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Labelled as Egypt’s biggest life science venture, Nawah Scientific has secured a second pre-series A round of funding amounting to $1-million in mixed equity and debt capital.
Nawah Scientfic secures $1-million in funding
This additional funding brings Nawah Scientifc’s raised capital to $2-million. The investment was led by Egypt Ventures and several other investors including Alexandria Fund, Alex Angels, Hult Alumni Angels, Cairo Angels, and more.
In an official press statement, Ahmed Gomaa, Egypt ventures CEO explains why the venture capital firm invested in the life science venture.
“Egypt Ventures has a clear mandate to support exceptional Egyptian Startups bringing actual value to the Egyptian community. We have witnessed Nawah firsthand and we have seen how they deliver on their promise to empower scientific research in the entire MEA region and we are thrilled to be part of their journey as they scale their offerings and expand into new markets.”
Founded in 2015, the life science tech startup aims to empower scientific research and scientists in Egypt as it provides a range of advanced research equipment.
Its premium service offering is provided via an online platform making it both accessible and affordable. As a multidisciplinary research centre, Nawah Scientific offers services for both medical and natural science.
How does it work
Users are able to access the online platform and submit experiment requests. Once received, Nawah Scientific’s online platform processes the request and sends a courier to collect samples for analysis. When collected, the team of experienced scientists at Nawah Scientific conduct the requested tests and submit the results online back to the user.
The unique service allows scientists to conduct higher-quality research regardless of location or existing lab facilities, it essentially allows scientists to take their research to the next level.
The life science tech startup has reportedly analysed over 50 000 samples from over 3000 clients in nine countries since inception.
Nawah Scientific has played a pivotal role in combating the spread of the virus in Egypt as it reportedly developed novel formulations for skin-friendly sanitisers. The tech startup was awarded nearly $125 000 in grant funding to develop new technology for Covid-19 testing. This project is currently underway.
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Featured image: Nawah Scientifc team, Nawah Scientifc