UK-listed mobile phone operator Vodafone has backed three Egypt-based start-ups from local incubator Flat6Labs.
The three incubees now funded by Vodafone Ventures Egypt are: online supermarket Estery; taxi booking service Ogra and television applications developer GyroLabs.
Mohammed AlAyouti, senior business development manager at Vodafone Egypt, said the investments were an extension of a mission launched by Vodafone’s own accelerator, Xone, which was founded in the US last year before expanding to Italy and soon into the UK.
Hatem Dowidar, chief executive (CEO) of Vodafone Egypt, told a news provider that his company’s investment unit would allocate 50% of its investments into data transmission service start-ups and entrepreneurs.
Ramez Mohamed, Flat6Labs’ CEO, added: “These are very strategic investments for these companies.
“Ogra will be able to use leverage Vodafone’s call centres as well as use their infrastructure when it comes to sending SMS. For Eshtery, having a telecom company as a backer will help with their payment solutions and distribution. Vodafone also previously launched a digital TV product called Webbox, so they will be able to help GyroLabs bridge the gap between TV and mobile.”