African startups are making significant progress. In this context, the digital economy platform FollowICT highlights the top startup news across Africa over the past week. – MAX Secures USD 8 M Debt Funding To Scale Electric Mobility In Africa Metro Africa Xpress (MAX), an African electric mobility platform that evolved from a now-discontinued bike-hailing operation in Nigeria, has secured USD 8 M in debt funding from Netherlands-based impact investor Triple Jump to scale its clean transport operations. Founded in 2015 by Adetayo Bamiduro and Chinedu Azodoh, MAX provides electric vehicles, battery-swapping infrastructure, and Pay-As-You-Go (PAYGO) financing for commercial drivers. Operating…
Author: Mohamed Fathy
Thndr, Egypt’s leading retail investment platform, has ranked #1 on the Financial Times Africa’s Fastest-Growing Companies 2026, becoming the first Egyptian company in the ranking’s five-year history to claim the top spot. Fastest-Growing Businesses Compiled by the Financial Times in partnership with Statista, the ranking identifies Africa’s fastest-growing businesses, evaluated across three metrics: absolute revenue growth, compound annual growth rate (CAGR), and employee growth between 2021 and 2024. Thndr ranked the first, ahead of companies from South Africa, Kenya, Nigeria, and across the continent. Investing Platform Since launch, Thndr has now grown to over 5.5 million downloads, with over 75-80%…
Byit, an Egypt-born proptech startup, has announced its expansion into the UAE alongside the launch of a new suite of AI powered solutions. These tools are designed to empower real estate brokers and enable more efficient cross-border property transactions. Strategic Funding The move comes just months after the strategic funding round backed by A15, Beltone Holding, and a group of angel investors. This investment reinforces confidence in Byit’s vision to modernise real estate broking across the region. As part of its regional expansion strategy, Byit has established Byit Ventures in the UAE. This positioning allows the company to connect Egyptian…
Egrobots, a leading specialist in DeepTech and intelligent robotics, has officially announced the launch of the first autonomous agricultural harvesting robot fully developed by Egyptian engineers. This milestone represents a pioneering step for both Egypt and the Arab region, showcasing the advanced capabilities of Egyptian firms in the fields of Artificial Intelligence, autonomous systems, and deep technology. Agricultural Automation The new robot introduces a paradigm shift in the concept of agricultural automation and smart farming, as it was built using sophisticated computer vision, AI, and autonomous navigation systems. These technologies enable the robot to identify ripe crops, determine the most…
African startups are making significant progress. In this context, the digital economy platform FollowICT highlights the top startup news across Africa over the past week. – Nigeria-Based Fintech Startup Bfree Raises Fresh Capital to Tackle Non-Performing Loans With AI Across Africa Nigerian credit management startup Bfree has successfully raised fresh capital in a funding round from undisclosed investors. This latest financial boost aims to enhance Bfree’s innovative platform, which utilizes artificial intelligence (AI) to manage and recover defaulted digital loans across Africa’s burgeoning fintech landscape. Since its founding in 2020 by Julian Flosbach, Chukwudi Enyi, and Moses Nmor, Bfree has…
Startup Sync, an integrated entrepreneurship platform active in Egypt and Saudi Arabia, has announced its strategic sponsorship of the Business Lobby event, set to take place on Saturday, 9 May 2026, at the Heliopolis Library in Cairo, bringing together a select group of entrepreneurs, investors, and industry experts. Interactive Platform The fifth edition of Business Lobby will take place as an interactive platform designed to foster meaningful collaboration among key players in the entrepreneurship ecosystem. The event aims to turn professional connections into real investment opportunities and scalable partnerships, in line with its vision of redefining modern business communities. The…
African startups are making significant progress. In this context, the digital economy platform FollowICT highlights the top startup news across Africa over the past week. – SA’s Shiprazor raises $2.65m to build intelligent logistics layer for African e-commerce South African e-commerce merchant technology and smart logistics platform Shiprazor has raised US$2.65 million in seed funding to help African online merchants reduce delivery costs, improve conversion, and simplify fulfilment. Founded in 2023 and based in Cape Town, Shiprazor is an e-commerce logistics platform that helps merchants reduce delivery costs, improve fulfillment performance, and simplify shipping at scale. Through a single integration,…
Egypt is participating for the first time with a dedicated pavilion featuring 10 technology startups at SusHi Tech Tokyo 2026, held in Tokyo, Japan, from April 27 to 29, 2026. The participation comes as part of an official delegation led by the Information Technology Industry Development Agency (ITIDA), in collaboration with the Japan International Cooperation Agency (JICA), reflecting the growing global presence of Egypt’s technology startups. The Egyptian pavilion received an official visit from H.E. Ambassador Ragui ElEtreby, Egypt’s Ambassador to Japan, and Ms. Yuriko Koike, Governor of Tokyo, highlighting the importance of Egypt’s participation at the event. Strategic Partnership…
The opening of Alshaya Group’s first global Contact Center and Information Technology hub in Egypt represents a significant milestone in the company’s journey, reflecting its long-term commitment to this vital and fast-growing market, said the Group’s Managing Director in Egypt. Janset kasht stated that the Alshaya Global Contact Center and IT hub serves the Group’s markets across the Arab region, in addition to markets in Europe and Asia. She added that Egypt has become a key strategic partner in Alshaya’s regional growth journey, noting that the establishment of this global hub reflects the importance of Egypt’s role within the Group’s…
iSchool, the leading K-12 AI and coding education platform in the MENA region, today announced the acquisition of Rubikal, a globally recognized software engineering company, in a strategic move to accelerate the development of its next-generation AI products and infrastructure for schools. The Team As part of the acquisition, Rubikal’s leadership team and engineering talent will join iSchool. Mohamed Ibrahim, Co-founder of Rubikal, will take the role of Chief Technology Officer (CTO) at iSchool, while Moustafa Badawy, Co-founder, will join as Vice President of Engineering. The transaction also brings a team of 21 software engineers into iSchool’s growing technology division.…
Sinai.ai, the next-generation adaptive reading platform transforming books into dynamic, intelligent experiences, today announced the close of its $1.45M pre-seed funding round. The round was led by KAUST Innovation Ventures (KIV) and DisrupTech Ventures, with participation from Maza Ventures and YOUXEL Ventures, alongside a coalition of angel investors. The capital will fund proprietary tech, AI infrastructure, user acquisition, and licensing. Global Book Market The global book market represents over $150 billion in value, yet the core format of books has remained largely unchanged for decades. Sinai.ai was founded on the conviction that this is about to change, and that the…
Behind every frictionless financial app lies a sophisticated digital foundation; as embedded finance scales globally, fortifying this core infrastructure is now the industry’s central focus. Leading this charge is Banknbox, a Banking-as-a-Service (BaaS) platform rapidly evolving from a MENA regional powerhouse into a cross-border infrastructure provider currently powering financial services across the Middle East, Africa, Asia, and now Europe. Digital Demand Targeting geographies where digital demand is surging but legacy systems remain constrained, Banknbox is scaling its modular infrastructure to help banks, fintechs, and enterprises launch financial products in record time. Expanding Over the past year, the company has capitalized…
African startups are making significant progress. In this context, the digital economy platform FollowICT highlights the top startup news across Africa over the past week. – African tech startups raise $382m in Q1 2026, up 35% on same period last year African tech startups raised a total of US$382 million in the first quarter of 2026, up 35 per cent on the US$284 million raised in the same period of 2025. Total investment into the African tech startup ecosystem increased by almost 50 per cent to US$1.64 billion in 2025 as the sector began to slowly recover from the impacts…
PMaestro has announced the signing of a strategic partnership with Saudi Arabia’s Safari Group, the exclusive regional franchise rights holder of the global brand Chuck E. Cheese, to launch an integrated investment and operational platform in Egypt’s entertainment sector. The project carries an estimated investment of around EGP 2 billion, reinforcing foreign direct investment inflows and supporting the state’s efforts to stimulate economic growth and entrepreneurship. Investment Opportunities This partnership comes within a shared vision aimed at capitalizing on Egypt’s promising investment opportunities, particularly in value-added service and entertainment sectors, which are witnessing growing demand driven by demographic shifts and…
Raedbots officially announced its launch today as the first company in Egypt and the Middle East specializing in the local design and manufacturing of industrial robots. Founded to meet the surging demand for automation in the region, Raedbots provides advanced robotic solutions that are more cost-effective, accessible, and specifically tailored to local industrial needs compared to imported alternatives. Mohamed Ibrahim, Chief Technology Officer (CTO) of Raedbots, stated that the company is redefining automation: “We aren’t just building industrial robots; we are providing integrated robotic solutions that help facilities and factories optimize productivity, reduce costs, and enhance safety standards.” He added…
African startups are making significant progress. In this context, the digital economy platform FollowICT highlights the top startup news across Africa over the past week. – Pre-seed investment programme Madica puts $600k into 3 new startups Madica, a structured investment programme for pre-seed African startups, has expanded its portfolio by announcing new investments in three tech-enabled startups – Kilimo Fresh, Hakimu, and Biovana. Launched in 2022, Madica is an Africa-focused pre-seed investment programme empowering underrepresented and underfunded mission-driven founders on the continent. The sector-agnostic platform, affiliated with Flourish Ventures, aims to empower entrepreneurs by providing funding and democratizing access to…
Founders Media, the parent company of WAYA Media, has announced a strategic investment from Foras.ai, a move that accelerates the platform’s capacity to scale its bilingual coverage of business and startup news across Egypt, the Gulf, and the broader MENA region. Exits MENA The transaction was advised and facilitated by Exits MENA, an investment advisory boutique in which Foras.ai holds a stake. The firm is focused on supporting startups and SMEs across the region through deal structuring, advisory, and execution. WAYA Media is a bilingual business and startup news platform serving founders, operators, and investors across Egypt, the Gulf, and…
African startups are making significant progress. In this context, the digital economy platform FollowICT highlights the top startup news across Africa over the past week. – Angolan transport startup ANDA raises $1.2m funding to further “drive-to-own” model Angolan startup ANDA, which has developed an innovative “drive-to own” model that empowers drivers of two-, three- and four-wheeled vehicles, has secured US$1.2 million in funding from private credit impact fund BFA Asset Management (BFAAM). Founded in 2022 by Sergio Tati and Joerg Nuehrmann, ANDA is a fast-growing startup that is professionalising urban transport through an integrated mobility and logistics ecosystem. It offers…
Farid Academy, an Egyptian startup specializing in educational technology and character development for children and adolescents, has officially been granted the “Startup Label” under Egypt’s National Startup Charter. This designation makes Farid the first EdTech firm in the country to receive the prestigious status, cementing its role as an innovation leader at the intersection of digital education and mental wellbeing. National Definition of Startups The certification was awarded by the Micro, Small, and Medium Enterprises Development Agency (MSMEDA). It follows a rigorous vetting process to ensure compliance with the unified national definition of startups, a government initiative designed to bolster…
The Information Technology Industry Development Agency (ITIDA) has concluded the Aswan Bootcamp Series program,successfully supporting 61 tech startups in Upper Egypt, several of which have collectively secured investments estimated at EGP 200 million, underscoring growing investor confidence in Egypt’s entrepreneurial talent and innovative tech startups. The closing event was held at the Digital Egypt Innovation Hub Creativa in Aswan, attended by Engineer Amr Lashin, Governor of Aswan; Engineer Ahmed Elzaher, CEO of ITIDA; ProfessorLoya Saad El-Din Nasrat, Acting President of Aswan University; and Ms. Karima El Hakim, Partner at Plug and Play Africa, alongside a distinguished group of entrepreneurs, startup…