FabricAID Closes Its Seed Round at 1.6 Million US

FabricAID announces today the finalization of its 1.6 million USD seed funding round through investments by Wamda and Alfanar. FabricAID has raised a total of 2.1 million USD since its inception, and has multiplied sales in 2021 by a factor of five, resulting in over 70,000 beneficiary consumers served to date. 

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ZOOM IN: Wave, Smart Bicycle

Wave offers the smart bicycle as a solution to problems like pollution, congestion and lack of exercise to people living in cities all around the MENA region. The startup has a subscription-based model following the successful Northwestern European model. However, it has tailormade its app, bike, and service to suit the culture, environment and climate of the region.  

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ZOOM IN: LVPx, Upcycling & Customized Embroidery

LVPx is an upcycling and embroidery service where clients can send their clothes or home-wear and get them uniquely hand-embroidered by female artisans living in Beirut. Clients can customize colors and placements before the items are returned to them beautifully packaged and uniquely revived.  

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Yala Stop: Convenience, In-store & Online

Yala Stop has recently launched the first version of its online shopping application allowing users to order their groceries on the platform, providing instant delivery or pickup from the 35 different physical stores spread across Lebanon. 

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ZOOM IN: NanoEbers, Highly Effective Hemostatic Sponges

NanoEbers is an Egyptian startup that has developed highly effective hemostatic sponges that have superior mechanical properties and can absorb up to 60 times their weight of blood and can stop bleeding instantly. Their performance exceeds that of imported hemostatic sponge while NanoEbers is producing the sponges at a low production cost due to lower local manufacturing and a patent-pending manufacturing process.

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