An Egyptian digital restaurant supply chain startup, Suplyd, has announced successfully raising $1.6 million in pre-seed funding to help it scale up its operations in the North African country and beyond.
The startup which digitises supply chain operations for hotels, restaurants, and catering industries in the MENA region, according to co-founder, Gohar Said, in a statement on Monday, will use the funds to provide a wider range of service for its clients.
“I have been in the restaurant industry for almost 12 years, and the supply chain is a nightmare for most of the operators,” he said in a statement on Monday.
“To make up for all the inefficiencies, you are always forced to either accept the fact that some of your menu items are not available or procure your requirements from the nearest market at a higher cost.
“In an extremely fragmented market, Suplyd streamlines the fulfillment process of supplies by creating a B2B platform that facilitates order procurement, fulfillment, and payments,” said Gohar, who is the CEO of Suplyd, added.
Founded by Gohar, Karim Selima, and Ahmed ElMahdy, Suplyd prides itself as a “solution that was created to address the daily struggles faced by hotels and restaurants which is one of the fastest-growing segments in the MENA region’s economy.”
The pre-seed round was funded by Endure Capital, Seedstars, Camel Ventures, Falak Startups, Outlierz, Plus Ventures, Fort, and Alex Angels, alongside a handful of strategic angel investors, and will be used to help Suplyd scale more quickly.