VOLZ raises Algeria’s largest startup funding round in local currency
- VOLZ raised 600 million dinars (about $5 million) to strengthen its product offerings and expand into new markets.
- The funding round was led by Tell Group and included participation from Groupe Industriel Babahoum Algérie (GIBA).
- This funding represents the largest funding round ever raised by an Algerian startup in dinars.
The successful funding round for VOLZ highlights the potential of local startups in Algeria and the effectiveness of state-sponsored funding mechanisms. This could encourage more local investments and inspire other entrepreneurs in the region. However, the challenge remains to maintain growth and adapt to market demands as they expand.
