Rabat – State-backed investment fund CGD Invest, will inject MAD 3 million (MAD 304,653) in Morocco’s inclusive lingeries startup Nessiam.
The funding is part of the 212 Founders, a CDG Invest-backed program dedicated to providing promising startups with investments, to maximize their chances of success.
Nessiam startup is the “first inclusive,” lingerie brand operating in Morocco that will sell lingerie, including plus-size products.
Belonging to the third cohort of the 212 Founders program, the startup plans to use the new funding to consolidate its market footprint in Morocco and expand across the Middle East and North Africa (MENA) region.
Founded in 2020, the startup’s mission is to provide female consumers with a fully digital experience to buy lingerie at an affordable price. The startup caters to the needs of women of all sizes through its inclusive and body positivity approach.
“Nessiam proved its resilience and innovation in providing a democratized and responsible brand in a market full of fast fashion brands,” Youssef Mamou, director of 212 Founders program at CDG Invest said.
“Together with Nessiam, we boarded the challenge of placing tech at the heart of the company’s strategy,” he explained.
With the new round of investment, the 212 Founder has now invested a total of MAD 57 million in 12 startups, at different maturity levels including in Seed (initial) investment and Series A (second round of fundraising for a startup).
“With Nessiam, our objective goes beyond addressing market needs by offering clients items at a convenient price,” Mohammed Damiri, Co-founder of Nasseiam said.
“Our ambition is to give voices to women through our collection. This ambition became a reality with the 212 Founders program that allowed us to create a product that echoes our values,” he added.
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