by ORA Technologies, a leading Moroccan tech company, has successfully raised $1.9M in pre-series A funding. This investment was led by prominent local investors Witamax and Azur Innovation Fund.
The funding marks a significant milestone for ORA, as it represents the company’s first venture capital investment. With $1.9M in pre-series A funding, the company plans to accelerate product development and scale its operations.
Expanding Digital Services
Founded in 2018, ORA Technologies specializes in creating cutting-edge software solutions for businesses. With the $1.9M in pre-series A funding, ORA Technologies aims to accelerate the expansion of its digital services. Key areas of focus include enhancing its ORA Cash digital payment platform and Kooul, a rapidly growing food delivery service.
Kooul has expanded to six cities in just five months, offering affordable food delivery options with fair rider compensation and lower commission rates for restaurants. These solutions have already gained traction in Morocco and neighboring countries. The $1.9M in pre-series A funding will help the company tap into new markets and enhance its offerings.
The company plans to hire top talent in software engineering, data science, and customer support. This move will ensure the delivery of high-quality products and services.
North Africa’s tech ecosystem is rapidly growing, and ORA Technologies is at the forefront of this transformation. The $1.9M in pre-series A funding brings ORA Technologies’ total funding to $4.4 million since its inception in 2023. This investment underscores the growing interest in Moroccan startups and the potential for digital innovation in the region. ORA Technologies is positioning itself as a leader in Morocco’s digital economy, leveraging the country’s solid infrastructure and large consumer market.
Future Prospects
With $1.9M in pre-series A funding secured, ORA Technologies is poised for exponential growth. The company is set to launch new products and expand its customer base in the coming months. This investment not only boosts ORA Technologies but also highlights Morocco’s growing influence in the global tech scene.
As ORA Technologies continues to innovate, the $1.9M in pre-series A funding will serve as a catalyst for its ambitious plans. The company is committed to empowering businesses with advanced technologies, paving the way for a brighter digital future in North Africa.
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