Egyptian fitness startup ElCoach raises seed investment

Egyptian fitness startup ElCoach has raised an undisclosed six-figure dollar amount in seed funding.

In an article yesterday by tech publication MenaBytes, the startup did not disclose the exact amount.

The publication said the investment came from Egypt’s Endure Capital, 500 Startups via its 500 Falcons fund, Wise Capital and a number of angel investors based in Egypt.

The startup — which was founded in 2018 by fitness expert Assem Emam with Saher Hassan and Muhammad Hazem — has developed a fitness and nutrition app which offers tailored fitness programmes based on individual user’s needs.

Egyptian fitness startup ElCoach has developed a fitness and nutrition app

While the startup generates a revenue through subscriptions that cost less than $20 a month, MenaBytes said that with the onset of the coronavirus the founders are currently offering the paid plan for free for a month.

The publication reported that ElCoach’s apps have over 350,000 downloads, while the startup has a “considerable number” of paying subscribers, adding that the startup did not want to disclose the exact number of subscribers.

The startup will use the investment to expand its team and cover marketing costs, focus on the Saudi market.

According to figures from Crunchbase, the startup has previously raised $70 000 in two rounds since its inception in 2018.

Featured image: ElCoach CEO and co-founder Assem Eman (LinkedIn)