Jordan’s Innovative Startups and SMEs Fund (ISSF) has invested $150,000 into UAE-based stock image provider, Silkroad Images, in a pre-Series A round.
Founded in 2011, Silkroad Images has been providing Middle Eastern stock photography, images, and digital content for over 10 years. Its catalogue also includes a plethora of vectors, sound effects, and VAS images and editorials. With content sourced from reputable photographers and content developers from within the region, its work aligns with ISSF’s mission of elevating the region’s entrepreneurial landscape.
The investment, which will be paralleled by internal Silkroad funding, will help the startup withstand the wave of downsizing as a result of the ongoing economic impacts of the COVID-19 pandemic’s disruptions.
Silkroad Images Founder and CEO, Riham Mahafza, explains that despite the growth the company has experienced, the investment is critical to keep the company afloat for post-pandemic operations.
“The COVID-19 pandemic has taken a massive toll on numerous industries, forcing companies – especially startups and SMEs – to downsize drastically or shut down altogether, and our industry was no exception.”
He explained that “securing [an] investment from the ISSF, combined with an internal funding round, will enable us to expand our digital library with authentic and intuitive content, grow our team, outreach new audiences, and develop our operations, consequently bridging our expansion into untapped high-potential markets in the near future.”
ISSF has been working to support and boost Jordananian and regional entrepreneurship and innovation by establishing new investment funds, investing directly in high-potential and scalable local startups, and implementing programs and initiatives that help make the Jordanian tech ecosystem more dynamic.