Friday, March 1, 2024
No menu items!
Ad

Top 5 This Week

bama cap

Related Posts

Egypt’s B2B startup Suplyd closes $1.6M funding to expand their operations

Suplyd, an Egypt-based startup that digitizes supply chain operations for the MENA region’s hotels, restaurants, and catering (HORECA) industries, has secured $1.6M pre-seed round funded by Endure Capital, Seedstars, Camel Ventures, Falak Startups alongside other local and regional investors.

The funding round will enable the company to invest further in their technology, grow the team, and expand their operations to even more areas. 

- Ad -

“I have been in the restaurant industry for almost 12 years, and the supply chain is a nightmare for most of the operators. 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,” shared Gohar Said, CEO of Suplyd. “After opening my restaurant in early 2021, I talked with Karim and Mahdy and all it took was one simple question: what if technology took over?”

Founded by Gohar Said, Karim Selima, and Ahmed ElMahdy, Suplyd provides a reliable and simplified source of supplies to the defensive and growing HORECA businesses across Egypt and MENA region improving the efficiency of the entire supply chain by focusing on restaurants’ first-mile operations. The company’s goal is to empower the supply chain of Egypt’s F&B sector by providing intuitive digital solutions that would bridge the gap between restaurant operators and suppliers. 

- Ad-

Suplyd streamlines the fulfillment process of supplies by creating a B2B platform that facilitates order procurement, fulfillment, and payments. Through their platform, restaurants get access to a wide range of SKUs as well as a simplified transaction and delivery process. 

On the other hand, Suplyd is also able to support suppliers through its network of tech-enabled fulfillment centers, which offers them real-time analytics and actionable insights concerning demand patterns and trends. This enables suppliers to minimize waste, utilize industry assets, bring transparency to the market, and resolves the uncertainty of restaurants receiving their supplies. 

- Ad -

“What sets the HORECA business apart from regular retail business are the sensitivity of most of its goods, the fast product flow throughout the whole supply chain, and the limited delivery windows for the operators” added Ahmed ElMahdy, COO of Suplyd. “Suppliers have to streamline their internal operations to cater to restaurants’ requests and fluctuating demands. Having to do this in a space where most transactions are handled manually is nearly impossible. Suplyd offers a smooth purchasing experience, clarity of product availability, guaranteed delivery dates as well as transparent pricing. Coupling that with its useful analytics, reporting, and digital records enables suppliers to handle their complex internal logistics and optimize their assets. That is just the start of what Suplyd is here to offer.” 

Karim Selima, CPO of Suplyd also shared, “In a market as huge as the food and beverage sector in the Middle East, fragmented methods of managing the supply chain processes result in significant waste, which has a huge negative impact on the economy, and costs time and money. Using technology to solve a problem that affects one of the region’s fastest growing industries is a fascinating challenge. Suplyd saves users’ time and money and takes advantage of the fact that our technology can handle even the most complex issues that arise along the supply chain, from ordering through warehousing to tracking and delivery.”

With its leadership team composed of well-experienced co-founders and its members hailing from diversified backgrounds including growth, sourcing, business development and product development, Suplyd is confident it can deliver in its mission to transform the supply chain industry and successfully 10X ordering and fulfillment efficiency through their platform for the thousands of restaurants and suppliers in the region. 

Tarek Fahim, General Partner at Endure Capital, commented, “Eating out is a major part of social life in the Middle East, but the supply chain that enables restaurants to serve customers is highly fragmented. We are thrilled to support the team and the platform Suplyd is building to digitize the supply chain for restaurants, improving efficiency and reducing food waste in our communities.”

“We are excited to partner with Suplyd to drive innovation in Egypt’s F&B procurement. The F&B supply chain remains highly fragmented with unreliable and costly delivery, especially for smaller restaurants. Suplyd aims to revolutionize the food supply procurement process, enabling restaurants to improve their bottom line and grow their operations. With their extensive experience, the Suplyd team is well-positioned to create real impact for the F&B sector of Egypt,” shared Patricia Sosrodjojo, Partner at Seedstars International Ventures. 

“Every sector in every vertical is getting its own share of disruption one way or another, not by one solution, rather a variety. Our bet, in this case, is no exception to our logic, bet on the most capable team tackling the problem, in this case the brilliant co-founders behind Suplyd. We have high expectations and a ton of trust in this team,” added Ahmed Hazem, Managing Director at Falak Startups. 

Their recent pre-seed round was supported by noteworthy investors, garnering commitments from other local and regional investors as well, namely, Outlierz, Plus Ventures, Fort, and Alex Angels, alongside a handful of strategic angel investors.

- Ad -
Milcah Lukhanyu
Milcah Lukhanyuhttps://techmoran.com
Milcah Lukhanyu covers daily news briefs at TechMoran. She is the person who will probably read your press release and get the story out of it or totally trash it. Send tips to [email protected]

Popular Articles