CardoO, The Egyptian based startup has managed to attract its seed investment round, which amounted to $660,000 dollars, led by The Alexandria Angels, with the participation from Sofico Investments, angel investors from Saudi Arabia, and the European Bank for Reconstruction and Development (EBRD).
“We are excited to continue our journey in providing electronic devices and the Internet of Things. We are pleased to have strategic investors such as Alexandria Angel Network, Sofico Investments, and angel investors from Saudi Arabia, noting the role of the Information Technology Industry Development Agency (ITIDA) in supporting us in attending entrepreneurship conferences, networking and outreach to investors and industry professionals, in addition to the support from European Bank for Reconstruction and Development (EBRD), in the provision of infrastructure services and advisory services,” Ahmed Adel, CEO and founder of CardoO, said.
CardoO CEO noted that this investment will allow his company to improve its products, introduce the first superior application in IoT, in addition to enabling local manufacturers to produce consumer electronics for the Internet of Things under the brand name “CardoO” and provide them with high-quality technologies to local markets to make Egypt an important hub for Consumer Electronics for the Internet of Things in emerging countries.
A Look At What The Startup Does
CardoO, founded in 2018 by Ahmed Adel, seeks to become the top Arab brand that provides customers with premium and price-effective smart products that enrich their everyday lives by putting the newest cheap consumer electronics and IoT devices in MENA consumers’ hands.
CardoO provides current items for online, direct, and channel sales in addition to retail sales. Smart Watch, Wireless AirPods, Mobile gaming joysticks, CardoO I Note tablet for writing and sketching, CardoO smart scale).
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Adel said that while some consumers feel that Internet of Things-supported consumer electronics are expensive, CardoO has signed several partnerships with local factories and international R&D centres to make their devices affordable for the middle class. With plans to expand in emerging countries, he indicated that the company had recently launched 9 new smart devices.
The CardoO App is the first “IoT” application in the region, allowing users to operate all smart “CardoO” goods and develop scenarios for device interoperability. He said the software is straightforward to use and works with Siri, Alexa, Google Assistant, and others for a smooth experience.
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The Egyptian startup CardoO recently signed a partnership with “Amazon” to offer its products through its platform, and it has a similar arrangement with other electronic selling sites, in addition to making deals with many institutions and consumer electronics distribution companies. CardoO seeks to build a brand and a robust business, to become the first startup in the Middle East and Africa, in developing and publishing e-books.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh