{"id":621164,"date":"2024-06-02T00:00:00","date_gmt":"2024-06-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/02\/algebra-ventures-backs-moroccan-agritech-startup-plus-news-from-taqa-and-acdima\/"},"modified":"2024-06-02T00:00:00","modified_gmt":"2024-06-02T00:00:00","slug":"algebra-ventures-backs-moroccan-agritech-startup-plus-news-from-taqa-and-acdima","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/02\/algebra-ventures-backs-moroccan-agritech-startup-plus-news-from-taqa-and-acdima\/","title":{"rendered":"Algebra Ventures backs Moroccan agritech startup. PLUS: News from Taqa and ACDIMA"},"content":{"rendered":"

STARTUPS-<\/p>\n

Homegrown Algebra Ventures invests in Morocco's YoLa Fresh:<\/strong> Cairo-based VC firm Algebra Ventures participated in a pre-Series A funding round for YoLa Fresh<\/a><\/strong>, helping the Moroccan agritech startup raise USD 7 mn, according to a statement (pdf)<\/a>. The round was led by Al Mada Ventures<\/a> and with participation from E3 Capital, Janngo Capital, and the Dutch entrepreneurial development bank FMO. YoLa will use the funding to expand its logistics network and introduce more farmers to its platform.<\/p>\n

The VC has been doing a lot of investing: <\/strong>Algebra Ventures invested over 10 mn in ten companies in 2023 and plans to invest another USD 20 mn this year. <\/p>\n

Want more about what\u2019s in the pipeline for Algebra? <\/strong>We had coffee<\/a> with Karim Hussein, managing partner of Algebra Ventures to discuss how the VC has been handling economic headwinds, what it looks for in startups, and what Algebra has planned for the coming period.<\/p>\n

ENERGY- <\/p>\n

Taqa Arabia subsidiary to supply Elsewedy Industrial City with LNG in Tanzania:<\/strong> Taqa Arabia subsidiary and Egypt-based LNG-focused energy company<\/a>Rosetta for Energy Solutions<\/a> will provide Elsewedy Industrial Development\u2019s Elsewedy Industrial City in Tanzania with LNG under a recently inked MoU, according to a joint statement (pdf)<\/a>. The agreement will see Rosetta send LNG by truck in specialized containers from a small-scale liquefaction facility in Dar es Salaam to the industrial park some 100 km away, where it will be regasified for use.<\/p>\n

PHARMA-<\/p>\n

Pharma cooperation with Cuba:<\/strong> Egypt and Cuba will work to strengthen cooperation in the fields of pharma and biotechnology under an MoU inked between the Arab Company for Drug Industries and Medical Appliances (ACDIMA) and Cuba-based pharma company BioCubaFarma<\/a>, according to a statement<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

Algebra Ventures participated in a pre-Series A funding round for YoLa Fresh<\/p>\n","protected":false},"author":1,"featured_media":621165,"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":[7209],"tags":[1184,398,111,93,72,316,615],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-621164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-agritech","tag-algebra-ventures","tag-also-on-our-radar","tag-energy","tag-enterpriseam","tag-morocco","tag-taqa-arabia","wpautop","entry"],"acf":{"mongo_id":"c8da5252-f873-4a7a-9a57-9f0a024b2d73","order":"12","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/72.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s Algebra Ventures backs Moroccan agritech startup","related_issue":[621144],"teaser":"Algebra Ventures participated in a pre-Series A funding round for YoLa Fresh","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.409e9caf-e9e9-4df9-b3e3-83919ec0b663.mp3"},"yoast_head":"\nAlgebra Ventures backs Moroccan agritech startup. 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San Francisco-based VC fund NFX Capital participated in the funding\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":566759,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/12\/yodawy-lands-usd-7-5-mn-in-a-series-b-funding-round\/","url_meta":{"origin":621164,"position":1},"title":"Yodawy lands USD 7.5 mn in a series B funding round","author":"enterpriseam admin","date":"12 July 2021","format":false,"excerpt":"Yodawy raises USD 7.5 mn in a Algebra, MEVP, Global Ventures-led series B funding: Pharma platform Yodawy has landed USD 7.5 mn in a series B funding round led by Algebra Ventures, Beirut-based Middle East Venture Partners (MEVP) and UAE-based venture capital fund Global Ventures, according to an emailed statement\u2026","rel":"","context":"In "SPEED ROUND: STARTUP WATCH"","block_context":{"text":"SPEED ROUND: STARTUP WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-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":543439,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/brimore-secures-usd-25-mn-in-series-a-funding\/","url_meta":{"origin":621164,"position":2},"title":"Brimore secures USD 25 mn in series A funding","author":"enterpriseam admin","date":"1 February 2022","format":false,"excerpt":"Social commerce startup Brimore has raised USD 25 mn in series A funding, the company announced in a statement (pdf) yesterday. The round was led by the International Finance Corporation and Silicon Valley VC Endure Capital, and featured participation from Fawry, Flourish, and Endeavor Catalyst Fund, as well as existing\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\/2\/6.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568796,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/04\/egyptian-food-tech-startup-elmenus-raises-usd-8-mn-in-series-b-round\/","url_meta":{"origin":621164,"position":3},"title":"Egyptian food-tech startup Elmenus raises USD 8 mn in series B round","author":"enterpriseam admin","date":"4 February 2020","format":false,"excerpt":"STARTUP WATCH- Elmenus raises USD 8 mn in Algebra, Global Ventures-led series B funding round: Cairo-based food-tech startup Elmenus has raised USD 8 mn in a series B funding round led by our friends at Algebra Ventures and UAE-based venture capital fund Global Ventures, according to an emailed statement (pdf).\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":571447,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/12\/brimore-raises-usd-3-5-mn-in-pre-series-a-investment\/","url_meta":{"origin":621164,"position":4},"title":"Brimore raises USD 3.5 mn in pre-series A investment","author":"enterpriseam admin","date":"12 May 2020","format":false,"excerpt":"STARTUP WATCH- Cairo-based social commerce platform Brimore has raised USD 3.5 mn in a pre-series A funding round led by Algebra Ventures, the company announced in a statement to Enterprise (pdf). Flat6Labs, Disruptech, Vision Ventures and 500 Startups also participated in the round. The investment comes a year after the\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":549911,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/algebra-ventures-nets-usd-100-mn-first-close-on-second-fund\/","url_meta":{"origin":621164,"position":5},"title":"Algebra Ventures nets USD 100 mn first close on second fund","author":"enterpriseam admin","date":"5 October 2022","format":false,"excerpt":"Venture capital firm Algebra Ventures\u2019 second fund has reached a USD 100 mn first close, surpassing the USD 90 mn initially targeted, according to a companystatement(pdf). 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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/621164","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=621164"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/621164\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/621144"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/621165"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=621164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=621164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=621164"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=621164"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=621164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}