EGYPT – Amjaad Technology, a smart metre and internet of things (IoT) startup, has raised a six-figure funding round from Bahrain-based Dhaman company as part of an ongoing pre-Series A round.
Founded in September by Hussein Darwish, Amjaad uses metering technology to help service providers of electricity at various utilities manage their energy consumption.
“The market today is rapidly accelerating towards digital transformation and IoT has become the backbone of many systems around the world. Amjaad is a leading company in this field with a great vision to impact more than 10 million people by 2025 through our smart metering solutions and other IoT systems,” said Hussein Darwish, founder and CEO of Amjaad.
The company plans to use the funds to add more features and payment facilities to the ioMeter system, add water and gas metres, and grow its presence in Egypt with the possibility of expanding into other Arab markets.
“The market today is rapidly accelerating towards digital transformation and IoT has become the backbone of many systems around the world.”
Hussein Darwish – Founder and CEO, Amjaad
“Amjaad Company is one of the promising companies in the field of energy management solutions. One of my goals of investing in Amjaad is to increase the company market share and impact inside Egypt and to open new horizons and markets outside Egypt, especially the Gulf region,” said Mahmoud Al Hawary, CEO of Dhaman Group.
The platform also enables its users to pay their electricity bills online.
“We want to make real impact in our world, make life happier and smarter. So, we have devoted our experience and innovative technology to satisfy our clients’ needs through integrated reliable solutions. In Amjaad we’ve a big dream and professional team works on it.”
Amjaad is an innovative and leading technology company dedicated to the smart use of energy it offers communication solutions to monitor energy consumption through providing smart meters and one platform for different types of meters.
Amjaad offers one of the broadest, most affordable and accurate energy smart metering system in the market today. They develop our solutions through continuous innovation, transform complex cutting-edge technologies into affordable, reliable solutions for accurate energy measurement.
Amjaad solution components are engineered for ease-of-use and built “tough” to provide reliable and accurate results.
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