This year, startups across all sectors in Egypt are making big waves, and they increasingly being backed by a growing ecosystem of angel investors. The latest to join the league is the Giza, Egypt-based ecommerce startup, Kemitt. The startup was backed by a group of angel investors from Saudi Arabia. The funds will be used to grow the company’s team and operations, develop its technology, and expand into new markets in the region, beginning with Saudi Arabia.
“We are very excited about the opportunity this investment gives us. It will enable us to scale up our operations and expand to new markets,” said Mahmoud Fouad, co-founder and CEO of Kemitt, adding that their goal is to put Kemitt as a first choice when the customer considers furniture shopping.
“We invest in technology to drive growth, as we have prioritised solving logistical pain-points to ensure a smooth journey from the factory to customers’ houses. We believe that digitising the furniture industry in the region is crucial for the local economy,” Fouad added.
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A Look At What The Startup Does
Kemitt’s online marketplace, which launched in 2017, gives consumers access to over 15,000 SKUs, as well as on-demand manufacturing and 7–12 day delivery services to their doorstep, saving them time by completely digitising the shopping experience and using the best technology available, while also providing all payment and financing options.
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By collaborating with a network of suppliers, Kemitt will be able to extend its range and scope across Egypt while maintaining the highest quality and lowest price.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer