NEWS
Endure Capital announces first close of its new $50mn fund focused on early-stage investments in Africa
Endure Capital announced that it has completed the first close of its new $50 million fund to invest in early-stage startups in pan-Africa. The fund, Endure 21, is Endure Capital’s second early-stage venture capital fund, and will focus its investments primarily on impact-driven early stage startups in Africa, with a selective approach to investing in growth-stage startups globally.
Egypt’s Pylon gets $19M to scale software for water and electricity distribution companies
Pylon, an Egyptian infrastructure management platform for water and electricity companies in emerging markets, has raised a $19 million seed round.
The round, a combination of debt and equity, was led by U.S.-based Endure Capital. Participating investors include Cathexis Ventures, Loftyinc Capital, Khawarizmi Ventures and several unnamed angel investors.
Egyptian social commerce startup Brimore raises $25M led by IFC and Endure Capital
Brimore–a market leader in the country and, to an extent, Africa–off the back of witnessing impressive growth in the last three years, has raised $25 million in a Series A round. The company was founded by Mohamed Abdulaziz and Ahmed Sheikha in 2017.
Egypt’s Breadfast wants to build ‘Gopuff for Africa and Middle East’, gets $26M backing
Breadfast, an online grocery delivery company that wants to become a regional leader in the sector has raised $26 million in Series A financing from an impressive group of investors. They include lead investors Vostok New Ventures and Endure Capital and participating investors JAM Fund (led by Tinder co-founder Justin Mateen), YC Continuity Fund, a large unnamed Saudi-based fund, Shorooq Partners, 4DX Ventures and logistics giant Flexport.
Endure Capital welcomes Mohamed Noweir as a Partner
Noweir joins Endure Capital coming from Careem, with his latest role leading marketing & growth for Careem’s Super App. Originally a software engineer, Noweir brings a unique rich mix of strategy and operations knowledge across multiple industries such as food delivery, ride hailing, marketplaces, and retail accumulated through his journey in multiple start-ups, IBM, and Mckinsey & Company.
Boom Supersonic is counted among TIME’s Best Inventions of 2021
Now, supersonic travel may be back, thanks to the XB-1 supersonic demonstrator, a 71-ft.-long, faster-than-sound jet developed by Denver-based Boom Supersonic. The jet, which tackles the Concorde’s problems with cleaner-burning fuel and noise-mitigation technology, can achieve speeds of Mach 1.7—allowing it to cover the distance from New York to London in 3.5 hours instead of six.
Generation Start-up: How Egypt’s Brimore generates income for unknown brands and sellers
The start-up began with five employees and has since grown to around 700. It now has a network of 75,000 active sellers and 300 suppliers, offering more than 8,000 products in categories that include household goods, personal care, fashion, electronics, furniture and food and beverages.
Abwaab raises $20M Series A led by BECO Capital to expand across MENA and Pakistan
Jordan-based online learning platform Abwaab has raised $20 million in a Series A funding round (following a $5 million seed round in March of this year), making it one of the most funded edtech startups in the Middle East, North Africa and Pakistan (MENAP), a region that encompasses 160 million students.
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