Cairo-Based Proptech Birdnest Secures Pre-Series A Funding
The funding round was led by Beltone Venture Capital and CI Venture Capital, and involves a 20% equity stake in Birdnest.
Birdnest, a proptech startup based in Cairo, Egypt, has closed a pre-Series A funding round to accelerate its growth and expand its market presence.
The funding round was led by Beltone Venture Capital, a subsidiary of Beltone Holding, and CI Venture Capital, a subsidiary of Citadel International Holdings from Abu Dhabi. Although the financial specifics were not disclosed, the investment involved a 20% equity stake in Birdnest, reflecting strong investor confidence in the company's vision.
"This partnership with Beltone Venture Capital, a venture capital firm with deep roots in investment banking, provides us with more than just capital. It equips us with the strategic financial infrastructure essential for our next phase of growth," Mostafa El-Nahawy, CO-CEO of Birdnest, tells StartupScene.
The company, known for its innovative approach to real estate investment and management, aims to maximize returns for investors and offer value to tenants. Birdnest utilizes advanced technology to streamline processes, making real estate investment more efficient and accessible.
"We are excited to support Birdnest and its leadership team to achieve their vision to lead and innovate the Real Estate sector in the MENA region,” Ali Mokhtar, CEO of Beltone Venture Capital, says. “Birdnest has demonstrated strong operational performance and with its ambitious expansion plans, it is well-positioned to become the leading Proptech company in the region."
The newly acquired funds will be used to enhance Birdnest's regional quality team, improve its proprietary technologies, and support aggressive marketing efforts to solidify its market position. Birdnest plans to expand its operations within Egypt and across key regional markets such as Athens, Dubai and Riyadh.
