The Series A equity round was led by Africa50, a pan-African infrastructure investment fund, marking a major milestone as the largest investment by an African fund in an electric mobility company.
This latest cohort of startups joins a growing number of Algerian businesses that have benefited from the government’s initiative to connect local entrepreneurs with global tech giants and renowned universities.
VNV Global notes that if Breadfast continues on its current path, the company’s growth could become a significant driver for the investor’s entire portfolio.
The acquisition of Traction will allow OmniRetail to integrate its merchant POS services into OmniPay, creating a more comprehensive platform for SMEs.
Naguib Sawiris's battery-swapping group has built the largest network of its kind in the Middle East and North Africa. Whether each cabinet earns back the batteries it cycles is a question it has not answered.
