Biware, the popular data management startup from Tunisia has announced that they’ve successfully managed to raise about $1.2M from CDC Gestion and Zitouna Capital.
Biware works by providing technological SMB that supports other companies to use their data for strategic purposes and that’s not all. The purposes include increasing revenues, reducing losses, and decreasing costs. The startup also provides verticalized solutions with Microsoft Technologies and SAS to assist customers in customer knowledge and targeting, fraud detection and management, and demand forecasting.
Biware started its investment in the development of digital products and accelerators in 2018. Ever since then, they’ve focused on finance and human capital management to meet the demands of SMEs.
This particular fund has symbolism of an important milestone for this 11-year-old company and it’s allowing the company to realize its 2021-2026 strategic development plan that is supported and financed by the EBRD with a partnership with PROQUAL. And this strategy is for tackling their commercial and operational development as well as their AI and analytical software development. And using this fund, Biware has a plan to expand their team from 30 engineers to 100 engineers and with three African and European branches by 2025.