Backed by Naguib Sawiris, the entrepreneur behind the Orascom group, Sawari will invest in early- and growth-stage technology companies in the Middle East, such as its first two deals, Alzwad Mobile Services and Vimov.
Category: Deals
MedSynergies treats Texas Health asset
Texas Health Resources, provided $25m to MedSynergies after acquiring MedicalEdge at the start of the month and spinning off the PhyServe division.
NuvoSun gains $3m energy boost
NuvoSun has topped up its finances with a further $3m from two undisclosed investors.
Tilera gains two new corporate backers
Computer equipment maker Cisco Systems and Samsung Venture Investment Company, the corporate venturing unit of South Korea-based electronics conglomerate Samsung, are the strategic investors in Tilera.
NTT stokes investment round for broadband
Net One Systems, Stoke’s distributor in Japan as a networking and systems integration provider, and phone operator NTT’s Docomo Capital corporate venturing unit reinvested in Stoke, a year after NTT started using its Stoke Session Exchange 3000 product.
Comcast enters Perfect Market
Comcast, which is posting David Horowitz on to the portfolio company’s board, is following media peer Tribune in backing Perfect Market after becoming a user of its services.
Sonian adds two corporate backers
Online retailer Amazon and technology company Webroot Software have joined as new investors a consortium providing $9m in the series B round for Sonian, a US-based email archiving company.
Steamboat sells Scrapblog
Steamboat invested in Scrapblog’s series A1 funding round in December 2007 but has sold company to Mixbook.
Rawabi-backed ECG invests in Neos
Bill Gates, the co-founder of software company Microsoft, has also invested in Neos GeoSolutions as a new investor alongside Energy Capital Group (ECG), a UK and Bahrain-based venture capital firm backed by the Rawabi, Al-Ansari, AA Turki and Al Muhaidib industrial groups.
T-Venture dunks Netbiscuits deal
T-Venture has joined Creathor Venture, a local venture capital firm and Netbiscuits’ first institutional backer, in the consortium providing money to help Netbiscuits expand into the US.
Rusnao fights off Chinese offer to back Plastic Logic
A consortium of investors led by the Russian state invests $700m in Plastic Logic as competition for innovative companies takes on geo-political overtures as countries try to emerge from the credit crunch or maintain economic growth rates.
Synthetic Genomics reaches $35m
Synthetic Genomics had in June made an initial close at $10m from one investor out of a targeted $50m but has now gathered $35m from six backers.
T-Venture plots GraphDB uses
T-Venture had originally provided seed money to Sones in 2009 and reinvested in its series A round.
Comcast catches SnagFilms round
A regulatory filing said the $10m round for SnagFilms closed in mid-December, while the Wall Street Journal said Comcast and NEA provided the money.