Tunisia's NewGen and MooMe receive investment from new Seed Fund
Tunisia-based NewGen, an indie game development studio and Agtech MooMe, a decision-making system for farmers, have raised funding from the newly-launched Maxula Seed Fund.
The fund which was created by asset management company Maxula Gestion, aims to support early-stage startups in the country with high growth potential across a variety of industries. Alongside this, startups who have innovation and technology at the heart of their business models, and are no longer than 8 years old will be targeted.
Raouf Aouadi, CEO of Maxula Seed Fund commented, “The Maxula Seed Fund was created by Maxula Gestion as part of synergy with our portfolio of investments. Our objective is to offer both financing to startups to develop their activity and new ideas to the companies which constitute our portfolio of participations in order to try to allow them to create new markets."
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The fund has raised capital from insurance company MAE and the Arab Tunisian Bank (ATB).
Mohamed Abdel Hakim Sraieb, Director of Studies, Strategic Investment and Investments at ATB said, “We believe that startups can be the future of our country. I am sure that Maxula Gestion will get us a unicorn from among these startups."
Mrs. Myriam Ben Abdennebi, Financial Director of MAE added, “We are very happy with our entry in the capital of the startups which have been selected by the Investment Committee, with the aim of helping them to develop in the future."
With the new investment, MooMe aims to create synergies with the company Nour Agricole specializing in the manufacture of cattle feed, in order to support thousands of cattle breeders and also help veterinarians to better manage their projects.
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