-startups-eye-raising-a-combined-usd-250-mn-next-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Six Egyptian startups eye raising a combined USD 250 mn next year\" \/>\n<meta property=\"og:description\" content=\"You think it\u2019s been a crazy-hot year for startups raising funds in 2021? 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The VC outfit plans to invest USD 15 mn in startups by the end of this year and to reach final close on the\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/138.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562494,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/26\/sawari-ventures-to-make-new-north-africa-investments-this-year\/","url_meta":{"origin":553371,"position":4},"title":"Sawari Ventures to make new North Africa investments this year","author":"enterpriseam admin","date":"26 May 2021","format":false,"excerpt":"Cairo-based venture capital firm Sawari Ventures plans to make new investments in Tunisia or Morocco this year, a source at Sawari told Enterprise, without specifying an amount or an exact date. The source spoke on condition of anonymity. Sawari has earmarked some EGP 250 mn from its EGP 1 bn\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/233.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566463,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/trella-closes-usd-42-mn-series-a-round-co-led-by-maersk-vc-arm\/","url_meta":{"origin":553371,"position":5},"title":"Trella closes USD 42 mn series A round co-led by Maersk VC arm","author":"enterpriseam admin","date":"21 June 2021","format":false,"excerpt":"Egyptian digital trucking platform Trella closed a USD 42 mn series A round co-led by Maersk Growth, the venture capital arm of container shipping giant Maersk, according to a statement (pdf). The financing includes USD 30 mn new equity and USD 12 mn debt facilities, which likely go towards the\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/548.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/553371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=553371"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/553371\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/553361"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/553372"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=553371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=553371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=553371"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=553371"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=553371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}