Biware Raises $1.2 Million in Seed Funding

Biware Raises $1.2 Million in Seed Funding

Biware, a Tunisian consulting, software integration, and publishing firm specializing in data management and analysis, has raised its first round of funding with CDC Gestion and Zitouna Capital, totaling $1.2 million (3.5 million dinars).

With this new funding, Biware aims to have a hundred African and European engineers and to open new branches by 2025.

This fundraising represents a significant step forward for the company, which has been operating on the African and European markets for 11 years, allowing it to carry out its strategic development plan (2021–2006), which is supported and financed by the EBRD in collaboration with the firm PROQUAL.

Biware was founded in 2011. It is a technology firm with thirty engineers whose objective is to assist businesses in extracting value from their data reservoirs for strategic purposes, such as increasing revenues, lowering costs, and reducing losses. Through its technology, it responds to business concerns and helps its clients make decisions surrounding customer knowledge and targeting, fraud detection and management, and demand forecasting.

On the African and European markets, Biware has a portfolio of around fifty corporate clients in the finance, telecommunications, retail, service, and energy sectors. In the beginning, telecommunications operators were the startup’s main clients, the highly competitive industry requires extensive information on consumer behavior to increasing revenues, and retain its audience. From 2016, the company began serving the African banking and energy sectors.

To fulfill the rising needs of the SMEs, Biware began investing substantially in product development and digital accelerators around the analytical core in verticalized areas such as finance and human resource management in 2018.

Biware believes that in order to gain competitive advantage, businesses must fundamentally restructure their operations by automating and gradually integrating artificial intelligence into internal and external processes.

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