Suplyd, an Egyptian startup, has announced a $1.6 million pre-seed funding round to digitize supply chain processes for the hospitality, restaurant, and food service (HORECA) sectors in the Middle East and North Africa (MENA).
Endure Capital, Seedstars, Camel Ventures, Falak Start-ups, and other local and regional investors participated in the funding round.
Suplyd, a solution developed to meet the daily challenges faced by HORECA, one of the fastest-growing economic sectors in the MENA area, was founded by Gohar Said, Karim Selima, and Ahmed ElMahdy.
“I have worked in the restaurant sector for almost 12 years, and most operators find the supply chain to be a nightmare. Gohar Said, CEO of Suplyd, explained that in order to make up for all the inefficiencies, you always need to either accept that some of your menu items are unavailable or buy your requirements from the closest market at a higher price.
By developing a B2B platform that makes order procurement, fulfillment, and payments easier in a highly fragmented industry, Suplyd streamlines the supply fulfillment process.
The Suplyd team wants to scale up more quickly and significantly while still serving Greater Cairo. With the help of its most recent round of funding, Suplyd will be able to increase its team size, make additional technological investments, and broaden its operational reach.
Read more on Tech Gist Africa:
OneOrder, an Egyptian a fintech-enabled restaurant management platform, has raised $3 million in a seed round
Egypt’s SIDEUP raises $1.2 million seed round from global and regional investors
Grinta, an Egyptian startup has secured a $8 million seed round funding