Investors back Egypt-founded chip designer Pearl Semiconductor has raised USD 4.5 mn from local and regional VC firms in a recent funding round. Egypt-headquartered regional VC Sawari Ventures, UAE-based Shorooq Partners, Qatar’s QBN Capital, and several angel investors all participated in the round, Shorooq said in a statement yesterday.
Founded in 2020 as a spinoff from local chip firm Si-Ware Systems, the startup specializes in timing integrated circuits and reference clocks, which are used in automobiles, 5G networks, cloud computing, and other applications.
Headquartered in the Netherlands, Pearl’s products are designed in its R&D centers in Egypt and Malaysia and then outsourced to be manufactured in either Taiwan or Malaysia. The company received initial financial backing from Sawari and Si-Ware.