Rabbit, a Cairo-based e-grocery, has raised $11 million in pre-seed funding, a new record for the Middle East and Africa regions. Global Founders Capital, Foundation Ventures, Raed Ventures, MSA Capital, and Goodwater Capital are among the international investors who have participated.
Rabbit is setting sail to change the future of retail, promising “groceries and more in under 20 minutes.” Rabbit is able to provide its customers peace of mind by ensuring that what they want will never be out of stock and will arrive in under 20 minutes thanks to its tech-enabled, hyper-local fulfilment centres.
Over the last two decades, consumer expectations have shifted dramatically. Rabbit believes that on-demand shopping will follow in the footsteps of on-demand music, media, and transportation. Rabbit is building a business with speed as a key value, which is reflected in the way the company operates and works. The platform measures things in seconds because, at the end of the day, they are in the business of time, not retail or convenience. Rabbit works hard to make sure you have more time in your day.
Rabbit’s immense growth potential impresses its investor group.
“The Rabbit team is setting a totally new standard for the grocery industry in Egypt and the broader region. They offer a totally new experience to customers compared to traditional grocers and local stores.” Lorenzo Franzi, an investor at Global Founders Capital, said. “We have been following their progress since the very beginning and are very excited to be supporting their journey.”
“At Raed, we always look for world-class founders who have the capacity to be leaders in their industry,” Talal Alasmari, founding partner of Raed Ventures, said. “We believe that the founders of Rabbit, with their ambitious vision and extensive experience, possess the ability to lead in the Ultra-fast delivery domain, not only in Egypt but in the region as a whole.”
While delivering in 20 minutes in the busy streets of Cairo seem like magic, it is only made possible through the proprietary tech built by Rabbit.
“With Rabbit, you can buy a product in seconds, and get it in minutes. The simplicity of the promise is made possible through our industry-leading tech that powers live inventory management, blazing-fast pick and pack operations and optimised point to point delivery that comes together to ensure your order arrives on time, every time,” explains Walid Shabana, Rabbit’s Chief Technology Officer.
Rabbit went from concept to first order in just 130 days. Since mid-October, Rabbit has been live. Rabbit understands how much their customers appreciate being able to complete their daily shopping in under 20 minutes. Every Rabbit comes to work every day with the singular goal of providing an unprecedented magical customer experience.
Rabbit is currently serving four locations in central Cairo: Mohandeseen, Zamalek, Maadi and Nasr City, with plans to expand areas of coverage soon. Rabbit plans to cover several major cities in the next 12 months, and expects to be processing hundreds of thousands of orders per month.