AUC Angels invest in dental 3D printer manufacturer, Mogassam, and furniture startup, Furnwish.

AUC Angels invest in dental 3D printer manufacturer, Mogassam, and furniture startup, Furnwish.

Investment network, AUC Angels has made undisclosed investments in dental 3D printer manufacturer, Mogassam and AR furniture startup, Furnwish.

The investment network led a pre-seed round for Mogassam and participated in the seed round for Furnwish.

Mogassam is a B2B platform that designs, manufactures, and markets digital light processing (DLP) 3D printers, currently used for dental equipment.

The platform digitizes the workflow for dentists enabling them to print their own crowns, aligners, and Hollywood Smiles based on their patient’s imprint.

On the other hand, Furnwish which was founded in 2017 is an augmented reality (AR) application that helps furniture stores and design professionals to better showcase their products and services.

AUC Angels Manager, Mariam Kamel said, “At the core, it is about supporting the startup scene and filling a gap that existed in the market for providing seed funding to early-stage startups. There is a lot of talent within our community that is not only looking for access to investment opportunities but can also mentor many of the early entrepreneurs.”

The network has been supportive when it comes to the entrepreneurial ecosystem especially in these times when the COVID-19 pandemic has affected most businesses.

Endowed Chair of Entrepreneurship at AUC and Founding Director of AUC Angels, Ayman Ismail, Abdul Latif Jameel stated, “Recessions are painful, especially for startups. However, they also create opportunities for disruption and waves of innovation that are often captured by startups. Investing in startups that have the potential to capture these opportunities has often proved to be very profitable.”

Ismail further said, “The network provides a platform for angel investors to access some of the most resilient and innovative startups in Egypt and to participate in their growth stories, as they navigate these turbulent times.”

American University in Cairo (AUC) Angels is the first university-based investment network in the Middle East. Since it was launched in 2019, it has attracted 60 investors. AUC Angles give startups with business and finance skills that help them to develop attractive investment cases.