Jamalon Raises Series B Funding Round of $10M

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ArabNet Team
Mar 20 2019
Investment
Jamalon Raises Series B Funding Round of $10M
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Arabnet Startup Battle 2011 Alumni, Jamalon has closed the 1st leg of its Series B funding round raising more than $10M from existing and new shareholders.

The round was led by Wamda Capital, followed by Aramex with new investments from Anova Investments, 500 Falcons and Endeavor Catalyst. It is the largest amount received by a Middle East ecommerce retailer to date.

Founded in 2010 by Ala’ Alsallal, Jamalon plans to use the funds to increase the reach of Arabic books worldwide and expand its print-on-demand service which is capable of printing more than 2M titles in under 5 minutes per book.

“We are very excited to close this new round with investors that have been supporting us from the beginning,” said Alsallal. “Our ability to service customers globally via Jamalon’s 5 distribution hubs will grow even further thanks to our data-driven approach.”

Jamalon today offers more than 10M publications in both Arabic and English working with 3000 Arabic publishers and 27,000 English-language publishers in a market valued at $1.7B.

“We are excited to lead this funding round and to continue supporting Jamalon in its mission to reinvent the region’s publishing and distribution industry,” said Fadi Ghandour, executive chairman at Wamda Capital. “The print-on-demand solution is an example of how the industry is evolving and Jamalon is primed to capitalize on this shift and further scale its business.”