The initiative is known as StartMashreq, and welcomes companies from the FinTech, eCommerce and HealthTech sectors.
The investment round was led by MENA venture capital firm A15 and will help drive expansion into the GCC later this year.
The ambitious new project will link Ain Sokhna on the Red Sea to Marsa Matrouh and Alexandria on the Mediterranean.
The nine-meter shaft could reveal more on the construction of the pyramids.
Investors have now injected a total of $10.5 million into the Egypt-based catering logistics firm.
Blnk, an Egyptian fintech startup that enables access to instant consumer credit, has raised millions in equity and debt funding.
Hawaya currently operates in 12 new countries, including Kuwait, Saudi Arabia, UAE, France, Germany, UK, Malaysia, Indonesia, the United States, and Canada.