Two Tunisian tech startups have secured investment from the newly-launched Maxula Seed Fund, which aims to support innovative, early-stage Tunisian startups with high growth potential across a range of impactful sectors.
Created by asset management company Maxula Gestion, the fund has raised capital from insurance company MAE and the Arab Tunisian Bank (ATB), and wants to back companies with innovation at the heart of their business models.
“The Maxula Seed Fund was created by Maxula Gestion as part of a synergy with our portfolio of investments. Our objective is to offer both financing to startups to develop their activity and new ideas to the companies which constitute our portfolio of participations in order to try to allow them to create new markets,” said Raouf Aouadi, the chief executive officer (CEO) of Maxula Seed Fund.
The fund announced its first two investments this month. They are in NewGen, a gaming startup founded in May 2019 by Seifeddine Ben Hamouda, and agri-tech startup MooMe, a decision-making system for farmers.