Raed Ventures, Nclude lead the way for Grinta $8mn seed round

Raed Ventures and Nclude have led a USD 8mn investment in Grinta, a B2B Egyptian marketplace. Other investors are Endeavor Catalyst and 500 Global. The platform will use the funds for technology investments, to grow its team and to expand across Egypt.

This brings the total amount raised to USD 9.5mn.

A $6bn market

The platform is digitising Africa’s largest pharmaceutical market, Egypt, which according to the company is more than $6bn in size. It is doing so by rationalising Egypt’s local manufacturers, three large distributors and more than 3,000 wholesalers who are all targeting a further 60,000 fragmented retail pharmacies, which are not yet digitised.

We are very excited to have the right investor base as our backers that share the same values and vision of making Pharma accessible and affordable across Africa. As we plan to expand our footprint in the main Pharma hubs on the continent, we will also enable Egyptian and regional Pharma manufacturers to further penetrate the $50 billion African market.

MOHAMED AZAB, CO-FOUNDER & CEO

Grinta was founded in 2021 by Mohamed Azab, Yosra Badr, Ali Youssef and Hamza Mohamed.

Moroccan edtech SmartProf raises $110,000 for expansion


Edtech SmartProf has raised USD $110,000, of which USD 50,000 was raised in July, from UM6P Ventures, Plug and Play and angel investors.

Proceeds from the pre-seed round will be used to expand in Morocco and West Africa, as well as add to its team of developers.

Founded in 2021 by Hamza and Mustapha Faiz and Ali Faouiz, the edtech plans to be a one-stop-shop for edtech. It is responding to growing demand for private tutoring in a market that is both fragmented and opaque.