This Egyptian AgTech Startup Just Snagged an Investment From HIMangel

Bermoda, a social startup based in the Upper Egyptian City of Qena, just raised a seed investment from Khaled Ismail's HIMangel; which did not reveal the size of investment but hinted it to be a six figure amount in US dollars, according to MENA Bytes. “We strongly believe in the potential of waste management sector in Egypt, especially when it comes to recycling the 30 million tons of agricultural waste produced annually," says Ismail.

Bermoda is a social startup based in the Upper Egyptian city of Qena, and founded in January 2016. The startup converts agricultural waste into high-quality, eco-friendly organic fertilisers by applying aerobic composting of agri-waste using bacteria with the purpose of adding nitrates and phosphorus and providing ideal conditions for the process of decomposition.

Ismail explains that he invests using the triple PPP conceptual strategy; people, planet profits. "The startup should be able to generate profits to ensure business sustainability, create jobs to serve people and finally positively impacting the planet," he tells Startup Scene.

With the unidentified investment, Bermoda plans to develop new products, employ more people into the team, utilize higher quantities of agricultural waste, boost the production and enter in turn new markets. "For us, this is just the beginning as the company has some big plans for the future of biofertilizers industry in the country and beyond,” says Mostafa Elnaby, co-founder and CEO of Bermoda.

Main Image: Founders of Bermoda from an episode on Hona El-Assema TV Show.