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Tunisia: VC Firm 216 Capital Leads €850,000 Funding Round for Startup Cynoia

Venture capital firm 216 Capital has announced that it has invested in start-up Cynoia to support its international expansion, with a €850,000 (equivalent to nearly 2.9 million dinars) funding round led by 216 Capital, United Gulf Financial Services and Bpifrance, a crucial step for the startup.

In the financial world, a funding round consists of a number of investors collectively contributing amounts to a company’s capital, often for capital increases or equity investments.

Founded in 2022 by Nasreddine Riahi and Ayoub Rabeh, Cynoia aims to simplify and optimize collaboration within companies.

The platform centralizes a complete set of essential tools, from chat and video conferencing to email, calendar, document and project management, all in one place.

“What is interesting about Cynoia is its positioning in an international market for powerful collaboration tools.

Their potential for international growth is further enhanced by their strong team, which is a promising combination for future success,” said Dhekra Khelifi, Partner at 216 Capital.

Since its inception, the startup has built an exceptional track record, having equipped more than 3,000 users in 9 different countries, demonstrating the relevance of its approach.

216 Capital is a seed and pre-seed venture capital firm specializing in technology companies. It was founded in Tunis in 2021 by a team of entrepreneurs and investors.

Source: African Manager