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Tuesday, 12 May 2020

Brimore raises USD 3.5 mn in pre-series A investment

STARTUP WATCH- Cairo-based social commerce platform Brimore has raised USD 3.5 mn in a pre-series A funding round led by Algebra Ventures, the company announced in a statement to Enterprise (pdf). Flat6Labs, Disruptech, Vision Ventures and 500 Startups also participated in the round. The investment comes a year after the company secured USD 800k in seed funding in a round led by Algebra and Endure Capital. Brimore is a social distribution network which allows manufacturers to sell fast moving consumer goods directly to customers. “Brimore is developing world-class technology for our local market which will open up tremendous untapped potential in distribution of goods,” said our friend Tarek Assaad, managing partner at Algebra.

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