Egyptian social video analytics platform Mintrics is currently busy closing a $500 000 investment fund and intends to use the funding to expand to the US, Mintrics growth hacker Adel Heikal has revealed.
While it’s not clear which investors are participating in the round or when the round will be concluded, Heikal explained in an email yesterday (28 May) that the investment will be used to set up a sales office in the US.
The news follows an announcement by the startup on Sunday (26 May) that it had been accepted into the 11th cohort of US-based Blue Startups‘ accelerator programme.
Mintrics was founded in 2016 by Tarek Nasr, Tarek Shalaby and Muhammad El Zahlan.
Mintrics was selected for the programme along with six other startups, namely Via, Junction AI, Instant Teams, DriVR AI, Cruisio and ChatENG. Mintrics becomes the first startup from the Middle East and North Africa (MENA) region to have been accepted in the Hawaii accelerator.
In a call for applications for the 13-week acceleration programme earlier this year, Blue Startups said it invests up to $350 000 in funding in each startup selected for the programme.
Mintrics was launched in 2016 by veteran digital professionals CEO Tarek Nasr and Tarek Shalaby, as well as CTO Muhammad El Zahlan.