{"id":91186,"date":"2024-11-04T00:00:00","date_gmt":"2024-11-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/04\/edafa-takes-strategic-stake-in-taskedin-in-usd-multi-mn-transaction\/"},"modified":"2024-11-04T00:00:00","modified_gmt":"2024-11-04T00:00:00","slug":"edafa-takes-strategic-stake-in-taskedin-in-usd-multi-mn-transaction","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/04\/edafa-takes-strategic-stake-in-taskedin-in-usd-multi-mn-transaction\/","title":{"rendered":"Edafa takes strategic stake in TaskedIn in USD multi-mn transaction"},"content":{"rendered":"

Saudi-based Edafa Venture Capital took a strategic stake in corporate <\/strong>solutions app <\/strong>TaskedIn<\/a><\/strong> in a USD multi-mn transaction<\/strong>, it said in a statement<\/a>. Edafa did not disclose exact figures on the value of the transaction or the size of the stake it has acquired in Taskedin. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

Use of proceeds: <\/strong>The capital is earmarked for accelerating TaskedIn\u2019s expansion in Saudi, the GCC, and external markets.<\/p>\n

Edafa is going regional:<\/strong> The acquisition comes as part of the Saudi VC\u2019s push into the Egyptian market, where TaskedIn is based. Edafa is also lining up new branches in Bahrain and Qatar in an effort to back regional startups.<\/p>\n

Meet TaskedIn: <\/strong>The Egypt-born digital workspace platform provides integrated solutions for task management, human resources, payroll, attendance and departure tracking, while also supplying tools for virtual meetings. Taskedin looks to replace traditional channels for communication including emails and Whatsapp and is claimed to cut operating costs by up to 30%.<\/p>\n

IN OTHER STARTUP NEWS- <\/p>\n

Edafa Venture Capital also nabbed a 25% stake in Cairo-based edtech <\/strong>Bonyan<\/a><\/strong> for an <\/strong>undisclosed sum<\/strong>, Waya reports<\/a>. The investment will enable Bonyan\u2019s to expand its educational programs, which leverage interactive tools to teach programming and computing skills to children. <\/p>\n","protected":false},"excerpt":{"rendered":"

Funds are earmarked to accelerate Taskedin\u2019s regional expansion<\/p>\n","protected":false},"author":1,"featured_media":91187,"comment_status":"","ping_status":"open","sticky":false,"template":"","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":[2556],"tags":[3354,10,179,3355,3356],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-91186","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-edafa-venture-capital","tag-enterpriseam-ksa","tag-startup-watch","tag-taskedin","tag-tech-solutions","wpautop","entry"],"acf":{"mongo_id":"abf16c58-033b-441b-9a30-efa5f95cf8d1","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/2444.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Edafa takes strategic stake in TaskedIn in USD multi-mn transaction","related_issue":[91173],"teaser":"Funds are earmarked to accelerate Taskedin\u2019s regional expansion","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.7eb76e8c-97c1-40b7-a72b-33756d5bf8e9.mp3"},"yoast_head":"\nEdafa takes strategic stake in TaskedIn in USD multi-mn transaction - 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