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Opio obtains $300,000 seed funding

Opio obtains $300,000 seed funding

ArabFinance: Egypt-based Opio women’s wear startup raised a $300,000 (EGP 4.7 million) seed investment from AUC Angels and unnamed angel investors, as well as follow-on funding from accelerator Flat6Labs Cairo, according to a press release.

The statement did not specify how it will use the funding, but it noted Opio is looking to set up a business in the GCC.

Opio, founded in 2017, “commissions white label and toll manufacturing women’s wear apparel to different manufacturers” to sell its products at "affordable" prices, the statement highlighted.

Last November, Egyptian fashion platform Brantu raised a seven-figure series A round in US dollar to mainly fuel the growth of its user base.

* At press time, the conversion rate is $1 = EGP 15.72

 

 

 

 

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