INFOGRAPHIC: Startup Funding in Africa and the Middle East — Week 18

• Cybertech Oasis lands $35M to Automate Non-Human Identity Security
• UAE’s e-Commerce platform WEE Receives $10M for Expansion
• Food Delivery Startup Chowdeck Raises $2.5 Million to Scale Food Delivery
• Ethiopia’s Kubik closes an additional $1.9 Million to expand its operations. 
• Shorages secure a $1 million pre-Series A Fund for Expansion

Cybertech Oasis lands $35M to Automate Non-Human Identity Security

• Israel-based Cybersecurity Non-human Identity Management (NHIM) solutions Oasis Security, has raised $35M in Series A extension funding with Accel, Cyberstarts, and Sequoia Capital, bringing the total fund raised to $75M.
• Founded in 2022 by Danny Brickman and Amit Zimerman, the company specializes in automating the lifecycle of non-human identities by helping users understand who owns and makes use of the identities, the resources, and their privilege levels.
• These new funds will be used to further its Research and Development as well as its  Go-To-Market functions which will accelerate the execution of its product roadmap and bring its platform to more organizations.

UAE’s e-Commerce platform WEE Receives $10M for Expansion

• Dubai-based e-commerce platform WEE  has secured $10M in a pre-Series A round including equity and credit facilities led by Sig Investment.
• Established in 2021 by Anastasia Kim, Oleg Dashkevich, and Sergey Kolikov, the company offers fast delivery services within Dubai and next-day delivery across the UAE with its platform providing goods in sectors such as cosmetics, pharmaceuticals, flowers, and food products.
• With this investment, WEE intends to upgrade its logistic capabilities and expand operations.

Food Delivery Startup Chowdeck Raises $2.5 Million to Scale Food Delivery

• Chowdeck, a Nigerian-based on-demand delivery service, has raised $2.5 million in seed funding led by Y Combinator, Goodwater Capital, FounderX Ventures, and Hoaq Fund amongst others.
• Founded in 2021 by Femi Aluko, Olumide Ojo, and Lanre Yusuf, Chowdeck offers convenient food orders to consumers from various restaurants while delivering to their doorstep within minutes.
• With the new funding, the company plans to scale its services to more Nigerian cities before the end of 2024.

Ethiopia’s Kubik closes an additional $1.9 million to Expand its Operations. 

• Kubik, an Ethiopian plastic recycling startup has closed a $1.9 million seed extension round after its initial $3.34million equity investment. 
• Launched in 2021 by Kidus Asfaw and Penda Marre, the company facilitates converting difficult-to-recycle plastic waste into affordable, low-carbon building materials to tackle Africa's housing and waste crises. 
• The new funding led by African Renaissance Partners, an East African venture capital firm; Endgame Capital, a climate tech investment syndicate; and King Philanthropies, a climate and extreme poverty investor will be used to expand its operations in Addis Ababa and across Africa in 2025.

Shorages secures $1 million pre-Series A Fund for Expansion

• UAE-based logistic startup Shorages has secured a $1 million pre-Series A funding round with Joa Capital, as part of the S3 Ventures Fund.
• Founded in 2019 by Rayan Osseiran, the company provides fulfilment centres in the UAE and KSA for e-commerce platforms to receive inventory and dispatch orders across the GCC region.
• This round of funding will be used for Shorages' international expansion, with plans to launch more warehouses across the GCC.

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