Egyptian grocery delivery startup, GoodsMart has announced a $3.6 million raise led by Sawari Ventures. Prior to this, the startup has raised over $1 million from investors including Algebra Ventures.
Founded in 2014 by Amr Fawzi, the startup, well ahead of the times, offers a contactless delivery service to users. After signing up on the platform, the startup installs a delivery box outside the user’s home.
From the app, users can order everything that they need from the platform before 9pm and have it delivered to them between midnight and 6am. They also have the option of using recurring orders for items that they use frequently.
To fulfill its orders, the startup partners with different suppliers while they also have partnerships with real estate companies to install delivery boxes for users. Users also have four different subscriptions, ranging from 100 EGP ($6) for a monthly subscription to 800 EGP ($51) for a yearly subscription.
With this fresh injection of cash, the startup, which currently operates in West Cairo, plans to launch in East Cairo and grow its team.
“The demand for online grocery delivery has been exponentially increasing. GoodsMart has managed to disrupt the market by providing a seamless innovative solution for consumers that will shape the future for this sector,” Hany El Sonbaty, Managing Partner at Sawari Ventures said following the announcement.
Fawzi, founder and CEO said, “We started in 2014 with a vision to re-invent grocery shopping. Our biggest success is the emotional bond we managed to create with our clients.; listening to them was and will always be the secret recipe.”
Grocery delivery startups have received great attention since the outbreak of the coronavirus pandemic. However, the bulk of the funding received by grocery delivery startups have been in Europe and America. Startups like GoodsMart and Appetito, another Egyptian grocery delivery company, are ensuring that Africa is not left behind.