Egypt’s Amjaad secures 6-figure funding in ongoing Pre-Series A round

Featured image: Hussein Ahmed, Founder & CEO of Amjaad


Cairo, Egypt-based Amjaad, a tech startup has raised six-figure investment in its Pre-Series A round from Dhaman Group. The company provides electricity, compounds, and mall with access to smart metering solutions to help them monitor electricity, export accurate bills (post and prepaid), and manage energy consumption.

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Founded in 2018 by Hussein Darwish, Amjaad initiated its operations with the launch of its ‘ioMeter’ system, an online platform and mobile app for energy management and consumption monitoring purposes. Users can also the mobile app to pay their bills in an easy and safe manner (via Visa and Fawry).

Speaking of the development for Amjaad, Eng. Hussein Darwish, Founder & CEO of Amjaad, in a statement said,

“The market today is rapidly accelerating towards digital transformation and IoT has become the backbone of many systems around the world. Amjaad is a leading company in this field with a great vision to impact more than 10M people by 2025 through our smart metering solutions and other IoT systems. This vision leads us to provide the best services to our clients to make their life easy and happy. So we want to thank the trust given to us by our investors, customers, and great Amjaad team.”

Dr. Mahmoud Al Hawary, CEO of Dhaman Group added,

“Amjaad Company is one of the promising companies in the field of energy management solutions. One of my goals of investing in Amjaad is to increase the company market share and impact inside Egypt and to open new horizons and markets outside Egypt, especially the Gulf region.”

Amjaad in a statement said that the fresh funds will be utilised to add more features and payment facilities to the ioMeter system, add water and gas meters, spread further in compounds and malls in Egypt, as well as study the penetration of other Arab countries, and start exporting to these potential countries.

Wajiha Wahab
Wajiha Wahab

Part of the editorial team at LAFFAZ, Delhiite by birth, Wajiha possesses a keen interest in reading about startups, accumulating information and presenting the same to the audience impressively.
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