Egyptian start-ups are Africa’s new venture capital darlings

Egyptian start-ups are Africa’s new venture capital darlings

From e-commerce to edtech and fintech, Egypt’s start-ups are emerging as the preferred destination for global and regional investment, threatening to overtake South Africa, Kenya, and Nigeria.

Just in the month of June, Egypt’s start-ups are close to surpassing the $190 million they raised in 2020. Cairo based digital trucking marketplace start-up Trella closed a $42 million funding round for expansion of its services into the Middle East, North Africa, Afghanistan, and Pakistan. The round was led by Maersk Growth and Saudi Arabian venture capital company, Raed Ventures. Edtech iSchool attracted $160,000 from Edventures. There was also the acquisition of Tareeqi, an Egyptian start-up that develops transportation-tracking software by an Omani Internet of Things (IoT) company, eMusharif, for an undisclosed amount.

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