Egyptian Supply Chain Startup Suplyd Raises $1.6M Pre-seed Round
Suplyd, an Egypt-based startup that digitises supply chain operations for the MENA region’s hotels, restaurants, and catering (HORECA) industry, has raised $1.6 million in a pre-seed round led by Endure Capital, Seedstars, Camel Ventures, Falak, Outlierz, Plus Ventures, Alex Angels, and Fort, as well as a few strategic angel investors.
The cash received in this round will be used by the firm to invest further in its technology, increase the staff, and expand its operations to new places across Egypt.
Why The Investors Invested
The founders have extensive experience in their field. Gohar Said, co-founder of Suplyd, formerly co-founded the Maine truck and worked in business development and the core commercial teams of ElMenus and Trella. Karim Selima, on the other hand, has worked for Yahoo and other marketers in the field of advertising and marketing technologies. Ahmed ElMahdy has local and regional procurement and purchasing operations experience with FMCG companies Henkel and Unilever.
A Look At What The Startup Does
Gohar Said, Karim Selima, and Ahmed ElMahdy developed Suplyd in 2022 as a solution to the daily problems encountered by Egypt’s approximately 400k restaurant and hotel industry.
“I have been in the restaurant industry for almost 12 years, and the supply chain is a nightmare for most of the operators. To make up for all the inefficiencies, you are always forced to either accept the fact that some of your menu items are not available or procure your requirements from the nearest market at a higher cost. After opening my restaurant in early 2021, I talked with Karim and Mahdy, and all it took was one simple question: what if technology took over?” Gohar Said, CEO of Suplyd, stated.
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By developing a B2B platform that supports order procurement, delivery, and payments, the startup optimises the supply fulfilment process. The platform gives restaurants access to a large number of SKUs as well as a streamlined transaction and delivery procedure.
“I have been in the restaurant industry for almost 12 years, and the supply chain is a nightmare for operators,” GOHAR SAID, CEO OF SUPLYD, said.
Suplyd also has a network of technology-enabled fulfilment facilities that assist suppliers by providing real-time analytics and actionable insights into demand patterns and trends. This assists suppliers in minimising waste, utilising industry assets, fostering market transparency, and resolving restaurant supply uncertainty.
“What sets the HORECA business apart from regular retail business are the sensitivity of most of its goods, the fast product flow throughout the whole supply chain, and the limited delivery windows for the operators. Suppliers have to streamline their internal operations to cater to restaurants’ requests and fluctuating demands. Having to do this in a space where most transactions are handled manually is nearly impossible. Suplyd offers a smooth purchasing experience, clarity of product availability, guaranteed delivery dates as well as transparent pricing. Coupling that with its useful analytics, reporting, and digital records enables suppliers to handle their complex internal logistics and optimize their assets. That is just the start of what Suplyd is here to offer,” Ahmed ElMahdy, COO of Suplyd, said.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh