Cairo-based SaaS startup for garment factories, Garment IO, has closed $450,000 in seed funding from Egypt Ventures and 500 Startups (Falcons).
Founded in 2017 by Ahmed Nounou and Mahmoud Sabae, Garment IO is a plug and play Garment Manufacturing Management Solution combining software and hardware to give garment factory managers and owners a complete overview on production processes, worker performance and production cost calculation.
According to Ahmed Nounou, the co-founder and CEO of Garment IO, “the funds will help us grow our footprint in Egypt, expand the tech team and strengthen our operations (deployment and customer support)”. Ahmed says that company has plans to expand their product to Jordan, Tunisia, Morocco, and Turkey in the near future
Garment IO currently has over 2,000 smart terminals installed in factories in Egypt.
Heba Ali, Managing Director of Egypt Ventures, said, “We’re very excited to invest in Garment IO as it is offering the opportunity to improve the productivity and efficiency across the value-chain of an industry that holds fantastic promise in Egypt. We’re looking forward to working with Ahmed and Mahmoud as they move into the next phase of their growth plan.”
Sharif El-Badawi, Managing Partner, 500 Startups (500 Falcons), said, “With IoT technology booming with a wide range of applications, Garment IO is revolutionizing the value chain of the garment manufacturing industry. We are delighted to partner with the team and witness Garment IO scale to greater heights in the manufacturing space.”
