With $3M in New Funding, Egyptian Startup OneOrder Embarks on a Growth Drive • TechCrunch

[ad_1]

OneOrderEgypt’s supply chain solutions provider for restaurants, has raised $3 million in seed funding led by Nclude with participation from A15 and Delivery Hero Ventures. The latest funding brings the total funding raised by the startup to $10.5
$1 million, including $6.5 million in working capital financing from financial institutions.

Launched in March this year, OneOrder allows restaurants to order food supplies through its online platform, solving the challenges of a fragmented supply chain that leads to price irregularities, waste, quality issues, and storage costs.

Using its platform, restaurants no longer have to deal with dozens of suppliers, and can order only what they need, for next day delivery, reducing waste and eliminating the need for warehouses. The platform also ensures operational efficiency and helps restaurants save money by taking advantage of OneOrder’s economies of scale.

The startup plans to use the funding to expand its operations in Egypt including increasing its warehouse footprint, and exploring growth opportunities within the GCC region, and Africa.

We are exploring Saudi Arabia and expanding south on our continent. OneOrder co-founder and CEO said: Tamer my motherr, who co-founded OneOrder with Morris cream (CTO), who is also the founder of Cube, an online restaurant reservation service.

“Our solution showed that the industry is ready for tech solutions…[and] We are working on a more core operating system for restaurants that is not just a supply chain and inventory management system, but the entire cycle that will automate their operations using AI and machine learning capabilities to drive the supply chain.” Restaurateur for more than two decades, initially in the US before settling down In Egypt since 2008.

Amer, told TechCrunch that the sourcing challenges he faced operating two restaurants in Egypt — Fuego, a sushi restaurant, and Longhord Texas Barbeque — inspired the launch of OneOrder, to serve the country’s total market of 400,000 restaurants.

“I’ve always taken the supply chain in the US for granted; we’ve been ordering and getting supplies all the time. We don’t have to worry about shortages or changing prices. I realized that Egypt is very underserved and the industry is already doing a lot of things that we shouldn’t. carry out.

“…restaurants shouldn’t have a full-time job monitoring the supply chain and purchasing products because it eliminates focus on the core business of serving customers. This is where the idea really started.

OneOrder, through its partners and supported by its comprehensive data, plans to begin expanding its working capital financing options to restaurants as a way to help them scale their operations.

Basil Moftah, Managing Partner at Nclude, said: “The market fit of the OneOrder solution is impressive, along with the positive impact it offers to all stakeholders in the value chain. Through the use of alternative technology and data, OneOrder’s embedded financing will help underserved customers who are unable to secure traditional financing. This is perfectly aligned with our investment philosophy and we are thrilled to embark on this journey with the team.”

[ad_2]

Source link

Related Posts

Precaliga