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Wednesday, 8 June 2016

Instabug raises USD 1.7 mn seed round

Star Egyptian startup Instabug raised USD 1.7 mn in a seed round after completing Y Combinator’s winter program this year, Wamda’s Rachel Williamson wrote. Instabug is bug-tracking software that allows developers to trace bugs in their codes. “The round was led by US-headquartered Accel Venture Partners and included Mopub founder Jim Payne and Cloudera cofounder Amr Awadallah. Instabug has now raised a total of [USD 2.12 mn] from three rounds, with Egyptian angels and Y Combinator investing in 2013 and 2015 respectively.” Instabug also plans to grow its San Francisco office, according to Techcrunch. The company, founded by Moataz Soliman and Omar Gabr, rose to prominence after graduating from accelerator Flat6Labs’ third cycle in the summer of 2012.

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