KSA's Edafa Venture Capital Gains Stake In Egypt's Taskedin

Saudi Arabia-based Edafa Venture Capital, a venture capital firm, has secured a strategic stake in the Egyptian digital workspace and task management platform Taskedin through a multi-million-dollar acquisition.

Taskedin, which provides an integrated suite of solutions for task management, human resources, payroll, attendance tracking, and virtual meetings, is designed to replace traditional communication methods like email and WhatsApp, which often lack effective evaluation and follow-up features.

Taskedin thus aims to enhance task management by providing a centralized solution that improves communication while securing conversations and files. It consolidates essential company data, facilitating task transfers, and potentially reducing operational costs by up to 30 percent. In addition, Taskedin also supports HR management, payroll processing, and scheduling functionalities. 

Through this acquisition, Edafa Venture Capital plans to support Taskedin’s growth, particularly in Saudi Arabia and the Gulf region, while also exploring international market opportunities. This deal is also part of Edafa Venture Capital’s expansion strategy in the Egyptian market, following prior ventures in Saudi Arabia. The firm intends to establish branches in Bahrain and Qatar to support entrepreneurs across the Arab region.