Egypt-based Logistic Startup OneOrder Raises $16M for GCC Expansion
OneOrder’s consolidation of Egyptian markets has been met with large investments to help develop AI systems.
Egypt-based logistics startup OneOrder has raised $16 million in a Series A funding round, combining equity and debt, to fuel its expansion into the GCC region by late 2024. The round was led by Delivery Hero Ventures, with participation from Norrsken22 and existing investors Nclude and A15.
Founded in 2022 by Tamer Amer and Karim Maurice, OneOrder has gained traction as a tech-enabled supplier and wholesale distributor for the F&B industry, offering quality goods with embedded financing. This latest investment follows a $1 million pre-Seed and a $3 million Seed round in early and late 2022, respectively.
“Like many supply chains across Africa and the MENA region, HoReCa is extremely fragmented and relies on manual processes involving multiple stakeholders. This results in businesses having limited price-transparency, a lack of access to quality stock-keeping units (SKUs), high waste and storage costs, and limited financing to grow their businesses,” Tamer Amer, CEO of OneOrder, tells StartupScene. “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.”
Through its web-based platform and mobile app, OneOrder provides a virtual warehouse for over 700 SKUs, detailed analytics, and embedded financing, transforming the food procurement process for over 1,370 customers.
The startup’s approach extends beyond logistics to include integrated financing and payments solutions, working with Commercial International Bank Egypt (CIB) to enable variable payments by direct debit. This integration with ERP/POS systems ensures seamless operations for its customers. The recent funding will support OneOrder’s expansion into the Gulf Cooperation Council region, the development of financing solutions, and further enhancements to its platform, including AI-assisted systems that have already saved customers significant time and money.
Related Articles
Trending This Week
-
-
-
Jun 14, 2024 -
Events Calendar
