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Delemar to invest EGP 750m in a new factory in Sadat City

by WAYA Staff - Mar 20, 2022
Delemar to invest EGP 750m in a new factory in Sadat City

Delemar for Aluminum is to investing EGP 750 million in a new factory in Sadat City. The building of the factory will take three years to complete.

The company had recently announced that it has built an architectural glass factory, Delemar for Processed Glass (DPG), in the Sixth of October industrial zone with an annual production capacity of 600k sqm. Delemar also plans to invest up to EGP 600 million in the factory and double or triple its capacity by next year.

Delemar plans to double its investments over the next five years, Delemar’s CEO said in a statement. The company also plans to ramp up exports to 40% this year.

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Lucky raises $25m in a Series A round

by WAYA Staff - Mar 20, 2022
Lucky raises $25m in a Series A round

Lucky, app for credit products, offers and cashback rewards, raises $25m in a series A round. The funding round was led by Nclude by Global Ventures, a new Fintech fund recently announced by its lead investors Banque Misr, National Bank...

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UAE’s Eikonikos raises $2m in a pre-seed round

by WAYA Staff - Mar 17, 2022
UAE’s Eikonikos raises $2m in a pre-seed round

Eikonikos, an open-world metaverse startup, raised $2 million in pre-seed funding by angel investors. Eikonikos envisions to create an open metaverse platform that is owned by Web3 followers, developers, and a growing community of players. Nearly a dozen investors, including...

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Cofe acquires Saudi’s Kaffeen

by WAYA Staff - Mar 17, 2022
Cofe acquires Saudi’s Kaffeen

COFE App, UAE-based online coffee marketplace, acquired Saudi app Kaffeen in a move to consolidate its presence across the region. Kaffeen was founded in 2018 by Hassan and Hashem Aljawad in Saudi Arabia, and allows users to order coffee online and pick it up...

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Swvl commits $15m in Argentina expansion

by WAYA Staff - Mar 17, 2022
Swvl commits $15m in Argentina expansion

Swvl, a global provider of transformative tech-enabled mass transit solutions, announced that it will make an initial $15 million investment in Argentina. The investment will be used to generate jobs and self-employment opportunities over the next three plus years and further develop...

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Shatablee signs a new partnership with Contact Financial Holding

by WAYA Staff - Mar 17, 2022
Shatablee signs a new partnership with Contact Financial Holding

Shatablee, a digital interior design & build platform tackling the diverse finishing problems in the Egyptian Market, signed a partnership agreement with Contact Financial Holdings. The partnership will help Shatablee achieve its vision and expansion plans in the Egyptian real...

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Welnes raises $300k in a Seed round

by WAYA Staff - Mar 16, 2022
Welnes raises $300k in a Seed round

Welnes raised $300,000 in seed round led by Flat6labs, with participation from Samurai Incubate, UI Investments and a group of angel investors.  Welnes is a community app that helps users reach their weight-loss and lifestyle goals under the guidance of...

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