The news:
- Suplyd helps restaurants and hotels get products via its online platform.
- The $1.6 million pre-seed will help it expand beyond Cairo and explore other markets in future.
- Founded in January this year, the startup has recorded 50% month-on-month growth.
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Egyptian procurement platform for hotels, restaurants and catering (HoReCa) businesses, Suplyd, has raised $1.6m in pre-seed funding to expand beyond Cairo and scale its technology
The pre-seed round included investors such as Endure Capital, Seedstars, Camel Ventures, Falak Startups, and angel investors.
Founded in January 2022, Suplyd is a B2B platform that makes it easy for businesses in the food service industry to get access to a wide range of products on demand via digital order procurement, payment, and fulfilment.
The B2B platform saves restaurants, hotels, and catering companies the hassle of sourcing quality products offline.
Suplyd CEO, Gohar Said, told TechCrunch that “restaurants’ supply chain is a global issue, where everyone right now is looking into how to cut costs and reduce waste. However, the Egyptian market is extremely big yet untapped, and that’s where we direct our efforts for the next phase before we expand to other global markets.”
Besides expanding beyond Cairo with the funding, the startup wants to explore opportunities for growth in other regions, such as the Middle East and North Africa (MENA), in the near future.
The company has grown by 50% month-on-month since its launch, serving 500 customers in Greater Cairo.
As startups providing supply-chain solutions continue to proliferate the Egyptian market, it isn’t out of place to wonder if there’s enough room for growth for every player.
