Elsewedy Electric, the Cairo-based multinational cable and electrical equipment manufacturer controlled by the Egyptian billionaire El-Sewedy family, has joined a 23 million Series A funding round for Nawah Scientific, an Egyptian life sciences and testing company expanding across Africa, the Middle East and Europe.
The round combines equity and debt and was led by Life Ventures Holding, with participation from Den Ventures, Empire M, AfricInvest and Elsewedy Electric. Banks and angel investors also took part, according to the company.
The funding coincides with Nawahs 10th anniversary and supports its regional expansion. The company plans a 10,000-square-meter research and development center in Rwanda, expanded laboratory capacity in Egypt and Saudi Arabia, and growth across North Africa and Europe to serve industrial, pharmaceutical and research clients.
