Egyptian conglomerate Raya Holding has made its first investment through Raya Ventures, backing UK-based artificial intelligence startup Pidima as it targets early-stage technology businesses to expand across the Middle East and Africa.
The fund targets startups from pre-seed to Series A, focusing on artificial intelligence and financial technology. It has not disclosed its total capital.
Pidima develops AI-powered enterprise workflows and product lifecycle management software. Raya Ventures said the investment aligns with its focus on technology businesses whose products can expand into regional markets.
The investment gives Pidima access to the backing of groups whose portfolio spans information technology, data centers, electronic payments, and financial services, providing industry connections as the startup pursues growth across regional markets.
For founders building AI and fintech startups across Africa, Raya Ventures introduces another source of early-stage capital, with investments targeting pre-seed to Series A businesses.
