Egyptian Deeptech and Microelectronics Specialist Si-Ware Systems Raises $9 Million Investment
Already serving clients in North America, Europe, Asia and MENA, the company is inching closer to its goal of becoming the first deeptech unicorn in the region.
Cairo-based microelectronics specialist, Si-Ware Systems, has announced that it has raised an investment of nearly $9 million. Led by Sawari Ventures and with major participation from Egypt Ventures, this latest funding round raises Si-Ware Systems' total funding since launching in 2004 to $19 million.
The announcement comes as a landmark moment for the region’s deeptech sector, which has historically attracted very few investors. “We aspire to become a success story in this field and can eventually inspire others in the region,” co-founder, Bassan Saadany, told Zawya in an interview, with co-founder and CEO, Hesham Haddara, adding: “My life mission has been to develop the electronics industry in Egypt. We have come a long way, but we are still facing many challenges. Deeptech needs more VC funding and better legislation to facilitate operations and logistics.”
Lofty ambitions indeed, but as a self-proclaimed fabless semiconductor company aiming to foster silicon innovation, they believe that their innovative NeoSpectra Sensing Solutions can achieve it. The low-cost spectral sensors and scanners can be used in a wide variety of material sensing applications and is so small that it can only be seen via an electronic microscope. The device circumvents the challenges of traditional large lab-based spectrometers, so the sample needn’t go to the lab - the lab comes to the sample.
The device can and has been customised to suit the needs of various sectors, including food production, quality control in manufacturing and precision agriculture. The company currently serves clients in Saudi Arabia, North America, Europe Australia, India and Japan.
Learn more about Si-Ware Systems here.
