Welcome to our daily funding update for MENA startups. This brief will cover the latest funding news and investments from the region’s vibrant startup ecosystem.
19th April 2023 Funding and Investment Update:
- Autochek, a Nigerian automotive technology company, has acquired a majority stake in Egypt’s AutoTager, an automotive technology company that helps people search for and buy cars. AutoTager, founded in 2021 by Amr Rizk, enables potential buyers to obtain inspected vehicles and finance them through fintech solutions easily. The acquisition will help Autochek expand its presence in North Africa and assist its continued growth in the region.
- CoaChess, a Tunisian startup, has raised $191K in a pre-seed funding round via Omicrone. CoaChems, founded in 2021 by Ehab Al Kaabi, provides several chess-related services employing artificial intelligence. The funds will be used to develop chess using artificial intelligence and tools to make it accessible to everyone.
That’s all for today’s funding update. Stay tuned for more updates on the MENA startup scene, and remember to subscribe to our newsletter or browse our archives for more news and analysis.
These funding updates were sourced from a press release and Wamda.com.
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