Friday September 29th, 2023
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Tunisian Data Management Startup Biware Raises First Round of $1.2M

Led by CDC Gestion and Zitouna Capital, the investment marks the startup's first funding round

Startup Scene

Tunisia-based data management and analysis startup, Biware, has secured its first fundraising round, a $1.2 million investment from CDC Gestion and Zitouna Capital.

Biware is a technological SMB which supports companies in using their data for strategic purposes, including increasing revenues, optimizing costs and reducing losses. The company offers verticalized solutions with  SAS  and  Microsoft Technologies to assist customers in customer knowledge and targeting, fraud detection and management, and demand forecasting. In 2018, they began investments in the development of digital products and accelerators, such as finance and human capital management, to meet the demands of SMEs.

This fundraising symbolises an important milestone for the 11-year-old company, allowing it to realise its 2021-2026 strategic development plan that is supported and financed by the EBRD, in partnership with PROQUAL. This plan tackles their commercial and operational development, as well as their analytics and artificial intelligence software development. Through this fundraising, Biware hopes to grow their team from 30 engineers currently to 100 engineers and three African and European branches by 2025.