Brimore raises pre-Series A in Algebra-led round

Image Credit: Brimore

Having led Brimore’s seed round twelve months ago, Algebra Ventures is back again, leading a group of existing and new investors in the Egyptian startup’s latest capital raise, a $3.5 million pre-Series A round. The other returning investors are 500 Startups and Flat6Labs, while Disruptech and Vision Ventures are entering the firm’s capital structure for the first time. A spokesperson for Brimore declined to disclose the valuation given to the startup for the round.

At $2 million, Algebra Ventures is providing the majority of the capital for the investment. Tarek Assaad, one of the Cairo-based venture firm’s three managing partners, led the deal. As yet, a formal board of directors has not been constituted although this is expected to be laid out when Brimore closes its Series A round which is planned to take place within the next twelve months.

To read this article, you must be a paid subscription member. (Current members login here)


Reserve your digital subscription today

Join now for $35 per month

Join now for $395 per year

for access to:

  • Weekly newsletter with original and curated news, analysis and perspective
  • Africa’s private capital deals, fund raises and the investment firms and executives involved
  • Portfolio company news that impacts value and stakeholder participation
  • Job moves and partnerships between leading market participants
  • Exclusive access to Africa Capital Digest’s full content archive

If you’d like more information on exceptional value group subscriptions for your colleagues and teams, please contact Teresa Hall at thall[at] today.