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HomeTech NewsEgypt’s OneOrder secures $16 million in Series A to enter new markets 

Egypt’s OneOrder secures $16 million in Series A to enter new markets 

  • OneOrder, an Egypt-based logistics startup, has raised $16 million in equity and debt in a Series A round to expand into the Gulf Cooperation Council (GCC) region in late 2024 to develop customer financing solutions, including cards, and enhance the platform.
  • The round, led by Delivery Hero Ventures and joined by Norrsken22, Egypt-based Nclude, and A15, comes nearly two years after the company closed a $3 million Seed round to strengthen its in-house operations.
  • Tamer Amer, CEO of OneOrder, stated that the startup is addressing supply chain challenges in many African and MENA regions, as the hotel, restaurant, and catering (HoReCa) industries are highly fragmented and rely on manual processes involving numerous stakeholders. This results in limited price transparency, insufficient access to quality stock-keeping units (SKUs), high waste and storage costs, and limited financing options for business growth.

“Currently, restaurants and hotels must work with hundreds of suppliers to maintain stock, receiving 10 to 20 deliveries each day, which disrupts operations without eliminating shortages,” he revealed.

He also said that previous attempts to resolve the issue have simply digitised it, as any ERP can do. Consequently, rather than operating as a one-stop shop, OneOrder streamlines the entire supply chain by storing all the ingredients restaurants might require in our well-located warehouses.

Beltone and Microfinanza Italia invest $2.4 million in Egypt’s entrepreneurial ecosystem

https://techpoint.africa/2024/05/21/beltone-and-microfinanza-italia-invest-2-4-million-in-egypts-entrepreneurial-ecosystem/embed/#?secret=mKu3FCdOjN#?secret=aMCyBrKABO

The Egypt foodservice market is expected to be worth $9.04 billion in 2024 and $18.14 billion by 2029, growing at a CAGR of 14.94% over the forecast period (2024-2029). 

Tamer Amer and Karim Maurice founded OneOrder in 2022, using technology to enable restaurants to source food and daily procurement needs directly from local suppliers, while also addressing issues such as product availability, price fluctuations, product consistency, on-time and accurate delivery, and a lack of working capital financing. 

Egyptian fintech Bokra raises $4.6 million in pre-seed for wealth expansion

https://techpoint.africa/2024/04/22/egyptian-fintech-bokra-raises-preseed/embed/#?secret=46T2VUofpC#?secret=bxS6uD6Mrs

With over 150 suppliers and over 1,000 clients, the startup claims to have introduced an AI-assisted system that has improved its platform, saving customers 60% of their time and money in the last six months. 

30Med, an Egypt-based healthtech, raises pre-seed funding to expand operations

https://techpoint.africa/2024/03/13/30med-egypt-healthtech-raises-preseed/embed/#?secret=4yjXAgdJrD#?secret=wVVr2KoaQH

Brendon Blacker, Managing Partner at Delivery Hero Ventures, stated that the new funding will allow the startup to expand its services to a larger geographic area and replicate the significant success it has already achieved in Egypt.

Source

techpoint.africa

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