{"id":567863,"date":"2020-12-09T03:48:13","date_gmt":"2020-12-09T03:48:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/09\/source-beauty-raises-second-round-of-2020\/"},"modified":"2020-12-09T03:48:13","modified_gmt":"2020-12-09T03:48:13","slug":"source-beauty-raises-second-round-of-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/09\/source-beauty-raises-second-round-of-2020\/","title":{"rendered":"Source Beauty raises second round of 2020"},"content":{"rendered":"

<\/a> Egyptian e-commerce beauty platform <\/strong>Source Beauty<\/a><\/strong> has secured a six-figure <\/strong>USD investment<\/strong> in a seed round led by Swiss investment firm Ace & Company<\/a> and a number of angel investors, the company announced in a statement (pdf)<\/a> yesterday. This is the second round of financing raised by the startup this year, after receiving an undisclosed investment<\/a> from 500 Startups in May. The proceeds from the latest funding round will be used to expand in the local market, increase its headcount and launch new marketing campaigns.<\/p>\n

ELSEWHERE ON PLANET STARTUP-<\/strong> Seven startups have won ITIDA\u2019s latest Start IT Competition <\/strong>which sees tech entrepreneurs compete for the chance to have their business incubated for one year, ITIDA said in a press release (pdf)<\/a>. Those chosen include electronic design automation tool Analog Designer's Toolbox<\/a>, graphic design digital platform DomDom<\/a>, retail computer vision solution A-eye Tech<\/a>, legal advice platform Avocato<\/a>, e-commerce app Shoppy App, Arabic and Quran learning app Hafs Quran<\/a>, and tourist storytelling app Vibes<\/a>. The startups will receive a fully-funded year in an incubator as well as business consultancy services, mentorship, and software and hardware tools, among other services.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egyptian e-commerce beauty platform Source Beauty has secured a six-figure USD investment in a seed round led by Swiss investment firm Ace & Company and a number of angel investors, the company announced in a statement (pdf) yesterday. This is the second round of financing raised by the startup this year, after receiving an undisclosed […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[72,1635,95,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-567863","post","type-post","status-publish","format-standard","hentry","category-startup-watch","tag-enterpriseam","tag-itida","tag-startup-watch","tag-startups","wpautop","entry"],"acf":{"mongo_id":"f57b7df0-4acf-443a-844d-df14fb20f389","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[567846],"teaser":"","voice_url":""},"yoast_head":"\nSource Beauty raises second round of 2020 - 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\/2020\/12\/09\/source-beauty-raises-second-round-of-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Source Beauty raises second round of 2020\" \/>\n<meta property=\"og:description\" content=\"Egyptian e-commerce beauty platform Source Beauty has secured a six-figure USD investment in a seed round led by Swiss investment firm Ace & Company and a number of angel investors, the company announced in a statement (pdf) yesterday. This is the second round of financing raised by the startup this year, after receiving an undisclosed […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/09\/source-beauty-raises-second-round-of-2020\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-09T03:48:13+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/09\/source-beauty-raises-second-round-of-2020\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/09\/source-beauty-raises-second-round-of-2020\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Source Beauty raises second round of 2020\",\"datePublished\":\"2020-12-09T03:48:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/09\/source-beauty-raises-second-round-of-2020\/\"},\"wordCount\":193,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"ITIDA\",\"Startup watch\",\"startups\"],\"articleSection\":[\"Startup watch\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/09\/source-beauty-raises-second-round-of-2020\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/09\/source-beauty-raises-second-round-of-2020\/\",\"name\":\"Source Beauty raises second round of 2020 - 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