Latest news with #AzurInnovationFund
Morocco World
2 days ago
- Business
- Morocco World
ORA Secures Historic $7.5M Series A to Expand Mobile Payments and Food Delivery
Marrakech – ORA, a Moroccan startup, born not in a Silicon Valley garage but in the vibrant chaos of Casablanca, just closed a record-breaking $7.5 million Series A funding round. Led by Azur Innovation Fund and a squad of local investors, the funding is more than a business milestone. It's a mood. A reminder that homegrown innovation doesn't need to beg for validation from abroad — it's already valid, valuable, and venture-ready. And who's behind it all? Omar Alami, the founder and CEO of ORA Technologies, a man who speaks about digital access the way Carrie Bradshaw speaks about love: with conviction, curiosity, and a strong Wi-Fi connection. 'This is more than funding,' he said. 'It's proof that Morocco is ready to back innovation made by and for its people.' ORA isn't just dabbling in tech — it's rewriting the rules of the game. With Kooul, its fast-growing food delivery app, and ORA Cash, a mobile wallet that's quickly becoming the go-to for e-commerce payments, the company has its manicured hands in the two things we all care about: what we eat, and how we pay for it. The plan now? Expand Kooul's delivery infrastructure, make ORA Cash a household name, and basically become the Beyoncé of Moroccan fintech — flawless and everywhere. But what's even sexier than a startup with a unicorn dream? One that stays grounded. ORA's mission — 'E-Morocco for Everyone' — isn't just a tagline. It's a declaration that innovation doesn't belong to the elite. It belongs to the delivery guy, the online shopper, the corner store, and the girl scrolling through Kooul at midnight in a kaftan and face mask. So, as Morocco's tech ecosystem takes its next bold step, I couldn't help but wonder: When did 'Made in Morocco' become the next big thing in digital? Maybe today. And maybe, with ORA leading the way, there's no turning back. Tags: Omar AlamiOra Technologies
Wamda
2 days ago
- Business
- Wamda
ORA Technologies closes Its Series A round with a record $7.5 million
Moroccan superapp ORA Technologies has closed its Series A round at $7.5 million, led by Azur Innovation Fund and joined by three strategic local investors. This brings ORA's total local fundraising since January 2023 to a record $11.9 million. Founded in 2023 by Omar Alami, ORA app offers multiple features, including P2P transactions, an e-commerce platform, on-demand services, chat functionality, social networking, and a digital wallet to be launched soon. The funding will enable ORA to expand its last-mile operations and fortify its digital cash collection infrastructure. Four months ago, ORA Technologies closed a $1.9 million Pre-Series A funding round led by Witamax and Azur Innovation Fund. Press release: The Moroccan startup ORA Technologies announces the closing of its Series A for a total of $7.5 million, led by Azur Innovation Fund alongside three other strategic local investors. Since January 2023, ORA has raised a groundbreaking record of $11.9 million in local funding and demonstrates the ability of the Moroccan Tech Ecosystem to support its local tech gems. ORA is well-known in Morocco to be the promoter of the E-Morocco for Everyone initiative that targets easing access for every Moroccan with E-Commerce and Digital Payment. ORA is very active in the local retailtech and fintech space and aims to benefit from the Moroccan fast-growing food delivery and mobile wallet market. ORA food delivery app «Kooul» recorded more than 15,000 active clients in the last 10 months thanks to its affordable offers and fair economic model for restaurants and riders. In the meantime, «ORA Cash», its universal mobile wallet enabling users to open a payment account in 15 seconds and perform free and instant money transfers, has achieved more than 50,000 accounts in 5 months and started to be used by riders to digitise the massive « cash on delivery » business in Morocco. Omar Alami : « This landmark achievement shows a strong commitment from local investors to the local startup ecosystem and we are proud and honoured about it. It proves that local funding alternatives exist for later stages and encourages Moroccan founders to raise more money locally to scale up. We will use the proceeds to accelerate our last mile business and strengthen our digital cash collection capabilities. ORA is a good example of a 100% Made in Morocco journey and is ready to explore local and international growth opportunities. We have seen the Moroccan Tech ecosystem boiling lately and getting a substantial growing interest from international and local VCs since the Moroccan Sovereign Fund « Fonds Mohammed VI pour l'investissement » decided to support the local tech ecosystem; this is a unique opportunity that empowers Moroccan founders.
