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Wednesday, 4 November 2020

Smart meter startup Amjaad raises six figure USD investment from Dhaman Group

STARTUP WATCH- Egyptian smart meter startup Amjaad raised USD six-figure funding in a pre-Series A round from Bahrain-based Dhaman Group, Disrupt Africa reports. The company, which was founded in 2018, plans to use the funding to improve its bill payments platform and expand its consumer base. Applying smart metering services to gas and water utilities will also be on the group’s agenda with the new investment. Amjaad’s ioMeter platform allows users to remotely monitor and manage energy consumption through their web browser or mobile application and pay bills online. Dhaman wants to push Amjaad to grow its market share and impact within Egypt and begin cross-border expansion in the region, particularly the Gulf, said Dhaman CEO Mahmoud Al Hawary.

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