Egyptian startup Entlaqa, which develops SaaS-based products, raised USD 300 K from two Saudi Investors Salem ben Saleh Ba Wazier and Mohamed ben Saleh Ba Wazier. The transaction is in return for 30% equity of the company.
The startup that was founded five years back, currently hosts four types of products E-Detailing Platform, E-Learning Platform, Events Platform and Voting Application. The tech startup helps companies in solving their creative marketing and human resources challenges. Based in Cairo, the startup is founded by Ahmed Ashoor, who has worked with multinationals for developing solutions for their customers and employees, in the past.
The startup plans to use the funding money to develop more SaaS products and increase their client base across more countries. It aspires to be a venture builder by creating multiple tech products that can be customized and sold. They take inspiration from A15, another company based in Cairo who has been extensively investing in tech products and brands.
Entlaqa, claims to have worked on multiple solutions for pharmaceutical and real-estate industries, where they have successfully used technologies like web portals, mobile apps, augmented reality and virtual reality. They plan to expand by creating more products of this sort and directly make it available to a bigger audience through web portals. With a team of 20, they are also adding e-commerce product to their portfolio.
The MENA region has been pretty active from the onset of the second quarter. In the last 30 days, nine Egyptian startups have been funded with the funding value reaching north of USD 17 Mn. What remains fascinating is that the money entering the market is from the middle east and most of the expansion plans of the startups look towards other continents.