INFOGRAPHIC: Startup Funding in Africa and the Middle East — Week 27
Here are the venture funding activities we tracked in the Middle East and African region this week–including Boston Oncology Arabia, Blueroomcare, Jeel, and El Kheta.
- Saudi Arabia's Boston Oncology Arabia raised $35M in funds to expand operations
- Egypt’s El Kheta receives $400,000 to revolutionize the online education sector
- Nigerian health-tech Blueroomcare raises pre-seed funds to improve mental health
- Saudi Arabian edutainment platform Jeel secures new seven-figure investment to expand operations
Saudi Arabia's Boston Oncology Arabia raised $35M in funds to expand operations
- Boston Oncology Arabia, a Saudi Arabia-based bio-generic medication manufacturing company, has closed a $35 million investment headed by TVM Capital.
- Boston Oncology Arabia, founded in 2005 by Abdullah Baaj, develops and manufactures globally licensed treatments locally to supply crucial medications for critical illnesses.
- With the new fund, the company plans to accelerate its transition to full formulation, fill, and finish manufacturing at its local production plant in Sudair Industrial City. TVM Capital Healthcare will also give strategic guidance and use its worldwide network to improve the company's access to foreign suppliers.
Egypt’s El Kheta receives $400,000 to revolutionize the online education sector
- Alexandria-based ed-tech startup ElKheta secured $400,000 in venture investment from EdVentures, an investment arm of Nahdet Misr Group and the first venture capital company specializing in the ed-tech sector in the Middle East.
- Founded in 2019 by Mohamed Mahmoud, El Kheta offers an educational platform that facilitates supplementary lessons to support Egyptian students with their studies through exercises, tests, interactive videos, and direct instructor communication.
- The company intends to use this financing to improve and extend the platform, empowering more students and transforming Egypt's online education market.
