Page 6 - Ewire Winter 2020

Edgo Signs Distributorship Agreement with Isomag
and Sealmatic in Oman

Edgo can now offer a range of
mechanical seals and bearing isolators to
their clients in the country following the
signing of two new distributorship
agreements with Isomag Sealmatic and
Sealmatic, both based in India.
Sealmatic is an engineering specialist with thirty years’ experience in
designing and manufacturing seals and associated products for the
oil and gas, chemical, pharmaceutical, pulp and paper, power
mining and many other industrial applications. Under the new
agreement, Edgo will be the exclusive distributor of Sealmatic’s
products in Oman.
Under the agreement with Isomag Sealmatic, Edgo will exclusively
distribute the company’s innovative bearing isolator in Oman.
Isomag Sealmatic custom design, test, and manufacture bearing
isolators that utilize magnetic energy to protect centrifugal
machinery applications.

Edgo VC Invests in Image Marketplace, Scopio

Edgo VC, the venture capital arm of Edgo, has
announced a US$150k seed-stage investment in image
marketplace Scopio, as part of a US$1.1 million total
funding round.
Scopio is an AI-based image marketplace of more than 200,000 commercial and
editorial photos from photographers in 150 countries. Scopio’s mission is to make stock
photography more diverse, authentic and affordable. Scopio has more than 15,000
business subscribers using images to power their creative content.
Scopio leverages the 4 billion images posted daily on social media by sourcing
high-quality images, at a fraction of the cost it takes traditional photo stock
companies and licenses them at scale to businesses that can use them commercially.
The New York-based business has been featured in CNN, Entrepreneur, Huff Post and
the company recently made the Forbes30under30 list.
The investment in Scopio is in line with Edgo’s strategy to further diversify its investment
portfolio by increasing its exposure to venture capital and is the fourth direct
investment Edgo VC has made since it was set up late last year. Other investments
made by Edgo VC include an investment in Solfeh, a micro-lending start-up, POS
Rocket, a cloud-based point of sale platform and Liwwa, a technology-enabled SME
peer to peer lender.

For more information on Scopio visit www.scop.io.