MENA's top funding rounds of September 2019
As the season begins, we've seen some interesting announcements. The highlight of the month was MaxAB from Egypt raising $6.2 million to revamp the B2B grocery marketplace — the highest seed funding raised in the region till date.
Following are the fundings announced in the MENA region, in order of their announcement:
RentSher Middle East | Dubai, UAE
RentSher is an online platform that enables people and businesses to rent a range of items for events, such as furniture, electronics, lights, decor, medical and travel essentials. It also takes bookings for services and caters to a range of events, including exhibitions, weddings, parties, and more.
Foloosi | Dubai, UAE
Foloosi facilitates “consumer-to-business card payments” through QR codes displayed by businesses; allowing customers to scan and pay with their mobile phones.
Pure Harvest Smart Farms | Abu Dhabi, UAE
Pure Harvest is a tech-enabled agriculture business that supports year-round production of fruits and vegetables. Produce from its smart farms are distributed to hundreds of hotels and supermarkets in the country. The funds being raised will go towards research and development of new technologies as well as expansion of facilities in the UAE and KSA.
Career 180 | Cairo, Egypt
A career advising platform, Career 180 will use the recently raised funding to develop its online platform as well as expand its services in Egypt. Its online platform also supports a career knowledge network that helps youth match the needs of the job market.
Dabchy | Tunis, Tunisia
Peer-to-peer fashion marketplace, Dabchy has a community of over 400,000 users in Tunisia, Morocco, and Algeria. The platform enables people to sell fashion items that are either new (never worn with tags intact), pre-loved, or self-made.
TemTem | Algiers, Algeria
Founded in 2017 by Kamel Haddar
Funding raised: $4 million in Series A
Total funding till date: $5.7 million
Lead investor: Tell Venture Automotive
TemTem is an Algeria-based ride hailing startup. With $5.7 million in total funding, it is one of the best funded startups in Algeria, within just one year of operations. With more than 4000 drivers in its network, the startup plans to expand to more cities in the country.
MaxAB | Cairo, Egypt
Consolidating and organising the currently fragmented B2B grocery market, MaxAB has raised the region’s largest seed round to date. Smaller grocery shops in Egypt cater to 90 percent of the market, yet deal with inconsistent supply and multiple middlemen. MaxAB is changing this with their simple e-commerce platform.
Glamera | Nasr City, Egypt
Founded in 2019 by Mohamed Hassan, Omar Fathy and Zafer Alshehri
Funding raised: $250,000 in Seed funding
Total funding till date: $250,000
Lead investors: Unnamed angel investor from KSA
Glamera is a mobile application that helps customers book appointments for health and beauty services, such as at gyms, salons, spas, dental clinics and more. The latest funding round will go towards expansion of its services in more cities in Egypt as well as to boost its partners.
Melltoo | Dubai, UAE
Founded in 2014 by Morrad Israne and Sharene Lee
Funding raised: Undisclosed
Total funding till date: $1.2 million
Lead investors: Gobi Partners, Sheraa Sharjah and Raed Ventures
Melltoo is a mobile-first liquidation platform where people as well as businesses come to offload goods they no longer need. The startup takes care of the shipment and delivery on a percentage commission basis. With the latest funding, it plans to set up operations in KSA.
Note: All information has been gathered by Crunchbase and media reports. Total funding till date is reflective of funding numbers disclosed.