Egyptian advertising platform Adzily raises $12.2m funding round

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Egyptian indoor advertising platform Adzily has raised a US$12.2 million funding round to expand its network of digital display screens across Egypt and Saudi Arabia.

Founded in 2018, Adzily has built a network of over 200 digital advertising screens in cafes, restaurants and gyms, with advertisers able to purchase this space using a Google Ads-style online platform.

By combining traditional and digital advertising, it allows brands to access the audience they wish to target while also gaining insights.

After strong initial traction, Adzily has now raised US$12.2 million in funding from Al-Tharawat Private Investment Holding Company (Private Wealth Investments), a Saudi-based investment company, which chairman Ahmed Ashoor said will help it quickly expand its network of screens further across Egypt and into Saudi Arabia.

“We are planning to add 1,000 more screens in the next three months, with a goal of reaching 5,000 by the end of 2020,” he told Disrupt Africa.

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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