Egyptian startup AtomX plans to raise US$5 million in its first funding round. The company develops medical devices, industrial robotic arms, and software. It was created with a major Egyptian medical industries company.
Funding plans
The company will direct the round toward research and development. It also plans to hire specialized staff and develop product prototypes. Part of the funding will cover quality requirements and needed accreditations.
Founding and focus
Founder Abdelrahman Rady studied mechatronics at the University of Hertfordshire. He set up the company to develop technology for the medical and industrial sectors. The startup wants to reduce Egypt's reliance on imported medical devices and industrial robots.
How products are built
AtomX combines engineering design, manufacturing, and control systems in its work. Its products target the medical and industrial sectors. The company aims to compete in Egypt before expanding regionally and internationally.
AtomX plans to cooperate with Egyptian universities and students. It will offer practical training and support graduation projects and applied research. Students can join real product development and manufacturing work.