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$1.2 M funding raised by Tunisian big data startup Biware

Biware, a Tunisian data management, and analysis business has secured a preliminary investment round of MAD3.5 million (US $1.2 million) to help it expand its workforce and open additional locations.

Biware, founded in 2011 by Mohamed Amine Boussarsar and Walid Kaâbachi, helps companies extract value from their data for strategic goals including boosting revenues, cutting expenses, and minimizing losses.

Biware will use the MAD3.5 million (US $1.2 million) initial round from CDC Gestion and Zitouna Capital to grow its staff to 100 engineers and open three African and European operations by 2025.

“Biware has a portfolio of about 50 customers – mainly large companies – in the finance, telecommunications, retail, service, and energy sectors, in the African and European markets.

Our first customers were telecommunications operators, a sector in strong competition, where the detailed knowledge of the behaviour of their customers is a strategic lever for marketing to capture, increase revenue and retain the customer. Africa’s financial and energy sectors followed suit from 2016 onwards,” the startup said in a statement.

“Starting in 2018, we began investing heavily in the development of digital products and accelerators around the analytical core in verticalised areas, such as finance and human capital management, to meet the emerging needs of the small and medium-sized business market segment. We are convinced that to gain competitiveness companies must profoundly transform their organisation by automating and gradually introducing artificial intelligence into their internal and external processes.”

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