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Egyptian startup Nawy closes 7-figure seed round. 2 other things and a trivia



Egyptian startup Nawy closes 7-figure seed round. 2 other things and a trivia

This line-up of stories will help you discover the latest happenings around the tech world, today.

1. Egyptian startup Nawy closes 7-figure seed round

Egyptian startup Nawy closes 7-figure seed round. 2 other things and a trivia

Cairo-based prop-tech startup, Nawy, has announced closing a seven-figure seed funding round to bolster its technology.

The startup was founded in 2016 by Mohamed Abou Ghanima, Abdel-Azim Osman, Ahmed Rafea, Aly Rafea, and Mostafa El Beltagy.

According to local media houses, the startup will use the fund to finance its plans to diversify its services, and expand its team to serve more areas across Egypt.

Launched four years ago, Nawy allows users to browse houses online using customisable criteria such as unit space, price and location.

The startup claims to have helped over 30,000 individuals find their properties so far, and has seen 300 per cent growth in 2021.

Tech Trivia:

Which of the following ecommerce solutions was built by Nigerians?

A. Ebay
B. Amazon
C. Listbuy
D. Alibaba

Answer: See end of post

2. Edtech Go1 closes $200M to become unicorn

Egyptian startup Nawy closes 7-figure seed round. 2 other things and a trivia

Leading corporate edtech startup, Go1, has closed a $200-million Series D funding round to finish as a unicorn.

Skyrocketing the company into unicorn status, the new raiser brings its valuation to over $1 billion.

Founded by SA entrepreneur Melvyn Lubego and Australian national Andrew Barnes in 2015, the edtech platform collates existing learning material from leading global educational institutions into a central digital library, making corporate training simple for employees and employers.

Read also: TechNigeria: A weekly digest of what went down in Nigeria’s tech space

Newly-established VC SoftBank Vision2 led the round, and was supported by Airtree Ventures, Salesforce Ventures, Blue Cloud Ventures, Larsen Ventures, TEN13, and Tiger Global.

Speaking on the development, Co-founder and Director Lubego, expressed his excitement over the turn of event.

He said: “It’s crazy to think how far we’ve come, but our North Star has remained the same, which is that we exist to unlock positive potential in people through a love for learning.

“ I think that, ultimately, this raise validates the size of the problem we’re trying to solve and the size of the opportunity to address that problem.”

3. Egyptian Swvl set to go public at $1.5bn valuation after merger

Egypt-founded ride-sharing startup Swvl is set for an initial public offering (IPO) on the Nasdaq exchange after a merger.

The merger involved the startup and a special purpose acquisition company (SPAC) that values it at US$1.5 billion.

Described as a rare African “unicorn”, the startup was founded by Mostafa Kandil in 2017.

Being a mass-transit system, the startup enables riders heading in the same direction to share a ride in a van or bus.

The startup’s proprietary mobility solutions are helping to solve mass transit supply and demand challenges in emerging markets, empowering underserved communities with transportation solutions that are reliable, convenient, safe, and affordable.

The startup is among the best-funded in Africa, with an estimated US$170 million raised including a US$42 million Series B-2 round in 2019.

Tech Trivia Answer: Listbuy

Listbuy is a social commerce platform, built by Nigerian techprenuers, that enables small businesses and individuals create and share their online stores, accept payment and allow users ship products to their customers seamlessly, and on the go.

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