Egypt's Nawah Scientific raises $1 million in equity and debt to grow its scientific research platform
Summary
Cairo-based life science startup Nawah Scientific has raised $1 million in fresh funds in a round comprised of both equity and debt, it announced in a statement to MENAbytes today. For the users, the proposition is simple: high-quality scientific research at affordable rates and quick turnaround time. Our work has significantly empowered the scientific society in Egypt and we are expanding next year to surrounding countries with an aggressive plan to cover MENA and Africa in the foreseeable future. We have witnessed Nawah firsthand and we have seen how they deliver on their promise to empower scientific research in the entire MEA region and we are thrilled to be part of their journey as they scale their offerings and expand into new markets.Tarek El Kady, the General Partner of Alexandria Fund, said, We have closely witnessed Nawahs journey firsthand with great pride as Alexandria Angel Network. Nawah is perfectly set to serve a huge market in the Middle East & Africa, and we are happy to have Nawah among the very first investments of our early-stage venture fund.Nawah Scientific had won second place (and prize money of $150,000), in the first edition of Jack Mas Africa Netpreneur Prize in late 2019.