Egypt’s Birdnest, a prop-tech that specializes in power generation, has raised an undisclosed amount of pre-Series A funding to grow its market share in the home base of Egypt and in global ones.
Birdnest is a start-up established in 2020 by Mostafa El-Nahawy and Ahmed Fadda that uses features such as smart interior design and smart rental management to optimize revenue potential for landlords and value to occupants.
The startup has initiated external funding by raising pre-seed and pre-Series A funds from Beltone venture capital and CI venture capital. While the exact sum has remained anonymous, it is invested in exchange for a 20 percent stake in the company. The startup has also declared its intention of broadening its regional quality team as well as enhancing its technology, not forgetting the launching of vigorous marketing campaigns.
Their strategic approach can cause a massive boost in Birdnest’s business space in Egypt and propel the company to reach various promising markets such as Athens, Dubai, and Riyadh.
“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,” El-Nahawy said.
During the raising up round of Birdnest, Ali Mokhtar, the CEO of Beltone Venture Capital, expressed his readiness to help to accompany Birdnest and its management team to implement their planned strategy for the development of the real estate sector at the MENA level.
He said: “Birdnest has demonstrated strong operational performance, and with its ambitious expansion plans, it is well-positioned to become the leading prop-tech company in the region.”
