Egyptian-based startup, Pylon, has raised $19 million in seed funding led by U.S-Based Venture Capital firm, Endure Capital and the UK government’s development finance organization (British International Investment), Cathexis Ventures, Loftyinc Ventures, Khawarizmi Ventures, and numerous undisclosed angel investors.

The startup which currently has operations in Egypt and the Philippines disclosed that a portion of the funds will be used to grow into additional regions like Southeast Asia, Latin America, and other Africa.

This is Pylon's first round of funding after being bootstrapped since 2017, according to CEO Ahmed Ashour and CTO Omar Radi.

According to the CEO, Pylon solves a number of problems for water and distribution firms in the Middle East and North Africa (MENA) region.

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Pylon develops solutions for water and power distribution firms to assist them to become more productive and keep it under control. The firm estimates that hundreds of billions of dollars are lost each year in emerging economies. It’s a huge potential to boost those utilities’ total revenues and top line by 50%.

Pylon’s software collects data from the grids, analyzes it, and pinpoints where supply chain theft and losses occur. It then automates the organizations’ invoicing processes, much like telecom providers in these markets have done in the past.

Pylon claims it can assist utility businesses cut losses by 8% while also increasing their bottom line with no upfront expenditure.