Suplyd, an Egypt-based procurement platform for hotels, restaurants and catering (HoReCa) businesses, has raised $1.6 million in pre-seed funding from Endure Capital, Seedstars, Camel Ventures, Falak Startups, and a number of angel investors.
Launched in January this year, Suplyd provides a reliable and simplified source of supplies for growing HORECA businesses across Egypt and MENA region by digitizing supply chain operations - order procurement, fulfilment, and payments -through its B2B platform. Through their platform, restaurants get access to a wide range of SKUs and a simplified transaction and delivery process.
On the other hand, Suplyd also supports suppliers through its network of tech-enabled fulfilment centres, 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.
"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," said Gohar Said, Suplyd CEO who co-founded the startup with Karim Selima, and Ahmed ElMahdy.
Suplyd says it is currently serving 500 customers in greater Cairo, having grown by almost 50% month over month since launch and plans to use the new funding to scale its technology, expand within and beyond Cairo, and explore other growth opportunities in the Middle East and North Africa (MENA) region in the near future.
The startup will now have to go up against other local players like OneOrder - an Egypt-based supply chain solutions provider for restaurants that also recently secured $3 million in seed funding – as it gears towards its expansion plans to serve Egypt’s vast HoReCa industry, which is supported by over 400,000 restaurants.
Suplyd plans to use the funding to scale its technology, expand within and beyond Cairo, and explore other growth opportunities in the Middle East and North Africa region.