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Venture Capital
istitmarinvest.com

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Investments

2

About Istitmar Invest

Istitmar Invest is a Moroccan Based Venture Capital Company created in 2005. Its field of expertise covers the Pharmaceutical, the Technology and the Real Estate industries. Istitmar's mission is to spur innovation and inspire the entrepreneurial spirit in support of Istitmar Invest's vision of creating and extending. Access to its engineering, manufacturing and strategic expertise helps our portfolio companies expand quickly, while the credibility building and international awareness of its global brand augment staying power. Istitmar delivers direct introductions to decision makers and influencers that sustain business growth with purchasing power. These are the Istitmar lnvest advantages that build success.

Istitmar Invest Headquarter Location

31 Rue Ahmed Charci Casablanca-Anfa

Grand Casablanca,

Morocco

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Latest Istitmar Invest News

PE HUB » Cloudswave Raises $500K From Istitmar Invest

May 28, 2013

May 28, 2013    2 Views    0 Comments Cloudswave.com said it raised $500,000 from Istitmar Invest to develop its software as a services marketplace. PRESS RELEASE 10 Mai 2013 – Casablanca, Morocco –The Services as a Software marketplace, cloudswave.com, announced today that it has received $500,000 in funding from Morocco’s leading Web consortium and angel investors. Cloudswave (http://www.cloudswave.com/) announced today that it has received $500,000 in funding from Istitmar Invest, a moroccan Pharmaceutics  and Technology leader, to further develop its marketplace. The managers at Istitmar Invest had previously backed two growing African startups, mubawab.com (real estate portal) and Ad4game.com (a worldwide games and entertainement affiliate network). They decided it was time they added an online marketplace to their portfolio. Cloudswave CEO Reda Sedrati, comments: “We’re delighted to have the backing of such esteemed investors. It gives credibility to companies such as ours that operate in developed countries with Africa based backoffices. Africa has a lot to contribute to the internet economy, and our team is totally committed to prove this point.” Discover, compare, Save… Cloudswave helps SMB owners and Entrepreneurs find the right online services for their needs, and strives to bring them unbeatable prices and exclusive deals on carefully selected online services. Reflecting positive take-up by its target audience, the company also announced it is now serving 100,000 visitors per month with more than 2 000 products and 50 deals featured on the platform– after just 6 months of operations. “Going after the international market while operating from Morocco is not the easiest thing to do, but we have managed to build a qualified and dedicated team to develop the project. We also benefit from much lower operational costs” says Reda Sedrati. ABOUT CLOUDSWAVE Cloudswave helps SMB’s owners and Entrepreneurs find the right online service for their business needs, and strives to bring them unbeatable prices and exclusive deals on carefully selected online services. Cloudswave can be used as a general directory that guides them among a rich and more competitive web application offer, with detailed descriptions, videos, screenshots and a comparator allowing them to study product features. PRESS CONTACT Reda Sedrati | CEO: [email protected] Leave a Reply

Istitmar Invest Investments

2 Investments

Istitmar Invest has made 2 investments. Their latest investment was in Cloudswave as part of their Seed VC on May 5, 2013.

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Istitmar Invest Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/28/2013

Seed VC

Cloudswave

$0.5M

Yes

Undisclosed Angel Investors

1

Other Investors

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0

Date

5/28/2013

Round

Seed VC

Other Investors

Company

Cloudswave

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Amount

$0.5M

New?

Yes

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Co-Investors

Undisclosed Angel Investors

Sources

1

0

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