TemTem, a ride-hailing Startup based in Algeria has raised US$4 million in a Series A round.
The investment which is said to be the largest Series A round in the country was led by Tell Venture Automotive and other undisclosed investors.
“Today, TemTem has all cards in hand to become the market leader in the Algerian mobility sector. This new fundraising round confirms TemTem’s competitive position, the relevance of its strategy, and investor confidence in its strong growth potential. With this new capital, TemTem, will launch two new innovative services centred around improving the daily lives of Algerians,” the startup said in a statement to MENAbytes.
Founded last year by Kamel Haddar, TemTem offers ride-hailing services using different types of cars, and bikes to both individuals and businesses in Algiers, Oran, and Constantine. The company works with over 150 businesses.
To date, the company has raised a total of US$5.7 million; having raised US$1.7 million in seed funding last year.
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