Ten promising Egyptian technology startups have graduated from the tenth cycle of the Flat6Labs Cairo accelerator program, collectively seeking EGP 53 million in funding from local and international investors. The Demo Day, attended by Minister of Investment and International Cooperation Sahar Nasr, showcased a diverse cohort aiming to expand their operations in local and regional markets and launch new value-added services.
The graduating companies represent a wide range of sectors, including FinTech, HealthTech, EdTech, Logistics, Insurance, and Retail, each offering innovative digital solutions to address market needs.
Fueling Egyptian Innovation
The Flat6Labs Cairo program provides seed investment of up to EGP 500,000 to each startup in exchange for a 10% equity stake. The program operates through its EGP 100 million venture capital fund, the FLAT6LABS ACCELERATOR COMPANY (FAC), which aims to invest in 100 early-stage startups and over 300 entrepreneurs within a five-year period.
Moustafa Khater, the program’s managing director, highlighted the immense potential within the country, noting, “50% of Egypt’s total population of 100 million is under the age of 30, possessing diverse technological expertise.”
Meet The Graduating Cohort
The ten startups presented their ventures and future growth plans to an audience of investors and ecosystem stakeholders.
- Mosawer.net: An online platform connecting clients with a curated network of 350 professional photographers, directors, and producers from across nine Arab countries. The startup is seeking $300,000 to expand its platform and launch mobile applications.
- Wasel: A ride-sharing service for inter-governorate travel, currently operating routes between Cairo and the cities of Beni Suef, Minya, and Assiut. Wasel aims to raise EGP 4 million to expand into the Nile Delta region and develop its mobile app.
Tombeely: An e-commerce platform for genuine and aftermarket car spare parts, partnering with eight major importers and agents. The startup seeks $325,000 to enhance its platform, which has already achieved EGP 150,000 in sales in its first 45 days. - 7aweshly: A FinTech platform that functions as an online “money box,” allowing users to save small amounts from their monthly income. The company, which has partnered with four major banks, is seeking $320,000 for marketing and service development.
- Transpooler: A system that allows parents and schools to monitor the real-time location and on-road behavior of school buses. Transpooler is seeking EGP 5 million for marketing activities as it trials its system in the UAE.
- Weelo: A grocery delivery application promising delivery within 45 minutes in areas like 6th of October, Rehab City, and Tagamoa. The startup is looking for $350,000 to expand its coverage and integrate electronic payment solutions.
- Arzaa: An online recruitment platform dedicated to blue-collar and vocational jobs, connecting skilled workers with companies. With 300 corporate clients and 30,000 users, Arzaa is seeking EGP 4.5 million for marketing and expansion into Upper Egypt.
- Chefaa: A HealthTech platform that reminds patients to take their medication, helps locate and order medicines from a network of 250 pharmacies, and facilitates the fulfillment of prescriptions. Chefaa is raising EGP 5 million to integrate AI into its platform for medical data analysis.
- MedMisr: A platform that digitizes and automates medical insurance claims, reducing the processing time from 135 days to just seven. The company is seeking $350,000 to scale its network of service providers and expand its operations.
- iSagha: The first mobile marketplace in Egypt for buying gold, silver, and diamond jewelry, providing real-time pricing from the gold market. The platform, which has 12,000 users, is seeking EGP 5 million to grow its network of jewelers to 250 stores and achieve EGP 20 million in sales over 18 months.
About Flat6Labs
Flat6Labs is one of the MENA region’s leading seed and early-stage venture capital firms. Annually, it invests in over 100 innovative and technology-driven startups across the Middle East and North Africa, providing seed funding, strategic mentorship, and a focused, entrepreneur-centric program to help companies scale and achieve their potential.
Source: Almal News
