THE ARAB WEEKLY - Oct 6 - Match Group has announced the acquisition of the Egyptian emerging matchmaking application Harmonica. Harmonica relies on an AI engine to determine compatibility among users to help them find relationships. Before being launched in November 2017, Harmonica joined a 4-month programme of a regional early-stage investor and accelerator, Flat6Labs, during which it received financial, legal and technical support, as well as access to the Flat6Labs' network of partners and investors. By the end of the programme, the application had attracted ~5K users, a figure that would increase 700% in the following weeks. Following its stage at Flat6Labs, Harmonica entered the early-stage venture fund and seed accelerator 500 Startups, where it raised $150K. The start-up was selected by the Egyptian Technology Innovation and Entrepreneurship Centre (TIEC) to join its incubator Start IT, which grants a similar package to that of Flat6Labs but for a more advanced stage.
by Marc Espanol
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