Egyptian Biotech Nawah Scientific Raises $1M as Part of Series A Round
The funds have come via the Cairo Angels Syndicate Fund, who previously invested in Nawah in 2020 as an early-stage startup.
On the back of a January 2021’s $1 million raise, Egypt-based life sciences and biotech startup, Nawah Scientific, has secured additional funding from the Cairo Angels Syndicate Fund (CASF) as part of its ongoing Series A round. CASF previously invested in Nawah Scientific in 2020 as an early-stage startup and now is injecting additional capital to accelerate the startup’s growth and help onboard new projects.
Since its founding in 2015, Nawaf Scientific has quickly grown to become an integral part of Egypt’s pharmaceutical industry by offering streamlined access to high-quality research. The fully-integrated digital platform receives experiment requests, collects samples, conducts tests and returns results. In its six-year run, the startup has analysed more than 200,000 samples across 12 countries.
For CEO of CASF, Aly El Shalakany, Nawah Scientific represents the peak of home-grown innovation. “Dr Omar is a perfect example of what I call ‘brain regain’, a super talented and ambitious founder who, if truth be told, we would have lost in previous years to North America or Europe, were it not for the recent changes that have made it possible for entrepreneurs to succeed at home. Not only has Dr Omar built an amazing, globally competitive and impactful business, but he has created a virtuous cycle for top scientists from Egypt to also succeed at home. We are immensely proud that we can continue to support Nawah Scientific in its mission.”
While there hasn’t been full disclosure of how the new funds will be utitlised, the startup’s ambitious regional expansion plans are sure to be a priority.
