EGYPT – beXel, Egyptian cloud-based inspection management software, has raised a six-figure US dollar round of funding to expand to Saudi Arabia and other GCC countries.
Founded in early 2019 by Ayman Abou Regeila, Ahmed Hussein and Mahmoud Latif, beXel is a SaaS digital cloud-based inspection management software that focuses on industrial services such as energy, oil and gas, and construction industries.
“As the first cloud-based inspection management software in the MENA Region, we are proud to have built such a solution which is proven and used through worldwide clients,” said Ayman Abouregeila, co-founder and CEO of beXel.
“Our entire application can be easily customised to each buyer’s needs, addressing their entire operational cycle and covering their end-to-end challenges.
“We’re well-placed to scale to Saudi Arabia while expanding our team to support our customers on ground.”
The startup helps service providers in digitally transforming their entire end-to-end process, going paperless, practicing social distancing and dropping their team inspection time to more than 60 per cent, and has been widely used in 14 different countries.
Tarek Roushdy, managing partner of UI Investments, said he was glad to be a part of the beXel story.
“Joining beXel’s journey was an easy decision to take considering its strong team, the traction it made so far, its global exposure, its huge growth potential and finally being a startup that brings digitalisation to the oil & gas sector, which I belonged to,” he said.
It is now planning concerted expansion to Saudi Arabia and other GCC countries after raising a six-figure US dollar rounds of funding, led by JH Investments and featuring follow-on funding from Flat6Labs, UI Investments and Saudi angel investors.
beXel graduated from the Flat6Labs Egypt accelerator back in 2019 and managing partner Marie Therese Fam said her company had been a “true believer” in beXel’s team and product from day one.
“The solution beXel is offering to multiple global industries is unique and offers scalability and efficiency metrics not previously attainable,” she said.
“We are very proud of the team’s achievements to date, particularly the trust they’ve built with global clients and we are confident that this is only the start. We look forward to the product’s scalability and enhancement and we are confident that beXel will continue to dominate the equipment inspection industry for years to come.”
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