Egyptian life science startup Nawah Scientific has closed a second pre-series A round of US1 million in mixed equity and debt capital, raising its total funding to US$2 million.
This announcement comes shortly after Nawah has celebrated inaugurating its new hub of labs, which was described as “The biggest private multidisciplinary research hub in Egypt”, and almost a year after winning the 2nd position in the prestigious competition, Africa Business Heroes by Ali Baba’s founder, Jack Ma.
This investment comes primarily from Egypt Ventures, the Egyptian government-backed fund and one of Nawah’s early investors and board directors, who decided to double down on their initial investment.
This round is also joined by the newly launched Alexandria Fund (AF), in addition to Cairo Angels, Alex Angels, HULT Alumni Angels among several international Angels.
Founded in 2015 by Dr. Omar Sakr, Nawah is Egypt’s no.1 destination to outsource scientific services and research/analytical experiments. Nawah’s online platform receives experiments requests, a courier collects samples for analysis, Nawah’s scientists carry needed tests and return results online.
By this, Nawah enables scientists to do higher-quality research regardless of their location and owned lab facilities. Moreover, Nawah is now an integral part of the Pharma industry in Egypt with hundreds of samples flowing for analysis, routine check or formulations requiring improvement by Nawah pharmaceutical formulation team.
Nawah has analyzed over 50,000+ samples from 3000+ clients in 9 countries. Nawah played a significant role during COVID 19 pandemic in fighting poor-quality disinfectants, developing novel formulations for skin-friendly sanitizers and was awarded a 2M EGP grant (Close to US$125K) with other partners to develop new technology for COVID 19 testing, a project that is being carried out.
Nawah’s founder Dr Omar Sakr commented “Every day, I realize that Nawah’s potential is way beyond our initial imagination and that we are barely scratching the surface! 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”
Egypt ventures CEO Ahmed Gomaa commented on their decision to double down on Nawah “Egypt Ventures has a clear mandate to support exceptional Egyptian Startups bringing actual value to the Egyptian community. 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.”
Alexandria Fund (AF) General Partner Tarek El Kady has added that “We have closely witnessed Nawah’s 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 ventures fund.”