Ex 2:23 Now it happened in the process of time that the king of Egypt died. Then the children of Israel groaned because of the bondage, and they cried out; and their cry came up to God because of the bondage.

 24 So God heard their groaning, and God remembered His covenant with Abraham, with Isaac, and with Jacob.

 25 And God looked upon the children of Israel, and God acknowledged them.

The point of this section is to show that God keeps His covenant. When Israel groaned because of their bondage in Egypt, when they called upon God, God heard them because of His covenant with their forefathers. God is a covenant-keeping God. Just as God kept His covenant with their forefathers so will He keep His covenant with the nation Israel.