Flat6Labs, an accelerator and venture capital firm, presented a demo day in Cairo for its 18th and 19th cycle startups.
Flat6Labs, founded in 2011 and located in Cairo, is the MENA region’s premier seed and early-stage venture capital firm, investing in more than 100 innovative and technology-driven firms each year.
The company has many offices throughout the region, with intentions to expand into more emerging markets in the future.
It staged a demo day at the Great Egyptian Museum in Cairo last week, introducing 12 growth-driven software businesses from the Flat6Labs Seed Programme in Cairo. The portfolio firms presented their unique goods and solutions to an audience of 500 people, including Egyptian and regional investors.
Delivery platform FilTareeq, food-focused multimedia firm HUMM, healthy food marketplace WellPal, transportation service Seater, money app Copal, and recruiting solutions TechieMatter and BabRizk were among the 12 startups that showed.
The others were BaytMisr, a mortgage financing platform, Fuelin, a fleet management solution, Agel, a sharia-compliant financial platform, AI writer Katteb, and Melior, a patient engagement program.
This demo day event represented the culmination of the Flat6Labs Accelerator Company (FAC) Fund’s five-year investment term in Egypt, during which Flat6Labs successfully invested EGP152 million (US$5 million) in seed and follow-on investing in 91 firms.
“I’m proud to say that Flat6Labs has played a pivotal role in stimulating the Egyptian economy through the investments we’ve made over the past 5 years, supporting more than 200 entrepreneurs in 16 different industries, creating over 81,500 indirect jobs and over 1,700 direct jobs, 31 per cent of which are held by women. We look forward to continuing to support our 91 innovative portfolio startups, being part of their growth journey, and making an even bigger impact across Africa and the region,” said Flat6Labs’ CIO, Dina el-Shenoufy.