Sawari Ventures secures US$28m to invest in Egyptian startups

EGYPT – Sawari Ventures, the Cairo-based investment management firm, has announced the close of its Egyptian fund with new commitments of US$28 million (EGP440 million) to invest in Egyptian startups both seed-stage and growth-stage. The investment was from Misr Insurance Group, Kuwait Investment Authority’s Ekuity, National Bank of Egypt, Banque Misr, Banque du Caire, and Suez Canal Bank. The investments in seed-stage companies will be made through Flat6Labs in Egypt and Tunisia, Hany Al-Sonbaty, the co-founder and Managing Partner of Sawari Ventures said. “Ten percent of the fund is earmarked…

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Deeptech startup Si-Ware Systems raises US$9m in funding round led by Sawari Ventures

EGYPT – Cairo-based microelectronics startup, Si-Ware Systems, has announced that it had recently closed a funding deal of nearly US$9 million led by the Cairo-based Sawari Ventures, with Egypt Ventures being also a major contributor. Emboldened by the development of a unique sensor that founders believe can revolutionize the field of material identification around the globe, Si-Ware aspires to eventually emerge as the region’s first deeptech unicorn. According to Bassan Saadany, one of Si-Ware’s three co-founders, semiconductors and electronics, which are not well established in Egypt or in the broader…

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