Egypt’s Nawah Scientific raises $1 million in equity and debt to grow its scientific research platform

SourceMENAbytes
SectorFinancial Markets
CountryEgypt

Cairo-based life science startup Nawah Scientific has raised $1 million in fresh funds in a round comprised of both equity and debt, it announced in a statement to MENAbytes today. The round that takes Nawah Scientific’s total capital raised to date to $2 million was led by its existing investor Egypt Ventures, with the participation of newly launched Alexandria Fund, Cairo Angels, Alex Angels, Hult Alumni Angels, and a few other investors. Founded in 2015 by Dr. Omar Sakr, Nawah Scientific offers on-demand scientific, research, and analytical services to scientists, pharmaceutical companies, and different other users. Nawah collects samples from a user’s doorstep after receiving the experiment requests on its online platform.

Its in-house scientists then carry the needed tests in its multi-purpose lab and return the results online. The startup recently opened its new hub of labs which it claims is the biggest private multidisciplinary research hub in Egypt. Since its launch in 2015, Nawah has analyzed over 50,000 samples from more than 3,000 clients in 9 countries. For the users, the proposition is simple: high-quality scientific research at affordable rates and quick turnaround time. A large number of scientists don’t even have access to decent labs. They can use...read more...