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Algiers-based ride hailing startup TemTem has raised a $4-million Series A round from Luxembourg-based Tell Venture Automotive and other unnamed investors.
Tech publication MenaBytes reported in an article yesterday (25 September) that TemTem will use the investment to diversify its products, scale up its marketing and recruit more staff. In addition, the startup also intends to launch two new services before the end of the year.
TemTem was founded in 2014 by CEO Kamel Haddar
TemTem operations director Liès Mollard told Ventureburn the deal was concluded earlier this month.
Mollard said TemTem currently operates in Algiers, Oran, Constantine and Tizi Ouzou with plans to expand to Annaba, Setif and Bejaia soon. This while the startup is looking to expand across Northern and Western Africa within the next two years.
TemTem, which reportedly employs 40 people and has more than 4000 drivers, recently launched a delivery service.
Business intelligence platform Crunchbase estimates that this latest investment brings the total disclosed funding the startup has raised since launch to $5.7-million. This after TemTem raised a $1.7-million seed round last year.
Editor’s note (7 October 2019): The article has been updated to include comments from TemTem founder operations director Liès Mollard on when the deal was concluded as well as TemTem’s expansion plans.
Featured image: TemTem founder CEO Kamel Haddar (CACI France via Twitter)