{"id":564612,"date":"2021-02-16T13:21:06","date_gmt":"2021-02-16T13:21:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/16\/deep-tech-startup-si-ware-systems-raises-usd-9-mn-from-sawari-ventures-egypt-ventures\/"},"modified":"2021-02-16T13:21:06","modified_gmt":"2021-02-16T13:21:06","slug":"deep-tech-startup-si-ware-systems-raises-usd-9-mn-from-sawari-ventures-egypt-ventures","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/16\/deep-tech-startup-si-ware-systems-raises-usd-9-mn-from-sawari-ventures-egypt-ventures\/","title":{"rendered":"Deep tech startup Si-Ware Systems raises USD 9 mn from Sawari Ventures, Egypt Ventures"},"content":{"rendered":"

<\/a> Cairo-based microelectronics company <\/strong>Si-Ware Systems<\/a><\/strong> has raised a <\/strong>funding round worth nearly USD 9 mn<\/strong> from Sawari Ventures and Egypt Ventures, bringing total funding raised to USD 19 mn, Bassam Saadany, one of Si-Ware\u2019s three co-founders, told Zawya<\/a>. The company\u2019s founders say they bootstrapped another USD 20 mn into the business in the form of proceeds from their sideline in microchip design, which has thrown off liquidity that they funneled into their core product activity. The company is one of very few in this part of the world that focuses on the development of novel core semiconductor and hardware technologies.<\/p>\n

Si-Ware\u2019s edge is in materials identification: <\/strong>\u201cIn 2016, Si-Ware released its first chip, which was as big as a large match box and cost nearly USD 2k.\u201d Its NeoSpectra micro device, released three years later, is so small it can only be seen with an electronic microscope. \u201c\u201cNow, the lab can go to the field where the sample lies, instead of having the sample sent to the lab,\u201d Saadany said.<\/p>\n

The company is planning a split into two entities<\/strong>, NeoSpectra, which will push forward its microchip technology, and Pearl, which will specialize in the development and manufacturing of high-speed timing chips. \u201cWe are aspiring to be the first unicorn in high tech out of this region,\u201d<\/strong> CEO Hesham Haddara said.<\/p>\n

CATCH UP QUICK- <\/strong><\/p>\n

LEGISLATION WATCH- Eurobonds are now tax exempt: <\/strong>The House of Representatives voted to approve a bill to exempt capital gains made from trading government treasuries that were sold on international debt markets from fees and taxes, according to the local press<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cairo-based microelectronics company Si-Ware Systems has raised a funding round worth nearly USD 9 mn from Sawari Ventures and Egypt Ventures, bringing total funding raised to USD 19 mn, Bassam Saadany, one of Si-Ware\u2019s three co-founders, told Zawya. The company\u2019s founders say they bootstrapped another USD 20 mn into the business in the form of […]<\/p>\n","protected":false},"author":1,"featured_media":564613,"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":[10043],"tags":[633,3817,645,95],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-564612","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-startup-watch","tag-enterprisepm","tag-hisham-haddara","tag-semiconductors","tag-startup-watch","wpautop","entry"],"acf":{"mongo_id":"6ae799de-613a-4807-97d2-2437404ce1ee","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/2\/460.jpg","photo_position":"above","related_issue":[564605],"teaser":"","voice_url":""},"yoast_head":"\nDeep tech startup Si-Ware Systems raises USD 9 mn from Sawari Ventures, Egypt Ventures - 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\/02\/16\/deep-tech-startup-si-ware-systems-raises-usd-9-mn-from-sawari-ventures-egypt-ventures\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Deep tech startup Si-Ware Systems raises USD 9 mn from Sawari Ventures, Egypt Ventures\" \/>\n<meta property=\"og:description\" content=\"Cairo-based microelectronics company Si-Ware Systems has raised a funding round worth nearly USD 9 mn from Sawari Ventures and Egypt Ventures, bringing total funding raised to USD 19 mn, Bassam Saadany, one of Si-Ware\u2019s three co-founders, told Zawya. 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PLUS: Acacia invests in Senegal.","author":"enterpriseam admin","date":"10 October 2023","format":false,"excerpt":"Sawari Ventures, Shorooq Partners, and QBN Capital all invested in the semiconductor company","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\/2023\/10\/483.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593708,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/08\/e-learning-platform-al-mentor-raises-usd-4-5-mn-in-series-a-funding-led-by-sawari-ventures\/","url_meta":{"origin":564612,"position":3},"title":"E-learning platform Al Mentor raises USD 4.5 mn in Series A funding led by Sawari Ventures","author":"enterpriseam admin","date":"8 October 2019","format":false,"excerpt":"STARTUP WATCH- Dubai-based e-learning platform Al Mentor has raised USD 4.5 mn in a series A funding round led by Egyptian VC firm Sawari Ventures, with participation from Egypt Ventures, Endure Capital, and angel investor Mohamed El Amin. This brings its total funding raised to USD 8 mn, Sawari said\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":542812,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/18\/e-commerce-platform-expandcart-raises-usd-2-7-mn-in-a-pre-series-b-bridge-round\/","url_meta":{"origin":564612,"position":4},"title":"E-commerce platform ExpandCart raises USD 2.7 mn in a pre-series B bridge round","author":"enterpriseam admin","date":"18 January 2022","format":false,"excerpt":"Egyptian e-commerce platform ExpandCart raised USD 2.7 mn in a pre-series B bridge funding round led by East Asian accelerator Betatron, with follow-on investments from Sawari Ventures and Kuwait\u2019s Agility Ventures, according to an emailed statement (pdf). The new funding round will be used to fuel growth in ExpandCart\u2019s current\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":562982,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/fatura-raises-usd-3-mn-pre-series-a-round\/","url_meta":{"origin":564612,"position":5},"title":"Fatura raises USD 3 mn pre-series A round","author":"enterpriseam admin","date":"14 June 2021","format":false,"excerpt":"Egyptian B2B marketplace Fatura closed a USD 3 mn pre-series A funding round co-led by Sawari Ventures and Arzan VC, the company said in a press release (pdf). Egypt Ventures, EFG-EV, Cairo Angels, and Khwarizmi Ventures also participated in the round. 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