{"id":574797,"date":"2020-09-22T04:23:56","date_gmt":"2020-09-22T04:23:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/22\/elves-closes-in-on-substantial-series-a-funding-ahead-of-el-gouna-move\/"},"modified":"2020-09-22T04:23:56","modified_gmt":"2020-09-22T04:23:56","slug":"elves-closes-in-on-substantial-series-a-funding-ahead-of-el-gouna-move","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/22\/elves-closes-in-on-substantial-series-a-funding-ahead-of-el-gouna-move\/","title":{"rendered":"Elves closes in on \u201csubstantial\u201d series A funding ahead of El Gouna move"},"content":{"rendered":"<p><strong>STARTUP WATCH- AI startup Elves is closing in on \u201csubstantial\u201d series A funding<\/strong><strong> as it gears up to move its HQ to El Gouna<\/strong>, where the entire team will be working from the Red Sea town\u2019s G Space coworking tech hub, CEO Karim El Sahy told Enterprise. El Sahy did not specify the expected size of the funding round, nor the investors who are expected to participate. Elves raised USD 2 mn from Sawari Ventures and other unnamed investors <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d3d1897d-1bfb-4adf-bcce-1e6834e6201f\">this month<\/a>, bringing its total pre-series A <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e0a94ab7-4b45-4fc5-aaa4-aa05c68629ba\">funding<\/a>to nearly USD 5 mn. The high-profile concierge-based app has already set up shop in El Gouna at the Silicon Valley-esque G Space, according to a <a href=\"https:\/\/ent.news\/2020\/9\/Elves-Gouna-press-release.pdf\">press release (pdf)<\/a>. According to El Sahy, seven employees have been relocated to G Space. Under its agreement with El Gouna, 10 developers will work out of a small office space as a first phase, before Elves moves its HQ to a seaside office and sets up 30-40 employees in its own apartment block.<\/p>\n<p><strong>Before you get too jealous of Elves\u2019 planned work setup, take heart that most others in the business community are likely on the same boat as you:<\/strong> We\u2019re talking to Cairo folk this week for a follow-up survey on who\u2019s working from the office again, who\u2019s still (mostly) working from their couches, and what the outlook is on the WFH vs. return-to-the-office dichotomy. Keep an eye out for the results in Thursday\u2019s issue.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>STARTUP WATCH- AI startup Elves is closing in on \u201csubstantial\u201d series A funding as it gears up to move its HQ to El Gouna, where the entire team will be working from the Red Sea town\u2019s G Space coworking tech hub, CEO Karim El Sahy told Enterprise. El Sahy did not specify the expected size [&hellip;]<\/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":[8572],"tags":[7094,257,1119,72,5929,7117,2380,123,10386],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-574797","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-ai","tag-el-gouna","tag-elves","tag-enterpriseam","tag-g-space","tag-red-sea","tag-speed-round","tag-startups","tag-tech-hub","wpautop","entry"],"acf":{"mongo_id":"af1a80cb-53d9-474a-b48c-b264845d0409","is_powered_by":true,"section_story_id":"ec2b8fab-2b69-4010-b139-69f85ab44591","story_type":"1","photo_url":"","photo_position":"above","related_issue":[574779],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Elves closes in on \u201csubstantial\u201d series A funding ahead of El Gouna move - 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\/09\/22\/elves-closes-in-on-substantial-series-a-funding-ahead-of-el-gouna-move\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elves closes in on \u201csubstantial\u201d series A funding ahead of El Gouna move\" \/>\n<meta property=\"og:description\" content=\"STARTUP WATCH- AI startup Elves is closing in on \u201csubstantial\u201d series A funding as it gears up to move its HQ to El Gouna, where the entire team will be working from the Red Sea town\u2019s G Space coworking tech hub, CEO Karim El Sahy told Enterprise. El Sahy did not specify the expected size [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/22\/elves-closes-in-on-substantial-series-a-funding-ahead-of-el-gouna-move\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-22T04:23:56+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\/09\/22\/elves-closes-in-on-substantial-series-a-funding-ahead-of-el-gouna-move\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/22\/elves-closes-in-on-substantial-series-a-funding-ahead-of-el-gouna-move\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Elves closes in on \u201csubstantial\u201d series A funding ahead of El Gouna move\",\"datePublished\":\"2020-09-22T04:23:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/22\/elves-closes-in-on-substantial-series-a-funding-ahead-of-el-gouna-move\/\"},\"wordCount\":254,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"AI\",\"El Gouna\",\"Elves\",\"EnterpriseAM\",\"G Space\",\"Red Sea\",\"SPEED ROUND\",\"startups\",\"tech hub\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/22\/elves-closes-in-on-substantial-series-a-funding-ahead-of-el-gouna-move\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/22\/elves-closes-in-on-substantial-series-a-funding-ahead-of-el-gouna-move\/\",\"name\":\"Elves closes in on \u201csubstantial\u201d series A funding ahead of El Gouna move - 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The value of the investment had not been disclosed at the time. The digital assistance platform has now raised nearly USD 5 mn\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":574671,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/17\/sawari-ventures-makes-follow-on-investment-in-egyptian-ai-startup-elves\/","url_meta":{"origin":574797,"position":1},"title":"Sawari Ventures makes follow-on investment in Egyptian AI startup Elves","author":"enterpriseam admin","date":"17 September 2020","format":false,"excerpt":"STARTUP WATCH- Sawari Ventures has made a follow-on investment in high-profile AI startup Elves, bringing Elves\u2019 total pre-series A funding to nearly USD 5 mn, according to a statement (pdf). The initial funding round, which has been ongoing for two years, closed in February, \u201cwith additional follow-on in July reflecting\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":591291,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/02\/elves-has-the-solution-to-all-your-to-do-list-woes\/","url_meta":{"origin":574797,"position":2},"title":"Elves has the solution to all your to-do list woes","author":"enterpriseam admin","date":"2 December 2019","format":false,"excerpt":"If you\u2019re anything like us, your ever-expanding to-do list makes you wish you had a couple of robots to get things done. Enter Elves: In the latest episode of our podcast, Making It, we talk to the brains behind Elves \u2014 Karim El Sahy and Abeer El Sisi \u2014 about\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/11\/879.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544477,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/06\/egyptian-app-elves-partners-with-travel-group-der-touristic-eastern-europe\/","url_meta":{"origin":574797,"position":3},"title":"Egyptian app Elves partners with travel group Der Touristic Eastern Europe","author":"enterpriseam admin","date":"6 March 2022","format":false,"excerpt":"Egyptian app Elves partners with travel group Der Touristic Eastern Europe","rel":"","context":"In &quot;Startup watch&quot;","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\/3\/61.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591327,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/03\/boy-meets-girl-boy-and-girl-make-elves\/","url_meta":{"origin":574797,"position":4},"title":"Boy meets girl, boy and girl make Elves","author":"enterpriseam admin","date":"3 December 2019","format":false,"excerpt":"Boy meets girl, boy and girl make Elves: When Abeer El Sisi\u2019s mom told her to stay away from the black-clad rocker type guy at the end of the room during college freshman orientation, we\u2019re sure she didn\u2019t expect that her daughter would one day marry him. 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